The Geanco Foundation Inc

Nonprofit profile at a glance

EIN
203498204
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Los Angeles, CA, USA
Phone
7084391462
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
International Relief

Official website

Reported finances

Revenue
$1,078,001
Expenses
$1,141,828
Assets
$914,459
Liabilities
$80,340

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • AFAM ONYEMA (CEO AND CO-FOUNDER)
  • DR GODWIN ONYEMA (PRESIDENT AND CO-FOUNDER)

Highest reported compensation

  • AFAM ONYEMA (CEO AND CO-FOUNDER): $254,847 total reported compensation
  • DR GODWIN ONYEMA (PRESIDENT AND CO-FOUNDER): $40,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Geanco's mission is to save and improve lives in africa. The principal activities of the foundation are to receive and/or maintain funds which are used for special medical missions, maternal and infant health programs, and support of schools in africa.

What it reported doing in 2024

In 2024, geanco funded surgeries performed by local, nigerian surgeons across nigeria. A total of 78 surgeries were successfully completed within 10 non-consecutive days. The procedures included herniorrhaphy, hydrocelectomy, thyroidectomy, excision biopsy, vaginal hysterectomy, myomectomy, and cystectomy, among others. In 2023, the organization was able to perform a laparoscopic surgical mission at life international hospital in nigeria. The organization brought us surgeons that worked with nigerian surgeons and anesthesiologists and performed 73 procedures on 33 patients in four days. They also provided hands-on laparoscopic surgery training and gave lectures to 25 nigerian surgeons and doctors who traveled from all over the country to participate in the training.the foundation has six maternity center clinics in operation in nigeria as of june of 2024. All are solar powered and provide prenatal and postnatal care, as well as delivery services and vaccinations. The foundation has a leadership scholarship program for girls in nigeria who have been negatively impacted by acts of terrorism and gender inequality. During 2021, the foundation continued the expansion of its anemia program at four hospitals and clinics in southeast nigeria. The foundations leaders made official visits to the partner hospitals that manage the daily screening and treatment of vulnerable women and children for anemia, a dangerous blood condition.included in this total are also a portion of the salaries of the foundations only two employees.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 89% 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. A relatively small share of voting board members are independent and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 79
  • Accountability: 71
  • Sustainability: 27
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.3%; rating input score 83
  • Program expense ratio: 78.3%; rating input score 78
  • Fundraising efficiency: $7.01 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 11th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • 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: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.9%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.8; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 25.8%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: -0.4% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 83.3% of revenue deployed · 78.3% of spending went to programs
  • Governance: 5 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $894K in reported program spending
  • Leadership: top reported pay $255K · 10 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • 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.

  • Review — Accountability: Independent voting board scored 50/100.
  • High — Financial Efficiency: Fundraising efficiency scored 27/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 22/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.