Industry One

Nonprofit profile at a glance

EIN
931672009
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Portland, OR, USA
Phone
5038941437
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$949,543
Expenses
$945,711
Assets
$13,484
Liabilities
$7,375

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

Leadership & pay

4 people listed

Executive titles in this filing

  • MERAL J MIDDLETON (CO-PRESIDENT & SECRETARY)
  • OVED VALADEZ (CO-PRESIDENT)
  • JENNIFER L STENSON (EXECUTIVE DIRECTOR)

People named in this filing

  • MERAL J MIDDLETON (CO-PRESIDENT & SECRETARY)
  • OVED VALADEZ (CO-PRESIDENT)
  • AJAY DATE (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule owe believe in the transformative power of creativity to change the world. But to make that change, we have to start with our roots. Industry one is the manifestation of creatives coming together to revitalize our city through more than just art. We create change through self expression, photography, film, food, music, performance, and every facet of creativity that exists. For artists. For people. For portland.

What it reported doing in 2024

In collaboration with multidisciplinary artist georgina trevino, industry one foundation presented "artefactos alterados", an exhibition that examined the transformation of found materials into new forms of meaning and beauty. The collection blended anthropology, craftsmanship, and conceptual artpositioning trevino's creations as both cultural artifacts and contemporary statements. Each piece embodied the artist's exploration of identity, sustainability, and creative reuse.to extend the exhibition's educational impact, industry one hosted two hands-on community workshops led by trevino.the first workshop invited 18 participants to design and create custom jewelry and accessories using small-batch materials and found objects provided by the artist.the second workshop engaged 12 participants in customizing a pair of converse shoes, integrating trevino's distinctive found objects and jewelry elements to encourage self-expression through wearable art. These workshops offered participants an immersive learning experience and reinforced industry one foundation's mission to foster creativity, collaboration, and accessibility within the arts community.

Operating model

Revenue model
Donor-supported. 99% 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 65
  • Accountability: 76
  • Sustainability: 29
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.1%; rating input score 58
  • Program expense ratio: 58.4%; rating input score 58
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.4%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.01; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0.55; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -11.7% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 41.3% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 58.1% of revenue deployed · 58.4% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $552K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • 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 58/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 58/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.