Cadets Arts and Entertainment Inc
Nonprofit profile at a glance
- EIN
- 850545477
- IRS 990 coverage
- 2020–2021
- Forms available
- Form 990 2021
- Location
- Erie, PA, USA
- Phone
- 4847731983
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Performing Arts Organizations
Reported finances
- Revenue
- $1,827,091
- Expenses
- $2,108,718
- Assets
- $611,269
- Liabilities
- $413,810
Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- Denise Bonfiglio (CEO)
Highest reported compensation
- Justin Moore (COO and CFO): $65,000 total reported compensation
- Denise Bonfiglio (CEO): $50,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Leadership innovation excellence and community through arts and education helping students achieve their potential as individuals and as citizens of the world.
What it reported doing in 2021
The Cadets are the flagship program of Cadets Arts & Entertainment Inc. and the primary vehicle for which the organizations mission is achieved
Operating model
- Revenue model
- Other-operating. 68% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 84
- Accountability: 83
- Sustainability: 14
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 98.8%; rating input score 99
- Program expense ratio: 85.6%; rating input score 86
- Fundraising efficiency: $7.86 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 18th 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: 94.4%; rating input score 94; 25th 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: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -15.4%; rating input score 8; 8th percentile among comparable filings
- Total-asset coverage ratio: 0.29; rating input score 10; 10th percentile among comparable filings
- Liabilities to assets ratio: 0.68; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 5.5%; rating input score 53; 53rd percentile among comparable filings
Growth
- Program expense growth: 72.4% per year; rating input score 100; 97th percentile among comparable filings
- Revenue growth: 33.2% per year; rating input score 100; 92nd percentile among comparable filings
- Asset growth: -17.6% per year; rating input score 0; 2nd percentile among comparable filings
Details
- Where the money goes: 98.8% of revenue deployed · 85.6% of spending went to programs
- Governance: 17 of 18 board members independent · 6 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $1.8M in reported program spending
- Leadership: top reported pay $65K · 19 people listed
- Consistency: 42 of 45 current checks pass · 3 findings to review
- Schedules: 4 filed schedules
- Filing history: 2 filing years from 2020 to 2021
- Contacts: How to reach this organization
- Money network: 2 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.
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: Fundraising efficiency scored 25/100.
- High — Sustainability: Operating margin scored 8/100.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Sustainability: Total-asset coverage ratio scored 10/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
- Review — Transparency & Controls: Schedule G fundraiser detail did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 11/100.
- Review — Sustainability: Officer compensation ratio scored 53/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.