Cortex Support Corporation

Nonprofit profile at a glance

EIN
812147807
IRS 990 coverage
2016–2023
Forms available
Form 990 2023
Location
St Louis, MO, USA
Phone
3145314500
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$206,964
Expenses
$5,526,565
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • SAM FIORELLO (PRESIDENT/SECRETARY)

Highest reported compensation

  • SAM FIORELLO (PRESIDENT/SECRETARY): $504,655 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization is organized as a supporting organization and will be operated for the benefit of cortex.

What it reported doing in 2023

The organization is the leverage lender in new market tax credits financing for the acquistion and construction of the building located at 4260 forest park.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Affiliate network. The nonprofit sent 97% of its reported program spending through affiliated organizations.

The verdict

SUPPORTED - 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: 71
  • Accountability: 81
  • Sustainability: 5
  • Growth: 40

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; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • 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: 66.7%; rating input score 67; 18th 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: Pass
    • 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: -2,570.3%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.9%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 48.3% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: -40.1% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -9.6% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 3 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $5.5M in reported program spending
  • Leadership: top reported pay $505K · 3 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2016 to 2023
  • Contacts: How to reach this organization
  • 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 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.