88 International Corp

Nonprofit profile at a glance

EIN
475252543
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-N 2017
Location
New York, NY, USA
Phone
9175337313
Rating
58
Verdict
MIXED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$171,603
Expenses
$104,004
Assets
$71,444
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Kimball Gallagher (President)

Highest reported compensation

  • Kimball Gallagher (President): $23,650 total reported compensation

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

Overview

Mission

88 International's mission is to access the universality of music to bring together people from diverse backgrounds. We create and implement programs that inspire and empower each of us to become an active participant in delivering and appreciating music performance. We carry out our mission through education, engagement and entrepreneurship.

What it reported doing in 2024

Create and implement programs that inspire and empower each of us to become an active participant in delivering and appreciating music performance

Operating model

Revenue model
Grant-funded. 64% 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

MIXED - Most voting board members are independent and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 55
  • Accountability: 69
  • Sustainability: 61
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 49.9%; rating input score 50
  • Program expense ratio: 82.4%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 39.4%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 0.69; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 22.7%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: -3.5% per year; rating input score 0; 20th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 49.9% of revenue deployed · 82.4% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $86K in reported program spending
  • Leadership: top reported pay $24K · 3 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes major donors and foreign activity
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 50/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.