Vote Yes on Riverside Wharf PC Inc

Nonprofit profile at a glance

EIN
883043298
IRS 990 coverage
2022–2022
Forms available
Form 990 2022
Location
Miami, FL, USA
Phone
3054450777
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$310,000
Expenses
$310,000
Assets
$0
Liabilities
$0

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

Leadership & pay

2 people listed

People named in this filing

  • Jose A Riesco CPA (Treasurer)
  • Alex Mantecon (Chairman)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission is to collaborate on social welfare issues and to utilize economic principles that promote municipal synergy, economic growth, and to facilitate discussion while promoting economic development and job creation in South Florida through sound fiscal policies, lower government spending and reduced taxation. It will also support individuals, organizations, ballot initiatives, and positions that strengthen and improve South Florida's economy, while building support among business leaders, trade groups, schools, and elected officials through education, legislation, and other measures. The organization was established to carry on public policy initiatives, advocacy, and educational work designed to advance and improve the economic and welfare condition of the Miami community, while also improving and promoting social welfare issues that are important to the Miami community, particularly promoting the economic revitalization of the residential and commercial real estate adjoining a

What it reported doing in 2022

The entity has facilitated discussion and promoted the creation of jobs and economic development in South Florida. It has also built support among business leaders, trade and community groups, schools, elected officials, and a ballot initiative that promotes a strong economy. The entity was established to carry on public policy initiatives, advocacy, and educational work designed to advance and improve the economic and welfare condition of the South Florida community, while also improving and promoting social welfare issues that are important to the South Florida community.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 92
  • Accountability: 0
  • Sustainability: 28
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.7%; rating input score 99
  • Program expense ratio: 98.7%; rating input score 99
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 98.7% of revenue deployed · 98.7% of spending went to programs
  • Governance: 0 of 2 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $306K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • 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: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Sustainability: Operating margin scored 41/100.