The Watches of Switzerland Group Us Foundation

Nonprofit profile at a glance

EIN
872997535
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
Fort Lauderdale, FL, USA
Phone
2019898901
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$2,489,169
Expenses
$1,517,886
Assets
$1,942,229
Liabilities
$0

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

Leadership & pay

4 people listed

People named in this filing

  • DAVID HURLEY (CHAIRMAN)
  • BENJAMIN BIRNBAUM (TRUSTEE)
  • ELANNIE DAMIANOS (TRUSTEE)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide essential support through donations to local and national charities focused on poverty, social mobility and hardship in the communities within with the watches of switzerland group operates.

What it reported doing in 2024

Supporting charities to provide affordable housing and food for families in poverty, employment opportunities for individuals with intellectual disabilities, and funding of an enterprise challenge supporting young people to develop the confidence and skills to live, learn and earn.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 78
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.7%; rating input score 61
  • Program expense ratio: 99.6%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • 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; 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: 39%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 1.28; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 53.5% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 58.3% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 88.4% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 60.7% of revenue deployed · 99.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 7 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.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.