Fusion

Nonprofit profile at a glance

EIN
850484135
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Albuquerque, NM, USA
Phone
5057669412
Rating
78
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Theater

Official website

Reported finances

Revenue
$675,726
Expenses
$680,360
Assets
$1,574,438
Liabilities
$1,236,124

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

Leadership & pay

8 people listed

Highest reported compensation

  • Dennis Gromelski (Board Chairman): $74,556 total reported compensation
  • Jacqueline Reid (Treasurer): $72,045 total reported compensation
  • Laurie Thomas (Secretary): $6,146 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Organizations mission is to enhance the quality of performing arts in Albuquerque, NM

What it reported doing in 2024

The Organization performed live performances during the year and returned to their normal schedule of performances supporting local artists and the art community in Albuq., NM.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 93
  • Accountability: 65
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.9%; rating input score 81
  • Program expense ratio: 80.4%; rating input score 80
  • Fundraising efficiency: $8.93 raised per $1 spent on fundraising; rating input score 34; 34th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th 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: 75%; rating input score 75; 16th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.7%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 2.31; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.79; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 22.5%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 8.7% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 20.7% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 80.9% of revenue deployed · 80.4% of spending went to programs
  • Governance: 6 of 8 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $547K in reported program spending
  • Leadership: top reported pay $75K · 8 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 34/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.