Akm Foundation

Nonprofit profile at a glance

EIN
232621025
IRS 990 coverage
2012–2016
Forms available
Form 990 2016
Location
Philadelphia, PA, USA
Phone
2159223031
Rating
50
Verdict
MIXED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$26,160
Expenses
$2,964
Assets
$1,054,654
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • DAVID S RASNER ESQ (PRESIDENT, EX-OFFICIO)
  • JAMES J MAZZARELLI JR (VICE PRESIDENT)

Highest reported compensation

  • CHARLES CROCE (EXEC. DIRECTOR, EX-OFFICIO): $37,555 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The atwater kent museum foundation was established to hold and distribute invested endowment funds for the benefit of the atwater kent museum associates. These funds provide support for the activities of the atwater kent museum associates, which brings philadelphia's rich history and the diversity of its people and their neighborhoods to philadelphians and regional visitors through exhibitions, educational programs and technology.

What it reported doing in 2016

To support the activities of the atwater kent museum which educates about the history of the city of philadelphia.

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.

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: 90
  • Accountability: 95
  • Sustainability: 83
  • Growth: 0

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; 62nd 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: 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: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 88.7%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 355.82; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -59.4% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -22.9% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: -2.5% per year; rating input score 0; 36th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $38K · 15 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2012 to 2016
  • Contacts: How to reach this organization
  • 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.

Key Signals

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

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.