Mela Foundation Inc

Nonprofit profile at a glance

EIN
133352195
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
New York, NY, USA
Phone
2129258270
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$238,447
Expenses
$249,320
Assets
$21,031
Liabilities
$706,712

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

Leadership & pay

9 people listed

Executive titles in this filing

  • JUNG HEE CHOI (Vice President)
  • MICHAEL L COMMONS (Vice President)
  • JON HENDRICKS (President)

Highest reported compensation

  • JUNG HEE CHOI (Vice President): $64,600 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 foundation is dedicated to creative work in music, visual arts and other media and to the presentation of major extended installations the expand traditional boundaries of the arts. The foundations activities include performances, exhibitions, film, video and radio presentations, teaching, research and publications. In addition the foundation develops and maintains extensive archives of the work of central figures in contemporary arts.

What it reported doing in 2024

The foundation is dedicated to creative work in music, visual arts and other media and to the presentation of major extended installations that expand traditional boundaries of the arts. The foundations activities include performances, exhibitions, film, video and radio presentations, teaching, research and publications. In addition the foundation develops and maintains extensive archives of the work of central figures in contemporary arts.

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 - 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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 63
  • Sustainability: 18
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.1%; rating input score 84
  • Program expense ratio: 80.4%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.6%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.08; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 33.6; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 25.9%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: -1.6% per year; rating input score 0; 18th percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 84.1% of revenue deployed · 80.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $201K in reported program spending
  • Leadership: top reported pay $65K · 9 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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: 6 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.