The Chords Inc
Nonprofit profile at a glance
- EIN
- 851905186
- IRS 990-EZ coverage
- 2020–2020
- Forms available
- Form 990-EZ 2020
- Location
- Miramar, FL, USA
- Phone
- 9545595682
- Rating
- 71
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Human Service Organizations
Reported finances
- Revenue
- $62,043
- Expenses
- $34,782
- Assets
- $27,261
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2020. Amounts in USD.
Leadership & pay
2 people listed
Executive titles in this filing
- Paul H Douglas (President)
People named in this filing
- Paul H Douglas (President)
- Ferdinand George (Secretary/Treasurer)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Harmonize people to meet the needs of other people in area of food insecurity
What it reported doing in 2020
ChordsCare - program designed to deliver groceries to those in need as well as stage food distribution events in cooperation with community stakeholders. 2300 packages prepared and delivered in 2020.
Operating model
- Revenue model
- Donor-supported. 100% 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 total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 70
- Transparency & Controls: 82
- Sustainability: 64
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 53.7%; rating input score 54
- Program expense ratio: 95.8%; rating input score 96
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 43.9%; rating input score 86; 86th percentile among comparable filings
- Total-asset coverage ratio: 0.78; rating input score 30; 30th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 73; 73rd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 53.7% of revenue deployed · 95.8% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $33K in reported program spending
- Leadership: top reported pay $0 · 2 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 2 filed schedules
- Contacts: How to reach this organization
- 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.
- Review — Financial Efficiency: Mission deployment rate scored 54/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.