Fio Mondo Inc

Nonprofit profile at a glance

EIN
844680775
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Stone Mountain, GA, USA
Phone
8153470509
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Opera

Reported finances

Revenue
$322,199
Expenses
$317,714
Assets
$8,162
Liabilities
$9,439

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

Leadership & pay

5 people listed

Executive titles in this filing

  • CASEY MARGERUM (PRESIDENT)
  • CHERYL HUNTER (VICE PRESIDENT)

People named in this filing

  • CASEY MARGERUM (PRESIDENT)
  • ANNALAUREN KELLEY (SECRETARY)
  • CHERYL HUNTER (VICE PRESIDENT)

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

To educate opera singers through operatic performance, language study, performance, voice lessons and vocal coachings in an international setting.

What it reported doing in 2024

Produced 5 operas in 2 different international locations. 55 singers participated in these productions as well as 4 concerts and 1 opera scenes program. The singers also participated in vocal coachings, voice lessons and intensive italian language study

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.5%; rating input score 98
  • Program expense ratio: 98.9%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.4%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 1.16; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 18.6% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 19.5% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 75.8% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 97.5% of revenue deployed · 98.9% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $314K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.