Fund for BRIC Inc

Overview

Mission

To provide support for the benefit of bric arts media bklyn, inc.

What it reported doing in 2024

To hold and invest funds to be used for the projects of bric arts media bklyn, inc.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

Nonprofit profile at a glance

EIN
271119965
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-N 2009
Headquarters
Brooklyn, NY, USA
Phone
7186835600
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. 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: 0
  • Transparency & Controls: 100
  • Accountability: 83
  • Sustainability: 67
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • 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: 80%; rating input score 80; 25th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 30%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 67.24; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 172.4%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: -12.9% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: -15.1% per year; rating input score 0; 24th percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $362K · 5 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 15 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • 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

  • WESLEY JACKSON (PRESIDENT): $361,636 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.