Spring Lake Toys Foundation Inc DBA- Spring Lake Hope Foundation
Nonprofit profile at a glance
- EIN
- 812662629
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-EZ 2021
- Location
- Franklin Lakes, NJ, USA
- Phone
- 2019620865
- Rating
- 59
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Human Service Organizations
Reported finances
- Revenue
- $972,148
- Expenses
- $942,073
- Assets
- $322,742
- Liabilities
- $5,472
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- Paulette Pera Laurenzi (President)
- Salvatore V Frassetto (Vice President)
Highest reported compensation
- Paulette Pera Laurenzi (President): $155,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The organization provides financial assistance to families who struggle to pay for the medical and medical related expenses, not covered by insurance, of their child with a serious illness or special need.
What it reported doing in 2024
The Organization supported families of children with serious illnesses or special needs by providing handicap-accessible vehicles, easing transportation challenges and enhancing access to essential treatments and services
Operating model
- Revenue model
- Other-operating. 71% of the money available for current operations came from other operating revenue.
- Distribution model
- Grant intermediary. The nonprofit sent 87% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
MIXED - A large share of available resources goes toward mission work and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 65
- Transparency & Controls: 44
- Accountability: 63
- Sustainability: 36
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 72.4%; rating input score 72
- Program expense ratio: 74.3%; rating input score 74
- Fundraising efficiency: $1.44 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings
Transparency & Controls
- Consistency checks: 80%; rating input score 80; 0th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 0%; rating input score 0; 13th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 1 of 8 controls in place; rating input score 12
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Fail
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 3.1%; rating input score 45; 45th percentile among comparable filings
- Total-asset coverage ratio: 0.34; rating input score 16; 16th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 64; 64th percentile among comparable filings
- Officer compensation ratio: 16.5%; rating input score 20; 20th percentile among comparable filings
Growth
- Program expense growth: 16.2% per year; rating input score 100; 77th percentile among comparable filings
- Revenue growth: 36.6% per year; rating input score 100; 94th percentile among comparable filings
- Asset growth: 27.7% per year; rating input score 100; 89th percentile among comparable filings
Details
- Where the money goes: 72.4% of revenue deployed · 74.3% of spending went to programs
- Governance: 5 of 5 board members independent · 1 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $700K in reported program spending
- Leadership: top reported pay $155K · 5 people listed · 0 of 6 pay-setting controls reported
- Consistency: 24 of 27 current checks pass · 3 findings to review
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Accountability: Governance controls: 6 of 7 not reported.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 4/100.
- Moderate — Sustainability: Operating margin scored 45/100.
- High — Sustainability: Total-asset coverage ratio scored 16/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Moderate — Transparency & Controls: Schedule M noncash within contributions did not reconcile in the filed values.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 20/100.