Mainstreet Las Vegas Inc

Nonprofit profile at a glance

EIN
203922979
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Las Vegas, NM, USA
Phone
5053015767
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Historical Societies, Related Historical Activities

Official website

Reported finances

Revenue
$85,591
Expenses
$131,964
Assets
$22,312
Liabilities
$4,721

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

Leadership & pay

9 people listed

Executive titles in this filing

  • John M Peranteau (Executive Director)
  • Makahla A Harapat (Executive Director)
  • Tasha Martinez (President)
  • Reina Fernandez (Vice President)

Highest reported compensation

  • John M Peranteau (Executive Director): $25,000 total reported compensation
  • Makahla A Harapat (Executive Director): $18,750 total reported compensation

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

Overview

Mission

To unify the historic commercial corridor and engender pride in the community while promoting economic development

What it reported doing in 2024

The USDA RURAL Development Department previously awarded a grant to Main Street to assist the needs of community businesses with technical assistance, training needs and other activities to improve their businesses. In 2024 new construction plans were made to expand a community cafe and BBQ restaurant

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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 92
  • Accountability: 21
  • Sustainability: 19
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.5%; rating input score 81
  • Program expense ratio: 52.2%; rating input score 52
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th 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: Pass
    • CEO compensation review process: Fail
    • 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: -54.2%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.17; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 33.2%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 11.8% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: -14% per year; rating input score 0; 26th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 80.5% of revenue deployed · 52.2% of spending went to programs
  • Governance: 0 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $69K in reported program spending
  • Leadership: top reported pay $25K · 9 people listed
  • Consistency: 41 of 41 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2021 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 52/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.