Metalwerx Inc

Nonprofit profile at a glance

EIN
134261443
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Waltham, MA, USA
Phone
7818913854
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Vocational, Technical Schools

Reported finances

Revenue
$816,397
Expenses
$841,858
Assets
$540,994
Liabilities
$337,352

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

Leadership & pay

7 people listed

Highest reported compensation

  • Peggy DeMuth (Secretary): $45,300 total reported compensation
  • Laura Burkett (Ex Director): $33,739 total reported compensation
  • Paulette Werger (Director): $15,662 total reported compensation

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

Overview

Mission

Metalwerx promotes the art of jewelery and metals through exceptional classes, workshops, studio space, outreach programming and events for enrichment within a supportive community of artists and learners.

Operating model

Revenue model
Earned-program. 82% of the money available for current operations came from fees and other program 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81%; rating input score 81
  • Program expense ratio: 78.8%; rating input score 79
  • Fundraising efficiency: $6.17 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.1%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.64; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 11.2%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 11.7% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 16.7% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 81% of revenue deployed · 78.8% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $663K in reported program spending
  • Leadership: top reported pay $45K · 7 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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 — Financial Efficiency: Fundraising efficiency scored 23/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 28/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.