TAAN Worldwide Inc

Nonprofit profile at a glance

EIN
461346238
IRS 990 coverage
2014–2022
Forms available
Form 990 2022, Form 990-EZ 2020
Location
Midlothian, VA, USA
Phone
6174072475
Rating
49
Verdict
MIXED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$319,194
Expenses
$315,280
Assets
$133,345
Liabilities
$82,755

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Peter Gerritsen (President)

Highest reported compensation

  • Peter Gerritsen (President): $140,583 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Management education and training

What it reported doing in 2022

Meetings and member conferences for member executives. They run for four days each, and have 25-50 attendees. They are for educational purposes.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - Most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 45
  • Accountability: 90
  • Sustainability: 28
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 42.3%; rating input score 42
  • Program expense ratio: 42.8%; rating input score 43
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.2%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 44.6%; rating input score 5; 5th percentile among comparable filings

Growth

  • Program expense growth: -3.3% per year; rating input score 0; 24th percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 42.3% of revenue deployed · 42.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $135K in reported program spending
  • Leadership: top reported pay $141K · 5 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes foreign activity
  • Filing history: 8 filing years from 2014 to 2022
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 42/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 43/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.