Mesquite QALICB Inc

Nonprofit profile at a glance

EIN
823098581
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Las Vegas, NV, USA
Phone
7025076165
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$9,897,266
Expenses
$7,408,519
Assets
$0
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Floresto Cabias (President)

Highest reported compensation

  • Floresto Cabias (President): $196,918 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 acquire and lease real or personal property that is subject to certain restrictions and limitations for the benefit of the Las Vegas-Clark County Library District.

What it reported doing in 2024

The Mesquite QALICB obtained financing in an arranged structure under the new markets tax credit program (NMTC). As a result of participating in the NMTC program, Mesquite QALICB entered into two notes payable, which are secured by a deed of trust and assignments of leases and rents. Both of these bear interest at 1% and are payable in quarterly interest-olny payments through December 2024, and quarterly principal and interest payments thereafter through December 2047. The expenses in fiscal year 2024 were the interest of the two loans and building depreciation.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 60
  • Accountability: 56
  • Sustainability: 38
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.3%; rating input score 74
  • Program expense ratio: 99.2%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 9th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • 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: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 25.1%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 52.5% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 61.2% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: -13.2% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 74.3% of revenue deployed · 99.2% of spending went to programs
  • Governance: 3 of 5 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $7.4M in reported program spending
  • Leadership: top reported pay $197K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.