Depart Foundation Inc

Nonprofit profile at a glance

EIN
463650588
IRS 990 coverage
2014–2021
Forms available
Form 990 2021
Location
Malibu, CA, USA
Rating confidence
Limited
Sector
Arts Service Organizations and Activities

Reported finances

Revenue
$1,675
Expenses
$72,671
Assets
$91,167
Liabilities
$69,213

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • PIERPAOLO BARZAN (PRESIDENT)

People named in this filing

  • PIERPAOLO BARZAN (PRESIDENT)
  • VALERIA SORCI (DIRECTOR)

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 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

1. Specifically to promote interest in contemporary art, design, architecture and sciences. 2. In furtherance of the above to make contribution of funds to non profit and charitable organizations in the united states and italy, which is dedicated in the development of contemporary artists. 3. To provide grants for research, solicit and collect funds and engage in activities, such as the holding of symposia and informational gatherings for prospective contemporary artists interested in departing from their previous endeavors or predecessors, in order to cultivate, develop and further the knowledge and awareness of non profit and charitable organizations in the united states and italy. 4. To identify strong contemporary artists in the united states and italy for possible enrollment in residency programs. 5. To raise, receive and maintain a fund or funds for, and allocate and apply the principal and income there of for the advancement of the purposes described above

What it reported doing in 2021

To manage and conduct specifically to promote interest in contemporary art, design, architecture and sciences, in furtherance of the above to make contribution of funds to nonprofit and charitable organizations in the united states and italy, which is dedicated in the development of contemporary artists. To provide grants for research, solicit and collect funds and engage in activities, such as the holding of symposia and informational gatherings for prospective contemporary artists interested in departing from their previous endeavors or predecessors, in order to cultivate, develop and further the knowledge and awareness of nonprofit and charitable organizations in the united states and italy. To identify strong contemporary artists in the united states and italy for possible enrollment in residency programs to raise, receive and maintain a fund or funds for, and allocate and apply the principal and income thereof for the advancement of the purposes described above.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Direct operator. The filing allocates 93% 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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 93
  • Accountability: 88
  • Sustainability: 17
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • 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: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 82nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4,238.6%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 1.25; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.76; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -12.2% per year; rating input score 0; 33rd percentile among comparable filings
  • Revenue growth: -99.9% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -6.8% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $73K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 8 filing years from 2014 to 2021
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.