Volusia Building Industry Association Inc

Nonprofit profile at a glance

EIN
237329286
IRS 990 coverage
2010–2022
Forms available
Form 990 2022
Location
Daytona Beach, FL, USA
Phone
3862261414
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$232,911
Expenses
$280,241
Assets
$561,826
Liabilities
$100,190

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • ERIC OLSEN (PRESIDENT)

Highest reported compensation

  • LAURA R PERKINS (EXECUTIVE DI): $89,674 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide a forum for communicating the organizations goals to members, promoting the services provided by its members, and keeping members and the public informed.

What it reported doing in 2022

Provide a forum for communicating the organizations' goals to members, promoting the services provided by its members, and keeping members and the public informed.

Operating model

Revenue model
Other-operating. 74% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.8%; rating input score 94
  • 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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -20.3%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 2; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 32%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 54.5% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 2.8% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.8% of spending went to programs
  • Governance: 40 of 40 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $90K · 3 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2010 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.