Cape Cod Child Development Inc C/o David B Madoff Chapter 7 Trustee

Nonprofit profile at a glance

EIN
237324732
IRS 990 coverage
2009–2021
Forms available
Form 990 2021
Location
Foxborough, MA, USA
Phone
5085430040
Rating
46
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$176
Expenses
$18,449
Assets
$909,650
Liabilities
$1,340,196

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

1 person listed

People named in this filing

  • DAVID B MADOFF (APPOINTED TRUSTEE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide world-class child and family focused programs that nurture each child's full potential

What it reported doing in 2021

On october 28, 2019, cape cod child development, inc. Filed a petition for relief under chapter 7 of the united states bankruptcy code, and david b. Madoff of madoff & khoury llp was appointed as the chapter 7 trustee. As of the end of october 2019, all remaining employees of cape cod child development, inc. Completed their employment and subsequently the programs ceased as bankruptcy proceedings commenced. See further disclosure included at the first disclosure to schedule o.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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: 88
  • Sustainability: 35
  • 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; 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -10,382.4%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 49.31; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 1.47; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -19.6% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: -8.3% per year; rating input score 0; 38th percentile among comparable filings
  • Asset growth: -7% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 1 of 1 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 11 filing years from 2009 to 2021
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Sustainability: Operating margin scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.