Matthew Siravo Memorial Foundation Inc

Nonprofit profile at a glance

EIN
200096759
IRS 990 coverage
2011–2016
Forms available
Form 990 2016
Location
Warwick, RI, USA
Phone
4019214466
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$223,043
Expenses
$260,402
Assets
$548,962
Liabilities
$0

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

Leadership & pay

13 people listed

Executive titles in this filing

  • Phyllis Fish (Vice President)
  • Joseph Siravo (President)

People named in this filing

  • Daniel Clayton (Board of Directors)
  • Larry Fish (Board of Directors)
  • Phyllis Fish (Vice 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 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide family resources, promote patient safety, and improve the quality of life for children and families living with epilepsy

What it reported doing in 2016

CHILDREN AND FAMILIES SUPPORT AND ACTIVITIES: The Matty Fund was built on several guiding principles. One, to help parents and caregivers cope with children suffering with seizures and the side effects of strong medications. Two, to offer programs and activities for children living with epilepsy that are fun, safe, and inclusive. The Matty Fund's Epilepsy Resource Center for Children and Families, the first of its kind in Rhode Island, offers this support and outreach to families throughout Rhode Island and beyond. The Resource Center offers information, advocacy, and education in a variety of ways. The "Discovering My Epilepsy Support Group" brings parents and caregivers together, both in-person and electronically, to support and learn from others who share similar experiences. Participants help each other navigate complex medical, education, and social systems on behalf of their children; educate each other on potential solutions to social and behavioral issues related to epilepsy; and connect to local, state, and private resources, and participate in children's activities.

Operating model

Revenue model
Donor-supported. 90% 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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 90
  • Accountability: 55
  • Sustainability: 44
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.2%; rating input score 89
  • Program expense ratio: 75.4%; rating input score 75
  • Fundraising efficiency: $9.32 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 26th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 73.3%; rating input score 73; 18th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • 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: -16.7%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 2.11; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: -12.1% per year; rating input score 0; 15th percentile among comparable filings
  • Revenue growth: -2.1% per year; rating input score 0; 27th percentile among comparable filings
  • Asset growth: -2.9% per year; rating input score 0; 25th percentile among comparable filings

Details

  • Where the money goes: 89.2% of revenue deployed · 75.4% of spending went to programs
  • Governance: 11 of 15 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $196K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2011 to 2016
  • 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: 4 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 15/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.