Coca Leverage Lender Inc

Nonprofit profile at a glance

EIN
832497858
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Saint Louis, MO, USA
Phone
3147251834
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Philanthropy, Charity, Voluntarism Promotion

Reported finances

Revenue
$104,814
Expenses
$109,139
Assets
$10,543,976
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • INDIGO SAMS (PRESIDENT & CEO)

Highest reported compensation

  • INDIGO SAMS (PRESIDENT & CEO): $246,648 total reported compensation

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

Overview

Mission

The corporation is organized and at times thereafter shall be operated exclusively for the benefit of, to perform the functions of, or to carry out the tax-exempt purposes of the center of creative arts ("coca") under sections 501(c)(3) and 509(a)(3) of the internal revenue code of 1986. The purposes for which the corporation is organized include, but are not limited to, the following: to receive gifts and grants and to use such gifts and grants for its proper purposes, or to make distributions thereof for purposes and activities that qualify as exempt under code section 501(c)(3); and to otherwise operate in support of and in furtherance of the tax-exempt purposes of the supported organization.

What it reported doing in 2024

Coca leverage lender is a party to the new markets tax credit financing transaction which is allowing center of creative arts, its supported organization, to expand and improve its facilities in furtherance of its exempt mission.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 68
  • Accountability: 83
  • Sustainability: 56
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 21st percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.1%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 96.61; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 10.6%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 13.4% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: -70% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $105K in reported program spending
  • Leadership: top reported pay $247K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 28/100.