Michael R Mcnulty Center for Veteran Entreprenuerial Activity Inc

Nonprofit profile at a glance

EIN
830873500
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019, Form 990-N 2018
Location
Watervliet, NY, USA
Phone
5183265522
Rating
85
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$531,759
Expenses
$549,545
Assets
$293,613
Liabilities
$30,330

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

Leadership & pay

11 people listed

Executive titles in this filing

  • LAURA MANN (PRESIDENT)
  • KATHERINE CARUSO (EXECUTIVE DIRECTOR)
  • MARIO COMETTI (VICE PRESIDENT)

Highest reported compensation

  • KATHERINE CARUSO (EXECUTIVE DIRECTOR): $121,227 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 organization was formed to provide entrepreneurial training, counseling and network connections to veterans, transitioning service members and their spouses. The organization leverages emerging technologies to harness and strenghten the veteran business ecosystem providing services both virtually and in-person.

What it reported doing in 2024

Provide entrepreneurial training, counseling and network connections to veterans, transitioning service members and thier spouses.

Operating model

Revenue model
Grant-funded. 83% of the money available for current operations came from government grants.
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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.5%; rating input score 83
  • Program expense ratio: 79.8%; rating input score 80
  • Fundraising efficiency: $52.24 raised per $1 spent on fundraising; rating input score 78; 78th 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: 7 of 8 controls in place; rating input score 88
    • 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: Pass

Sustainability

  • Operating margin: -3.3%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.53; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 22.1%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 15.5% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 21.3% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 22.3% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 82.5% of revenue deployed · 79.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $439K in reported program spending
  • Leadership: top reported pay $121K · 11 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.