Spectrum Resources Inc

Nonprofit profile at a glance

EIN
421452303
IRS 990 coverage
2012–2013
Forms available
Form 990 2013
Location
Des Moines, IA, USA
Phone
5152881023
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Official website

Reported finances

Revenue
$2,264,563
Expenses
$2,233,843
Assets
$447,494
Liabilities
$442,326

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

6 people listed

Highest reported compensation

  • JERALD BRANTLEY (EXECUTICE DI): $116,087 total reported compensation
  • ERICKA WILEY (COO): $81,617 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Spectrum resources goal is to develop innovative career training systems for the unemployed, under-employed and hard to place members of the central Iowa workforce. Through our mission; to guide our clients on the critical path, providing support in their pursuit of continued quality improvement in all aspects of life, we help individuals become more complete, whole citizens.

What it reported doing in 2013

Prevention/reduction of juveile delinguency and ex-offender recidivism in Iowa through career and on-the-job training in fields that stimulate and compensate individuals.

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 45
  • Sustainability: 26
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.6%; rating input score 97
  • Program expense ratio: 97.9%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 9th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.4%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.99; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 8.9%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 68.6% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 96.6% of revenue deployed · 97.9% of spending went to programs
  • Governance: 3 of 5 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.2M in reported program spending
  • Leadership: top reported pay $116K · 6 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2012 to 2013
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.