The Canes Initiative Inc

Nonprofit profile at a glance

EIN
921542863
IRS 990 coverage
2023–2023
Forms available
Form 990 2023, Form 990-N 2022
Location
Coral Gables, FL, USA
Phone
3059788521
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Youth Development Programs

Reported finances

Revenue
$1,018,776
Expenses
$1,018,776
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • ZACHARY BURR (PRESIDENT/DIRECTOR)

People named in this filing

  • ZACHARY BURR (PRESIDENT/DIRECTOR)
  • CHRISTOPHER HORTON (TREASURER/DIRECTOR)
  • NICK MENAS (SECRETARY/DIR.(10/23 - 12/23))

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The focal point of the organization's mission is to be a charitable, educational and philanthropic corporation intended for the youth of South Florida communities to (a) provide a mentorship program to inspire, encourage and equip such youth through education, events, missions and interactive digital platforms; and (b) organize, sponsor, promote and participate in youth athletic events, contests, educational opportunities, clinics, expositions and other similar programs and projects.

What it reported doing in 2023

South Florida mentorship program that will match local disadvantaged youth (ages 8-14) with current university of miami student athletes. These student athletes will serve as mentors and role models for these youth. The mentorship program will be conducted via phone, video conference, in person, and at a number of group events planned throughout the year. This program represents 70 percent of the organization's time commitment and will be funded by public donations. Expenses will be 70 percent of the organization's budget. As the central program of the organization the mentorship program will be a resource and opportunity for these disadvantaged youth to be partnered with role models who can help shape their future and inspire them to work hard, stay focused, make good decisions, and reach their life goals. In 2023, the south Florida mentorship program had 64 mentors participate in the program, servicing a total of 387 disadvantaged youth.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
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 some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 85
  • Accountability: 82
  • Sustainability: 27
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.8%; rating input score 85
  • Program expense ratio: 84.7%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 84.8% of revenue deployed · 84.7% of spending went to programs
  • Governance: 3 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $863K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and related organizations
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.