Friends of Midas Inc

Nonprofit profile at a glance

EIN
880330011
IRS 990 coverage
2025–2025
Forms available
Form 990 2025, Form 990-N 2024
Location
Midas, NV, USA
Phone
7753359463
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Historical Societies, Related Historical Activities

Official website

Reported finances

Revenue
$270,298
Expenses
$12,792
Assets
$336,063
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • DANA R BENNETT (PRESIDENT)

People named in this filing

  • PAMELA MORTARA (DIRECTOR)
  • JENNIFER WILHELM (DIRECTOR)
  • JAMES SCHENNUN (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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Friends of midas is dedicated to the preservation and presentation of the history of midas and the surrounding gold circle mining district in northeastern Nevada.

What it reported doing in 2025

The organization preserves and maintains historic properties in midas for the benefit of the public. These include the historic schoolyard, town park, mining display, exhibit area, and the historic midas cemetery (maintained pursuant to delegation from elko county). Activities include groundskeeping, repairs, and general maintenance necessary to protect historically significant assets. Maintaining these sites ensures continued public access to important local historical resources.

Operating model

Revenue model
Donor-supported. 90% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 34
  • Transparency & Controls: 91
  • Accountability: 88
  • Sustainability: 92
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 7.8%; rating input score 8
  • Program expense ratio: 87.5%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 6th 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; 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: 95.3%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 26.27; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

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

Details

  • Where the money goes: 7.8% of revenue deployed · 87.5% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $11K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 8/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.