The Surplus Exchange

Nonprofit profile at a glance

EIN
431328139
IRS 990 coverage
2011–2018
Forms available
Form 990 2018
Location
Kansas City, MO, USA
Phone
8164720444
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Recycling Programs

Official website

Reported finances

Revenue
$812,302
Expenses
$1,029,816
Assets
$451,054
Liabilities
$12,830

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

9 people listed

People named in this filing

  • JESSICA MERRIGAN (CO - CHAIRMAN)
  • NANCY FRAZEE (CO - CHAIRMAN)
  • NATALIE ORRISON (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. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To divert electronics and commercial furniture from landfills through reuse and responsible recycling.

What it reported doing in 2018

Sales of recycled electronics, furniture, and other materials.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 27
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 79.1%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -26.8%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: -22.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: -10.9% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 79.1% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $815K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 4 filing years from 2011 to 2018
  • 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.

  • High — Sustainability: Operating margin scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Growth: Asset growth scored 0/100.