Legal Services of Greater Miami Foundation Inc

Nonprofit profile at a glance

EIN
472937610
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Miami, FL, USA
Phone
3054383871
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Support N.E.C.

Reported finances

Revenue
$2,141,686
Expenses
$613,658
Assets
$28,425,251
Liabilities
$222,791

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Jordi Guso (Vice President)
  • Stanley Wakshlag (President)

Highest reported compensation

  • Monica Vigues-Pitan (Secretary): $211,986 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose for which the corporation is organized is exclusively for charitable purposes under Section 501(c)(3) of the Internal Revenue Code and the specific purpose of the corporation is to provide support to Legal Services of Greater Miami.

What it reported doing in 2024

The Foundation's investments provide annual distributions and a long term total return strategy.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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: 49
  • Transparency & Controls: 68
  • Accountability: 95
  • Sustainability: 92
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 28.5%; rating input score 29
  • Program expense ratio: 99.6%; rating input score 100
  • 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: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 71.3%; rating input score 96; 96th percentile among comparable filings
  • Total-asset coverage ratio: 46.32; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 3.3%; rating input score 66; 66th percentile among comparable filings

Growth

  • Program expense growth: 14.6% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: -38.1% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 28.5% of revenue deployed · 99.6% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $611K in reported program spending
  • Leadership: top reported pay $212K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 6 filed schedules · includes grants and executive pay
  • Filing history: 8 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 29/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Board meeting minutes documented not reported.