Cmw Support Corporation

Nonprofit profile at a glance

EIN
922976581
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Providence, RI, USA
Phone
4018615650
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$308,250
Expenses
$537,089
Assets
$15,584,625
Liabilities
$10,763,654

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

Leadership & pay

5 people listed

Executive titles in this filing

  • RAMIRO ENCIZO (PRESIDENT)

Highest reported compensation

  • SEBASTIAN RUTH (FOUNDER & ARTISTIC DIRECTOR): $104,261 total reported compensation
  • KELLY REED (MANAGING DIRECTOR): $91,745 total reported compensation

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

Overview

Mission

Cmw support corporation ("cmwsc") was formed for the specific purpose of helping construct the community musicworks center through a new markets tax credit ("nmtc") financing arrangement under section 45d of the irc, as amended.

What it reported doing in 2024

The community musicworks support corporation 1) supports community musicworks, a Rhode Island nonprofit corporation ("cmw"), an organization which emphasizes music education and social justice programs for youth and adults in underserved neighborhoods of providence, Rhode Island 2) owned, leased and maintained the site or sites at which cmw is located.

Operating model

Revenue model
Other-operating. 88% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% 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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -74.2%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 29.02; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.69; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 2.2%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 101.4% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: -31.8% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $537K in reported program spending
  • Leadership: top reported pay $104K · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $178K reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.