Beam Center Inc

Nonprofit profile at a glance

EIN
454273449
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Brooklyn, NY, USA
Phone
7188557600
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$5,148,715
Expenses
$4,761,271
Assets
$2,972,179
Liabilities
$1,861,161

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Brian Cohen (Executive Director)

Highest reported compensation

  • Matt Robingson (CFO): $118,039 total reported compensation
  • Brian Cohen (Executive Director): $100,793 total reported compensation

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

Overview

Mission

Founded in 2012, Bean Center focuses on empowering young people through hands-on collaborative creation and learning, helping them to develop skills, confidence, and purpose working together on real-world projects combining art, science, and technology.

What it reported doing in 2024

Beamworks: public school partnerships where beam center faculty collaborate with teachers on art and technology projects, serving middle and high school students from public schools throughout nyc, in and out of the classroom.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 92% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 94
  • Accountability: 86
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.3%; rating input score 76
  • Program expense ratio: 82.5%; rating input score 82
  • Fundraising efficiency: $26.36 raised per $1 spent on fundraising; rating input score 66; 66th percentile among comparable filings

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: 100%; rating input score 100; 72nd 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 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 7.5%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.62; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.63; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 4.6%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 16.8% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 17.4% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 27.2% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 76.3% of revenue deployed · 82.5% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $3.9M in reported program spending
  • Leadership: top reported pay $118K · 12 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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 — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.