La Vida Inc
Nonprofit profile at a glance
- EIN
- 043396256
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Lynn, MA, USA
- Phone
- 7815860193
- Rating
- 69
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Roman Catholic
- Affiliation
- Christianity
Reported finances
- Revenue
- $1,342,721
- Expenses
- $1,325,927
- Assets
- $1,331,110
- Liabilities
- $607,856
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- PETER BARROS (EXECUTIVE DIRECTOR)
Highest reported compensation
- PETER BARROS (EXECUTIVE DIRECTOR): $161,215 total reported compensation
- JUDITH BOWE (DIRECTOR OF DEVELOPMENT): $127,144 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
La vida inc.'s mission is to equip low-income, high-achieving students in lynn and chelsea, ma with the resources and preparation they need to enter colleges, and to award parents who save toward college with matched funds and the training necessary to make informed decisions regarding their child's higher education.form 990, part iv, line 12a: form 990 is being prepared with the best available information at the time of filing. Upon completion of the audit, if there are any significant changes, appropriate action will be taken.
What it reported doing in 2024
La vida, inc. Is a three-year after-school college preparatory program for low-income, high-achieving students and their parents who live in the cities of lynn and chelsea, Massachusetts. Student participants evaluate best college fit, complete financial aid and college applications, and begin to plan their future career. Parent participants meet monthly to learn how to support their children in the college selection process.
Operating model
- Revenue model
- Donor-supported. 96% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 97% 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 - 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 expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 67
- Transparency & Controls: 66
- Accountability: 79
- Sustainability: 35
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 67.9%; rating input score 68
- Program expense ratio: 68.2%; rating input score 68
- Fundraising efficiency: $23.88 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- 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: 4 of 8 controls in place; rating input score 50
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- 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: 1.3%; rating input score 40; 40th percentile among comparable filings
- Total-asset coverage ratio: 1; rating input score 43; 43rd percentile among comparable filings
- Liabilities to assets ratio: 0.46; rating input score 17; 17th percentile among comparable filings
- Officer compensation ratio: 21.7%; rating input score 13; 13th percentile among comparable filings
Growth
- Program expense growth: 17.8% per year; rating input score 100; 79th percentile among comparable filings
- Revenue growth: 10.4% per year; rating input score 100; 68th percentile among comparable filings
- Asset growth: 20.1% per year; rating input score 100; 82nd percentile among comparable filings
Details
- Where the money goes: 67.9% of revenue deployed · 68.2% of spending went to programs
- Governance: 10 of 10 board members independent · 4 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $904K in reported program spending
- Leadership: top reported pay $161K · 15 people listed · 1 of 6 pay-setting controls reported
- Consistency: 27 of 28 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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 — Accountability: Governance controls: 3 of 7 not reported.
- Moderate — Sustainability: Operating margin scored 40/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 13/100.
- High — Sustainability: Liabilities to assets ratio scored 17/100.