Afara Governance Inc

Nonprofit profile at a glance

EIN
921066073
IRS 990 coverage
2022–2023
Forms available
Form 990 2023
Location
Charlotte, NC, USA
Phone
9198335322
Rating
38
Verdict
REVIEW
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$175,000
Expenses
$187,248
Assets
$140,509
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

1 person listed

Executive titles in this filing

  • TAMARA MULLINGS (CEO)

Highest reported compensation

  • TAMARA MULLINGS (CEO): $118,835 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

AFARA works to identify, prepare, place and coach high-potential, exceptionally-qualified women to provide valuable contributions to corporate boards, amplifying the economic, cultural and social benefits of diversity and representation in corporate governance.

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: 5
  • Transparency & Controls: 90
  • Accountability: 26
  • Sustainability: 33
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 6.5%; rating input score 6
  • Program expense ratio: 6.1%; rating input score 6
  • 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: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -7%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.75; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 63.5%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 200% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: -13.3% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -8.4% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 6.5% of revenue deployed · 6.1% of spending went to programs
  • Governance: 0 of 1 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $119K · 1 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2022 to 2023
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 6/100.
  • High — Financial Efficiency: Program expense ratio scored 6/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.