Ibiliti

Nonprofit profile at a glance

EIN
270828389
IRS 990 coverage
2010–2013
Forms available
Form 990 2013
Location
Raleigh, NC, USA
Rating
47
Verdict
MIXED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$217,126
Expenses
$457,121
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Cindy Clark (President)

Highest reported compensation

  • Cindy Clark (President): $219,244 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To educate the public about North Carolina's medical technology industry.

What it reported doing in 2013

The organization offers numerous opportunities for entrepreneurs to attend events, providing multiple touch points for networking face-to-face with those who share common interests and who can serve as abundant sources of information and support. Through conferences and events the organization gathers medtech professionals to talk about the challenges and opportunities in the medical technology industry.

Operating model

Revenue model
Grant-funded. 93% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 99% 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

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: 17
  • Transparency & Controls: 75
  • Accountability: 90
  • Sustainability: 3
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 23%; rating input score 23
  • Program expense ratio: 11.9%; rating input score 12
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 18th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -110.5%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 17%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -24.5% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: -33.6% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 23% of revenue deployed · 11.9% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $54K in reported program spending
  • Leadership: top reported pay $219K · 7 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 4 filing years from 2010 to 2013
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Mission deployment rate scored 23/100.
  • High — Financial Efficiency: Program expense ratio scored 12/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 25/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.