The Tenure Facility Fund

Nonprofit profile at a glance

EIN
933976724
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
New York, NY, USA
Phone
3033581098
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$14,172,540
Expenses
$1,036,973
Assets
$13,383,917
Liabilities
$248,350

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

Leadership & pay

5 people listed

Executive titles in this filing

  • ANTOINETTE ROYO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ANTHONY NOBLE (CFO/COO): $112,500 total reported compensation
  • ANTOINETTE ROYO (EXECUTIVE DIRECTOR): $9,720 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 work in partnership with indigenous peoples and local communities to strengthen their tenure and ability to preserve, protect and enjoy the benefits of their traditional lands, territories, and resources.

What it reported doing in 2024

In 2024 we established the organization's management team and staff and began operations. We also finalized banking, grantmaking policies and procedures, and a workplan for 2024 and beyond. We established a fiscal sponsorship arrangement with turning tides, an international grant facility dedicated to supporting the tenure and rights of local communities, small-scale fishers and fish workers, and indigenous peoples. In 2024 turning tides began grantmaking: we approved grants of $278,000 that will support our partners and their mission.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 65% for direct work, and 35% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 40
  • Transparency & Controls: 80
  • Accountability: 86
  • Sustainability: 87
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 5.7%; rating input score 6
  • Program expense ratio: 77.7%; rating input score 78
  • Fundraising efficiency: $1,656.83 raised per $1 spent on fundraising; rating input score 97; 97th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Pass
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 92.7%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 12.91; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 90; 90th percentile among comparable filings
  • Officer compensation ratio: 10.8%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 5.7% of revenue deployed · 77.7% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $806K in reported program spending
  • Leadership: top reported pay $112K · 5 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 7 filed schedules · includes major donors, foreign activity, and grants
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 6/100.
  • High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 17/100.