116 INC

Nonprofit profile at a glance

EIN
520742077
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2025476800
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$886,644
Expenses
$822,489
Assets
$790,522
Liabilities
$40,668

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

Leadership & pay

15 people listed

Executive titles in this filing

  • NICHOLAS C PALEOLOGOS (PRESIDENT)
  • STACY PALEOLOGOS (PRESIDENT)

Highest reported compensation

  • NICHOLAS C PALEOLOGOS (PRESIDENT): $177,843 total reported compensation
  • STACY PALEOLOGOS (PRESIDENT): $69,269 total reported compensation

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

Overview

Mission

Social club

What it reported doing in 2024

Operation of private club including food-bar sales to members

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program 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

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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 10
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.5%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 5th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 7.2%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 0.96; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 30%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: 10.8% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.5% of spending went to programs
  • Governance: 0 of 14 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $810K in reported program spending
  • Leadership: top reported pay $178K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Review — Sustainability: Operating margin scored 55/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.