Croma Inc
Nonprofit profile at a glance
- EIN
- 811773306
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-PF 2020
- Location
- Boston, MA, USA
- Phone
- 6175231691
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Private Independent Foundations
Reported finances
- Revenue
- $462,318
- Expenses
- $457,133
- Assets
- $118,582
- Liabilities
- $82,194
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- ELSA MOSQUERA (CHAIR/PRESIDENT)
- PATRICE KEEGAN (VICE CHAIR/VICE PRESIDENT)
People named in this filing
- ELSA MOSQUERA (CHAIR/PRESIDENT)
- PATRICE KEEGAN (VICE CHAIR/VICE PRESIDENT)
- JOSEPH ALEN (SECRETARY/CLERK/MODERATOR)
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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Founded in 2016, croma supports the restoration of boston's historic 20 arlington street as a dynamic and inclusive center for arts, culture, and community-building. We raise resources for the building's $20 million restoration campaign; collaborate on programming for leading-edge latinx performers; and promote the space as a welcoming, inclusive performance hub for under-resourced communities in greater boston. Croma is also responsible for preserving the building's priceless tiffany windows and curating access to them by the general public. Our visitor center is a popular attraction for both bostonians and visitors from around the world.
What it reported doing in 2024
Croma supports the restoration of boston's historic 20 arlington street as a dynamic and inclusive center for arts, culture, and community-building. Our efforts to raise resources for the restoration project are inspired by a growing and deepening sense of the role 20 arlington street can play in celebrating and unifying our 21st century city.
Operating model
- Revenue model
- Donor-supported. 71% of the money available for current operations came from contributions and gifts.
- 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. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 86
- Accountability: 88
- Sustainability: 33
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 87.5%; rating input score 88
- Program expense ratio: 88.5%; rating input score 89
- Fundraising efficiency: $42.34 raised per $1 spent on fundraising; rating input score 74; 74th percentile among comparable filings
Transparency & Controls
- Consistency checks: 92.3%; rating input score 92; 22nd 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: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 1.1%; rating input score 42; 42nd percentile among comparable filings
- Total-asset coverage ratio: 0.26; rating input score 14; 14th percentile among comparable filings
- Liabilities to assets ratio: 0.69; rating input score 8; 8th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: -73% per year; rating input score 0; 1st percentile among comparable filings
- Revenue growth: -77.8% per year; rating input score 0; 0th percentile among comparable filings
- Asset growth: -50.8% per year; rating input score 0; 1st percentile among comparable filings
Details
- Where the money goes: 87.5% of revenue deployed · 88.5% of spending went to programs
- Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $405K in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 19 of 20 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes major donors
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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: 2 of 7 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 42/100.
- High — Sustainability: Total-asset coverage ratio scored 14/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 8/100.