Krewe of Galatea Inc

Nonprofit profile at a glance

EIN
720748480
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Morgan City, LA, USA
Phone
9853846195
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$220,653
Expenses
$207,007
Assets
$78,413
Liabilities
$0

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

Leadership & pay

14 people listed

Executive titles in this filing

  • MARY THOMAS (PRESIDENT)

People named in this filing

  • MICHELE PICOU (CAPTAIN)
  • KINDRA SOLAR (ASSISTANT CA)
  • MARY THOMAS (PRESIDENT)

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

Preserve the mardi gras traditions.

What it reported doing in 2024

Mardi gras observance - parade, court, ball, and related events.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. 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: 93
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 48
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.8%; rating input score 91
  • Program expense ratio: 96.7%; rating input score 97
  • Fundraising efficiency: $281.86 raised per $1 spent on fundraising; rating input score 93; 93rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 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: 6.2%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.38; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: -4.1% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 90.8% of revenue deployed · 96.7% of spending went to programs
  • Governance: 14 of 14 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $200K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2011 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • High — Growth: Asset growth scored 0/100.