Fundacion Corazones Magicos Inc

Nonprofit profile at a glance

EIN
832244527
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
La Mirada, CA, USA
Phone
5624074373
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$50,792
Expenses
$47,603
Assets
$43,240
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Kathy Viteri (President)

People named in this filing

  • Fortuna Vanini-May (Vocal)
  • Elena Abregu (Vocal)
  • Kathia F Viteri (Vocal)

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

We seek to become a hope for children with cancer.

What it reported doing in 2024

Treatment of a child with Cancer Casa Magia.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 78
  • Accountability: 6
  • Sustainability: 51
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70%; rating input score 70
  • Program expense ratio: 74.7%; rating input score 75
  • Fundraising efficiency: $4.58 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 81.8%; rating input score 82; 3rd 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: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.3%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 0.91; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 8.1% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 2.8% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 70% of revenue deployed · 74.7% of spending went to programs
  • Governance: 0 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $36K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 17 of 19 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2021 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Foreign grants require schedule f did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.