Anderson Abruzzo Intl Ballon Museum Fdn

Nonprofit profile at a glance

EIN
850323409
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Albuquerque, NM, USA
Phone
5052478900
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$628,330
Expenses
$611,005
Assets
$700,201
Liabilities
$300,111

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

Leadership & pay

22 people listed

Executive titles in this filing

  • LAURIE MAGOVERN (EXECUTIVE DIRECTOR)
  • PETER CUNEO (PRESIDENT)
  • JEREMIAH RITCHIE (VICE PRESIDENT)

Highest reported compensation

  • LAURIE MAGOVERN (EXECUTIVE DIRECTOR): $93,640 total reported compensation

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

Overview

Mission

The anderson abruzzo international balloon museum foundation believes in sharing the joy and wonder of balloon flight by honoring past innovators and supporting future explorers. The anderson abruzzo international balloon museum foundation uplifts the balloon museum by

What it reported doing in 2024

Fostering public recognition, public education and awareness, and promoting and building memberships for the albuquerque international balloon museum.

Operating model

Revenue model
Donor-supported. 93% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 86% of its reported program spending out as grants.

The verdict

SUPPORTED - 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: 46
  • Transparency & Controls: 89
  • Accountability: 90
  • Sustainability: 39
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.1%; rating input score 51
  • Program expense ratio: 49%; rating input score 49
  • Fundraising efficiency: $3.83 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.1%; rating input score 97; 44th percentile among comparable filings
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: 2.8%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 1.15; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 15.3%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 27.3% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 12.2% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 51.1% of revenue deployed · 49% of spending went to programs
  • Governance: 21 of 21 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $300K in reported program spending
  • Leadership: top reported pay $94K · 22 people listed
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 51/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 49/100.
  • High — Financial Efficiency: Fundraising efficiency scored 12/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.