Media Development Investment Fund Inc

Nonprofit profile at a glance

EIN
134052259
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2128071304
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Private Grantmaking Foundations

Official website

Reported finances

Revenue
$14,728,288
Expenses
$13,882,026
Assets
$53,784,766
Liabilities
$19,495,459

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

Leadership & pay

17 people listed

Executive titles in this filing

  • HARLAN MANDEL (CHIEF EXECUTIVE OFFICER)
  • PREMESH CHANDRAN (SENIOR ADVISOR TO CEO (OUTGOING))

Highest reported compensation

  • HARLAN MANDEL (CHIEF EXECUTIVE OFFICER): $411,995 total reported compensation
  • DAN MARGOSHES (CHIEF FINANCIAL OFFICER): $283,920 total reported compensation
  • ELENA POPOVIC (SECRETARY/GENERAL COUNSEL): $256,625 total reported compensation

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

Overview

Mission

Mdif provides affordable financing and technical assistance to independent news and information organizations in challenging environments, helping them to become financially sustainable. See schedule o for continuation.

What it reported doing in 2024

Mdif provides loan and equity financing by way of "program related investments" (pris) to further its charitable mission. Mdif maintains a segregated pool of funds from which it makes pris. Return of invested capital is recycled through the pool for reinvestment.with every pri, mdif provides customized training and technical assistance to media organizations at varying stages of the business life cycle. In addition, mdif trains media organizations in the use of digital and transformational technology for enhancing the sustainability of the media organization.see schedule o for continuation.

Operating model

Revenue model
Donor-supported. 71% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 72
  • Accountability: 93
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.6%; rating input score 80
  • Program expense ratio: 83.5%; rating input score 83
  • Fundraising efficiency: $46.63 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • 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: 3 of 8 controls in place; rating input score 38
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Pass
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 85.7%; rating input score 86; 18th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 87.5%; rating input score 88; 20th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.7%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 3.87; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 15.5%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 9.3% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 10.1% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 10th percentile among comparable filings

Details

  • Where the money goes: 79.6% of revenue deployed · 83.5% of spending went to programs
  • Governance: 7 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $11.6M in reported program spending
  • Leadership: top reported pay $412K · 17 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 37 of 38 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, foreign activity, executive pay, and related organizations
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 5 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.

  • Moderate — Transparency & Controls: Foreign activity oversight: 5 of 8 not reported.
  • Review — Sustainability: Operating margin scored 56/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.