Miami Dade College Foundation Inc

Nonprofit profile at a glance

EIN
596169745
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Miami, FL, USA
Phone
3052373240
Rating
87
Verdict
STRONG
Rating confidence
Standard
Sector
Single Organization Support

Reported finances

Revenue
$43,417,864
Expenses
$42,865,105
Assets
$290,592,657
Liabilities
$36,172,589

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

Leadership & pay

26 people listed

Executive titles in this filing

  • Madeline Pumariega (Miami Dade College President)
  • Nelson Hincapie (CEO)
  • Julia Vives (Interim CEO)

Highest reported compensation

  • Madeline Pumariega (Miami Dade College President): $649,185 total reported compensation
  • Dr Malou Harrison (Executive VP & Provost): $329,250 total reported compensation
  • Nelson Hincapie (CEO): $254,943 total reported compensation

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

Overview

Mission

A direct support organization for Miami Dade College (see Schedule O for additional information)

What it reported doing in 2024

The Foundation awarded numerous scholarships during the current year with a vast majority to students attending Miami Dade College. The remaining scholarships were awarded to graduates of the College for further studies at other colleges and universities. A significant number of scholarship recipients are considered low income and live below the federal poverty level.

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 67% of its reported program spending out as grants.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 81
  • Accountability: 95
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.7%; rating input score 87
  • Fundraising efficiency: $9.51 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 20th 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: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.3%; rating input score 91; 24th 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: 1.3%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 6.78; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 2%; rating input score 77; 77th percentile among comparable filings

Growth

  • Program expense growth: 12.3% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 9.8% per year; rating input score 100; 73rd percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.7% of spending went to programs
  • Governance: 21 of 23 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $37.2M in reported program spending
  • Leadership: top reported pay $649K · 26 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.1M reported
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 4 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 — Financial Efficiency: Fundraising efficiency scored 37/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.