Hollywood Salsa Festival Inc

Nonprofit profile at a glance

EIN
824537371
IRS 990 coverage
2018–2018
Forms available
Form 990 2018
Location
Pembroke Pines, FL, USA
Phone
9549276988
Rating
47
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$18,431
Expenses
$18,431
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

3 people listed

People named in this filing

  • ISLA M ALMODOVAR (DIRECTOR)
  • CRISTINA MOINELO (DIRECTOR)
  • NELSON FRITZ (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 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To bring latin music and dance to the community at large including elderly organzations and educational events

What it reported doing in 2018

The Hollywood Salsa Festival and its founders Melina Almodovar and Cristina Moinelo have dedicated themselves to the mission of keeping Salsa Music alive and well in our society by dedicating one day a year in the beautiful city of Hollywood, Florida at Arts Park at Young Circle to celebrating and enjoying salsa music in all its forms. We welcome all of you salsa fans to our world of rumba, clave, and guaguanco for our 6th anniversary festival on Saturday, April 6th 2019, 300 pm at Arts Park at Young Circle, Hollywood FL. This event is free for all that want to enjoy the wonders of Salsa Music in all its forms Orchestras, dance performances, djs and more.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - 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: 0
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 34
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

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

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $18K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 9 of 10 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • 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 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Sustainability: Operating margin scored 56/100.