Mibor Foundation Inc

Nonprofit profile at a glance

EIN
311158610
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
3179565000
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$463,085
Expenses
$613,803
Assets
$2,554,292
Liabilities
$177,065

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

Leadership & pay

18 people listed

Executive titles in this filing

  • MICHELLE HAMMES (PRESIDENT)
  • SHELLEY SPECCHIO (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SHELLEY SPECCHIO (EXECUTIVE DIRECTOR): $403,215 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 raise funds and foster support for organizations transitioning central Indiana's homeless to safe and secure housing.

What it reported doing in 2024

The realtor foundation supports organizations in central Indiana who serve and house our homeless neighbors. Ranging from victims of domestic violence to men with medical needs and entire families, the foundation's grant recipients just need a helping hand.

Operating model

Revenue model
Donor-supported. 63% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 83% 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 63
  • Accountability: 90
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.4%; rating input score 85
  • Program expense ratio: 62.8%; rating input score 63
  • Fundraising efficiency: $2.1 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 27th 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: 71%; rating input score 71; 46th 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -32.5%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 4.16; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 10.4% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 85.4% of revenue deployed · 62.8% of spending went to programs
  • Governance: 17 of 17 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $385K in reported program spending
  • Leadership: top reported pay $403K · 18 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 18 filed money-flow records
  • Related organizations: 20 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.
  • High — Financial Efficiency: Fundraising efficiency scored 10/100.
  • High — Sustainability: Operating margin scored 9/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.