Triumph Gulf Coast Inc

Nonprofit profile at a glance

EIN
821840264
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Tallahassee, FL, USA
Phone
8503879405
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$113,038,235
Expenses
$88,313,540
Assets
$617,674,364
Liabilities
$13,078,246

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

Leadership & pay

8 people listed

Executive titles in this filing

  • SUSAN SKELTON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SUSAN SKELTON (EXECUTIVE DIRECTOR): $120,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Triumph gulf coast, inc. Is a nonprofit corporation organized to oversee the expenditure of 75 percent of all funds recovered by the Florida attorney general for economic damages to the state that resulted from the 2010 deepwater horizon oil spill. Triumph gulf coast, inc., is required to administer the distribution of the funds to be used for the recovery, diversification, and enhancement of the eight northwest Florida counties disproportionately affected by the oil spill. Those counties include escambia, santa rosa, okaloosa, walton, bay, gulf, franklin and wakulla.

What it reported doing in 2024

Triumph gulf coast, inc., shall make awards from available funds to projects or programs that meet the priorities for economic recovery, diversification, and enhancement of the disproportionately affected counties. Triumph opened the application process for these funds in november 2017. The first grants were awarded in 2018. Awards may be provided for: (1) ad valorem tax rate reduction within disproportionately affected counties; (2) local match requirements of Florida s. 288.0655 for projects in the disproportionately affected counties; (3) public infrastructure projects for construction, expansion, or maintenance which are shown to enhance economic recovery, diversification, and enhancement of the disproportionately affected counties; (4) grants to local governments in the disproportionately affected counties to establish and maintain equipment and trained personnel for local action plans of response to respond to disasters; (5) grants to support programs that prepare students for future occupations and careers at k-20 institutions that have campuses in disproportionately affected counties. Eligible programs include those that increase students' technology skills and knowledge; encourage industry certifications; provide rigorous, alternative pathways for students to meet high school graduation requirements; strengthen career readiness initiatives; fund high-demand programs of emphasis at the bachelor's and master's level designated by the board of governors; and, similar to or the same as talent retention programs created by the chancellor of the state university system and the commission of education, encourage students with interest or aptitude for science, technology, engineering, mathematics, and medical disciplines to pursue postsecondary education at a state university of a Florida college system institution within the disproportionately affected counties; (6) grants to support programs that provide participants in the disproportionately affected counties with transferable, sustainable workforce skills that are not confined to a single employer; and (7) grants to the tourism entity created under Florida s. 288.1226 for the purpose of advertising and promoting tourism and fresh from Florida, and grants to promote workforce and infrastructure, on behalf of all of the disproportionately affected counties.

Operating model

Revenue model
Grant-funded. 71% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 89
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.4%; rating input score 84
  • Program expense ratio: 99.8%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th 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; 77th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 21.9%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 6.99; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: 38.3% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: -8.9% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 84.4% of revenue deployed · 99.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $88.1M in reported program spending
  • Leadership: top reported pay $120K · 8 people listed
  • Highest-paid contractors: 4 contractors listed · $656K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 28 filed money-flow records
  • Related organizations: 27 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 — Growth: Revenue growth scored 0/100.