Waimanalo Market Co-op

Nonprofit profile at a glance

EIN
800938212
IRS 990 coverage
2019–2020
Forms available
Form 990 2020
Location
Waimanalo, HI, USA
Phone
8082249193
Rating
34
Verdict
REVIEW
Rating confidence
Moderate
Sector
Agricultural Programs

Reported finances

Revenue
$83,177
Expenses
$107,417
Assets
$0
Liabilities
$54,658

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Kehaulani Padilla (Board Vice President, Acting President)

People named in this filing

  • Michael Buck (Board Member)
  • Nina O'Donnell (Board Member)
  • Haley Miyaoka (Board Member)

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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

A community owned non stock cooperative that provides access to healthy foods and local products by supporting local entrepreneurs and Waimanalo businesses to promote healthy lifestyles, social and economic well being, community wide.

What it reported doing in 2020

Continue to provide and enhance access to affordable, nutritious, locally sourced, and culturally accepted food for lower-income and health challenged residents. Due to COVID-19 pandemic, we provided the venue for food distribution at the front of the store and in the parking lot, at no charge, to the Food Bank and local corporations providing free food to our residents. Provided a venue for local farmers to distribute their pre-ordered produce, at no charge.

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
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

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 6
  • Transparency & Controls: 90
  • Accountability: 18
  • Sustainability: 26
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 8.9%; rating input score 9
  • Program expense ratio: 2.2%; rating input score 2
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 0%; rating input score 0; 8th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -29.1%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -191.4% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -99.9% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 8.9% of revenue deployed · 2.2% of spending went to programs
  • Governance: 0 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $2K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2019 to 2020
  • Contacts: How to reach this organization
  • 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: Mission deployment rate scored 9/100.
  • High — Financial Efficiency: Program expense ratio scored 2/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • High — Growth: Asset growth scored 0/100.