Maharishi Global Development Fund

Nonprofit profile at a glance

EIN
522052522
IRS 990 coverage
2010–2016
Forms available
Form 990 2016
Location
Fairfield, IA, USA
Phone
6414725191
Rating confidence
Limited
Sector
Federated Giving Programs

Reported finances

Revenue
$-18,472,259
Expenses
$58,769,595
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • HARRIS KAPLAN (PRESIDENT/DIRECTOR)

Highest reported compensation

  • NICOLE DEL LA ROSA (DIRECTOR/TREASURER): $60,000 total reported compensation
  • RICHARD QUINN (DIRECTOR): $23,775 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The primary purpose of maharishi global development fund is to educate and inspire the public about the creation of healthy housing (ideal homes and workplaces in properly designed communities) and to improve the health, well being, and overall quality of life for all those who live and work in these facilities.

What it reported doing in 2016

The MAHARISHI GLOBAL DEVELOPMENT FUND (MGDF) Board of Directors, after due deliberation, decided to close the entity in 2016 and transfer all assets and liabilities to Brahmananda Saraswati Foundation (BSF), a U.S. based 501(c)(3) corporation with similar goals and programs that are closely aligned to MGDFs own corporate purposes. All assets and liabilities were disbursed to BSF by year-end. The distribution is the net value of all MGDF's assets and liabilities which BSF agreed to receive and to use accordingly based on similar goals and programs. The goals in principle are to make the scientifically based, educational programs of Transcendental Meditation, available to people in every country around the world.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 7
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 99.6%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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; 64th 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: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -418.2%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.1%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 87.4% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: Limited
  • Asset growth: -18.5% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 99.6% of spending went to programs
  • Governance: 13 of 13 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $58.5M in reported program spending
  • Leadership: top reported pay $60K · 13 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2010 to 2016
  • 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.

  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 23/100.