CURE Collaborations LLC

Nonprofit profile at a glance

EIN
822470728
IRS 990 coverage
2017–2017
Forms available
Form 990 2017
Location
New Haven, CT, USA
Phone
2034702720
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$210,607
Expenses
$210,607
Assets
$258,814
Liabilities
$258,814

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • Susan Froshauer (President & CEO-until 10/20/17)
  • Dawn Hocevar (President & CEO-hired 10/16/17)

Highest reported compensation

  • Dawn Hocevar (President & CEO-hired 10/16/17): $89,103 total reported compensation
  • Stanley Choy (Co-Chair and Treasurer): $38,500 total reported compensation
  • Susan Froshauer (President & CEO-until 10/20/17): $38,462 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

CURE Collaboration, LLC (Collaborations) is a wholly-owned subsidiary of CURE Innovations, LLC. Its purpose is to promote, support and further the charitable, educational and community development activities with Thames River Innovations Places (TRIP).

What it reported doing in 2017

Program to promote, support and further the charitable, educational and community development activities in the Thames River Innovation places which serves as a hub of entrepreneurship, innovation, business development, business growth and public/private collaborations.

Operating model

Revenue model
Grant-funded. 82% of the money available for current operations came from government grants.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The required major-donor schedule is missing or incomplete and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 75
  • Accountability: 75
  • Sustainability: 34
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.2%; rating input score 97
  • Program expense ratio: 97.2%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: No; rating input score 0
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 22nd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 1.23; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

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

Details

  • Where the money goes: 97.2% of revenue deployed · 97.2% of spending went to programs
  • Governance: 14 of 16 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $205K in reported program spending
  • Leadership: top reported pay $89K · 17 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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: Major donor itemization scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.