United Way Foundation of Indian River County Inc

Nonprofit profile at a glance

EIN
274180892
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Vero Beach, FL, USA
Phone
7725678900
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$1,578,209
Expenses
$311,825
Assets
$7,180,493
Liabilities
$265,889

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

Leadership & pay

16 people listed

Executive titles in this filing

  • MEREDITH EGAN (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • MEREDITH EGAN (CHIEF EXECUTIVE OFFICER): $118,846 total reported compensation
  • TRICIA CROCCO (DIRECTOR OF FINANCE): $90,043 total reported compensation

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

Overview

Mission

The united way foundation is solely focused on building a permanent endowment to forever support the work of united way of indian river county. Longterm in scope, the foundation affords donors the opportunity to leave a legacy and extend their support of united way beyond their lifetime primarily through bequests and other planned gifts.

What it reported doing in 2024

See schedule o for explanation.

Operating model

Revenue model
Investment-supported. 90% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 91% 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. Fundraising costs are high for each dollar raised and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 84
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 62.3%; rating input score 62
  • Fundraising efficiency: $0.31 raised per $1 spent on fundraising; rating input score 2; 2nd percentile among comparable filings

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; 76th 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: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 80.2%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 23.03; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 13.4%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 15% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 18.7% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 62.3% of spending went to programs
  • Governance: 14 of 14 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $194K in reported program spending
  • Leadership: top reported pay $119K · 16 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 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 — Financial Efficiency: Fundraising efficiency scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.