The L40 Foundation Inc

Nonprofit profile at a glance

EIN
863316706
IRS 990 coverage
2021–2023
Forms available
Form 990 2023, Form 990-EZ 2022
Location
Longwood, FL, USA
Phone
6125128002
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$56,628
Expenses
$50,125
Assets
$6,503
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • DYLAN PALACIO (PRESIDENT)
  • JOHNNI DIJULIU (VICE PRESIDENT)

Highest reported compensation

  • DYLAN PALACIO (PRESIDENT): $6,579 total reported compensation
  • KRISTINE LOVE KEYS (SECRETARY): $4,000 total reported compensation

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

Overview

Mission

To remove socioeconomic barriers between kids and athletic achievement opportunities and development

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

MIXED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 81
  • Accountability: 0
  • Sustainability: 45
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.8%; rating input score 69
  • Program expense ratio: 77.8%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 0 of 9 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 11.5%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 21.1%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 12.5% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: -6.5% per year; rating input score 0; 41st percentile among comparable filings
  • Asset growth: -74.3% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 68.8% of revenue deployed · 77.8% of spending went to programs
  • Governance: 0 of 4 board members independent · 0 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $39K in reported program spending
  • Leadership: top reported pay $7K · 4 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2021 to 2023
  • Contacts: How to reach this organization
  • Money network: 4 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 8 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.