Higher Education Makerspaces Initiative Inc

Nonprofit profile at a glance

EIN
824508587
IRS 990 coverage
2022–2022
Forms available
Form 990 2022, Form 990-N 2021
Location
Cambridge, MA, USA
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Reported finances

Revenue
$257,235
Expenses
$211,440
Assets
$107,324
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • Marlo Kohn (President)

People named in this filing

  • Marlo Kohn (President)
  • Jonathan Hunt (Treasurer)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Higher Education Makerspaces Initiatives HEMI is a collaborative of leading universities focused on solving the challenges of academic makerspaces and making their combined learnings available to others. HEMI hosts an annual convention and publishes an electronic academic journal.

What it reported doing in 2022

Hosted the annual conference at Georgia Tech University

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 95% 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 a large share of available resources goes toward mission work. 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: 65
  • Transparency & Controls: 100
  • Accountability: 64
  • Sustainability: 59
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68%; rating input score 68
  • Program expense ratio: 82.8%; rating input score 83
  • 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; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 17.8%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 0.51; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

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

Details

  • Where the money goes: 68% of revenue deployed · 82.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $175K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • 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: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.