Zumix Firehouse Inc

Overview

Mission

To acquire, own, redevelop and finance that certain real property, together with the building thereon, located at 260 sumner street, east boston, Massachusetts, for the sole purpose of leasing all or a substantial portion of such property to zumix, inc., a Massachusetts nonprofit corporation, all in furtherance of the charitable purposes of zumix, inc., including without limitation art exhibition, music, recording and performance facilities.

What it reported doing in 2024

To provide optimal & leed certified space for zumix's programs.

Operating model

Revenue model
Other-operating. 89% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 72% for direct work, and 28% for affiliated organizations.

Nonprofit profile at a glance

EIN
262779233
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2008
Headquarters
East Boston, MA, USA
Phone
6175689777
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

The verdict

SUPPORTED - 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 29
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 4; 4th 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: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -218.2%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 13.96; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: -3.3% per year; rating input score 0; 42nd percentile among comparable filings
  • Revenue growth: -6.1% per year; rating input score 0; 40th percentile among comparable filings
  • Asset growth: -4.2% per year; rating input score 0; 23rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $155K in reported program spending
  • Leadership: top reported pay $137K · 5 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

Leadership & pay

5 people listed

Highest reported compensation

  • MADELEINE STECZYNSKI (CLERK): $136,980 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.