The Spectra Organization Inc
Nonprofit profile at a glance
- EIN
- 592245045
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- West Palm Beach, FL, USA
- Phone
- 5616842160
- Rating
- 62
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,553,433
- Expenses
- $1,582,148
- Assets
- $14,562,490
- Liabilities
- $13,364,043
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- CAROL JONES-GILBERT (EXECUTIVE DIRECTOR)
Highest reported compensation
- CAROL JONES-GILBERT (EXECUTIVE DIRECTOR): $403,841 total reported compensation
- TAD FULLER (TOP FINANCIAL OFFICER): $150,925 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To assist and foster the planning and development of projects deemed to be beneficial socially, physically, economically and culturally to the public interest of the nation, with attention paid to the area of the palm beach county community and the state of Florida
What it reported doing in 2024
The organization owns a commercial office and warehouse complex in west palm beach, Florida, which is held principally for rental purposes. A substantial portion of the facility is rented to the palm beach county housing authority. A portion of this complex serves as headquarters for the organization.it also owns two real properties that are held for future use including but not limited to sale.finally, the organization contracts with owners of properties held for rental to low- and moderate-income persons and families to provide property management services. The organization currently has 154 residential units under management.
Operating model
- Revenue model
- Earned-program. 99% of the money available for current operations came from fees and other program revenue.
- 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 - The filed numbers largely add up and most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 57
- Transparency & Controls: 60
- Accountability: 77
- Sustainability: 48
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 65.1%; rating input score 65
- Program expense ratio: 63.9%; rating input score 64
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 9 controls in place; rating input score 44
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -1.8%; rating input score 30; 30th percentile among comparable filings
- Total-asset coverage ratio: 9.2; rating input score 91; 91st percentile among comparable filings
- Liabilities to assets ratio: 0.92; rating input score 7; 7th percentile among comparable filings
- Officer compensation ratio: 4.9%; rating input score 53; 53rd percentile among comparable filings
Growth
- Program expense growth: -1.9% per year; rating input score 0; 12th percentile among comparable filings
- Revenue growth: 8.8% per year; rating input score 100; 62nd percentile among comparable filings
- Asset growth: 24.9% per year; rating input score 100; 87th percentile among comparable filings
Details
- Where the money goes: 65.1% of revenue deployed · 63.9% of spending went to programs
- Governance: 3 of 3 board members independent · 4 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1M in reported program spending
- Leadership: top reported pay $404K · 5 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $217K reported
- Consistency: 25 of 26 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes executive pay
- Filing history: 13 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Related organizations: 10 filed related-organization links
- 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 — Transparency & Controls: Pay-setting controls scored 0/100.
- Moderate — Accountability: Governance controls: 4 of 8 not reported.
- High — Growth: Program expense growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 30/100.
- Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 7/100.
- Review — Sustainability: Officer compensation ratio scored 53/100.