Hiraya Foundation for Filipino- American Heritage Preservation Inc

Nonprofit profile at a glance

EIN
874757472
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
7329252608
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Cultural, Ethnic Awareness

Official website

Reported finances

Revenue
$41,026
Expenses
$40,962
Assets
$11,591
Liabilities
$55,697

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

Leadership & pay

5 people listed

Executive titles in this filing

  • ROMULO AROMIN JR MD (PRESIDENT/CH)

People named in this filing

  • ROMULO AROMIN JR MD (PRESIDENT/CH)
  • DELY GO (VICE PRESIDE)
  • LARRY SAFRAIN (SECRETARY)

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

Hiraya foundation for the filipino-american heritage preservation, inc. (hiraya foundation) aims to (i) contribute to the conservation of endangered philippine crafts and cultural identities and help elevate these towards sustainability and progress and (ii) work towards the creation of a permanent cultural center in New York city for filipinos, filipino- americans and their supporters. The hiraya foundation shall spearhead the efforts of the filipino-american community in promoting and preserving filipino heritage in the united states and in the philippines and the important contributions of filipinos to american society.

What it reported doing in 2024

The filipino as artist: shaping the american narrative concert this event, held on november 10, 2024, celebrated the rich cultural heritage and artistic talent of filipino musicians. Featuring the renowned performer rowena arietta, the concert presented a diverse repertoire of traditional and contemporary filipino music. Beyond showcasing artistry, the event served as a platform for cultural exchange and community engagement, inspiring audiences through stories of resilience, creativity, and the profound impact of filipino contributions to the arts in america.

Operating model

Revenue model
Donor-supported. 74% 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 44
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.3%; rating input score 50
  • Program expense ratio: 50.4%; rating input score 50
  • 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: 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: 0.2%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.28; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 4.81; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 135.7% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 14.6% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 114.8% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 50.3% of revenue deployed · 50.4% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $21K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 50/100.
  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • Review — Sustainability: Operating margin scored 56/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.