Valpo Surf Project Inc

Nonprofit profile at a glance

EIN
271608970
IRS 990 coverage
2016–2023
Forms available
Form 990 2023, Form 990-EZ 2015, Form 990-N 2012
Location
Thomaston, ME, USA
Phone
2079753825
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Swimming & Other Water Recreation

Official website

Reported finances

Revenue
$415,175
Expenses
$499,943
Assets
$39,379
Liabilities
$98,835

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • WILEY TODD (FOUNDER / CEO)

Highest reported compensation

  • WILEY TODD (FOUNDER / CEO): $83,255 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to use surfing instruction and academic mentoring to encourage english language skills, personal character development, and environmental consciousness among underprivileged and at risk youth in cities across the globe.

What it reported doing in 2023

The valpo surf project is a youth mentorship organization that works with at-risk populations in valparaiso, chile. Our kids often face tremendous hardships from an early age. Poverty, drug abuse, and violent crime are everyday realities in their neighborhoods. Vsp is a source of stability, guidance, and consistency amidst an otherwise chaotic environment. Our goal is to use surfing and academic tutoring to encourage english language skills, personal character development, and environmental consciousness among our students.constant mentorship is the glue that unifies all vsp programming. On average each student receives 265 hours of programming per year including: surfing: surf sessions are the heart of our relationship with our students. In the ocean our students take a break from the stresses of their everyday lives, engage in healthy physical activity, and spend quality time with their mentors. Academics: we provide english classes, individualized tutoring, and college and career preparation. Our academics are opening doors for our students they previously did not know existed. Environment: our environmental activities encourage environmental consciousness, community service, and leadership skills. Since 2010, we have worked with over 2,000 students and provided over 7,000 mentorship hours during more than 2,000 activities. We have grown to include students from 8 distinct neighborhoods, schools, and sename, a state-operated child protection home for both juvenile rehabilitation and care for at-risk youth removed from unsafe homes. Vsp is committed to each student, empowering them with the tools to better their own lives and positively impact their communities.

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 88% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 80
  • Accountability: 65
  • Sustainability: 11
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.9%; rating input score 76
  • Program expense ratio: 63%; rating input score 63
  • Fundraising efficiency: $4.21 raised per $1 spent on fundraising; rating input score 18; 18th 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: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 20th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -20.4%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 0.08; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 2.51; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 16.7%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 7.2% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 9.7% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 75.9% of revenue deployed · 63% of spending went to programs
  • Governance: 6 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $315K in reported program spending
  • Leadership: top reported pay $83K · 8 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors and foreign activity
  • Filing history: 6 filing years from 2016 to 2023
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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 — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 18/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.