Miami Beach Education Foundation Inc

Nonprofit profile at a glance

EIN
311735967
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2011
Location
Miami Beach, FL, USA
Phone
3056741300
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$151,016
Expenses
$221,507
Assets
$155,333
Liabilities
$1,500

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

Leadership & pay

5 people listed

Executive titles in this filing

  • BRITTNIE R BASSANT (PRESIDENT/CEO)

Highest reported compensation

  • BRITTNIE R BASSANT (PRESIDENT/CEO): $210,693 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 purpose of the miami beach chamber of commerce's education foundation is to bring together the strengths and resources of the community to support the needs of public education in miami beach. To stimulate greater governmental and public awareness and appreciation of the importance of public education in miami beach; to encourage greater and more efficient use of governmental and private resources for the development and support of public education in miami beach; to encourage and support public education in miami beach; to create and support educational opportunities for residents of miami beach.

What it reported doing in 2024

Current components provided by the miami beach chamber's education foundation include a variety of donations for scholarship funds supported by events hosted throughout the year as well as programming to help educate the future leaders of the community. Proceeds help fund programming costs for the international baccalaureate (ib) programs available at all the public schools in the city of miami beach, a unique school system in itself as there is a feeder pattern program with five public schools on miami beach feeding into one public high school. The ib program helps develop the intellectual, personal, emotional, and social skills of students from age 3 to 19 to live, learn, and work in a rapidly globalizing world. In addition to this program, the education foundation is able to provide scholarships at the end of each school year to graduating seniors at miami beach senior high school.

Operating model

Revenue model
Donor-supported. 61% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 79
  • Accountability: 74
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.2%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.6%; rating input score 98; 57th percentile among comparable filings
  • 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: 3 of 8 controls in place; rating input score 38
    • 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: Fail

Sustainability

  • Operating margin: -46.7%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.7; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 10.5% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 7.9% per year; rating input score 100; 59th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.2% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $202K in reported program spending
  • Leadership: top reported pay $211K · 5 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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 — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.