Cat Nms Llc

Nonprofit profile at a glance

EIN
821421190
IRS 990 coverage
2020–2020
Forms available
Form 990 2020, Form 990-N 2019
Location
New York, NY, USA
Phone
8886963348
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$6,303,484
Expenses
$7,590,757
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

8 people listed

Highest reported compensation

  • MICHAEL SIMON (CHAIR, OPERATING COMMITTEE): $38,315 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Effective april 14, 2020, as per the amended and restated agreement, cat nms, llc will engage in: (a) the defense and resolution of the dispute between the company and thesys cat llc related to the plan processor agreement between thesys cat llc and the company dated as of april 6, 2017, under which thesys cat llc served as the plan processor for the creation, implementation, and maintenance of the cat pursuant to sec rule 608 and sec rule 613; and (b) any other business or activity that now or hereafter may be necessary, incidental, proper, advisable or convenient to accomplish the foregoing purpose and that is not prohibited by the Delaware act, the exchange act or other applicable law and is consistent with tax exempt status under section 501(c)(6) of the code. The company shall have and may exercise all of the powers and rights conferred upon limited liability companies formed pursuant to the Delaware act.

What it reported doing in 2020

See organization's mission which describes its activity during 2020. There were no program services undertaken during the current year.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program 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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 66
  • Accountability: 84
  • Sustainability: 12
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -20.4%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.5%; rating input score 83; 83rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $38K · 8 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $7.6M reported
  • Consistency: 8 of 8 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.