Minds Matter of Bay Area Inc
Nonprofit profile at a glance
- EIN
- 273077640
- IRS 990 coverage
- 2012–2024
- Forms available
- Form 990 2024, Form 990-EZ 2011
- Location
- San Francisco, CA, USA
- Phone
- 4155793997
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,411,428
- Expenses
- $1,167,610
- Assets
- $2,656,447
- Liabilities
- $57,730
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- IRENE SHIH (CEO)
Highest reported compensation
- IRENE SHIH (CEO): $219,963 total reported compensation
- NIHARIKA RAY (COO): $150,000 total reported compensation
- JENIECE HOWE (CPO): $132,777 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Minds matter bay area (mmbay) is an education nonprofit that connects driven and determined students from low-income families with the people, preparation, and possibilities to succeed in college, create their future, and change the world.we guide driven yet underserved students to graduate from the nation's most selective colleges.
What it reported doing in 2024
Sophomore program: to provide each mentee with educational opportunities and mentoring to prepare them for applying and gaining acceptance into a four-year university. The organization funded the cost of summer study programs for students which included tuition and travel expenses for low income high school sophomores.junior program: to provide each mentee with educational opportunities and mentoring to prepare them for applying and gaining acceptance into a four-year university. The organization funded the cost of summer study programs for students which included tuition and travel expenses for low income high school juniors.senior program is dedicated to supporting students through the college application process, which includes academic elements of the sophomore and junior programs as well as workshops on financial aid and scholarships.the organization received donated services from a variety of unpaid volunteers to assist programs or provide administrative assistance. The estimated hours of services provided by unpaid volunteers for the year ended june 30, 2022 totaled 40,188 and the estimated value was approximately $1,429,000.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Cannot be determined from the filing. The program-spending lines do not add up, so the filing cannot show reliably whether the nonprofit works directly or through others.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 58
- Transparency & Controls: 75
- Accountability: 71
- Sustainability: 62
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 57.8%; rating input score 58
- Program expense ratio: 69.9%; rating input score 70
- Fundraising efficiency: $6.88 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 90%; rating input score 90; 23rd percentile among comparable filings
- Governance controls: 4 of 9 controls in place; rating input score 44
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 17.3%; rating input score 73; 73rd percentile among comparable filings
- Total-asset coverage ratio: 2.28; rating input score 68; 68th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 62; 62nd percentile among comparable filings
- Officer compensation ratio: 43.1%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: 15.5% per year; rating input score 100; 76th percentile among comparable filings
- Revenue growth: 17.3% per year; rating input score 100; 82nd percentile among comparable filings
- Asset growth: 21.1% per year; rating input score 100; 83rd percentile among comparable filings
Details
- Where the money goes: 57.8% of revenue deployed · 69.9% of spending went to programs
- Governance: 9 of 10 board members independent · 4 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $816K in reported program spending
- Leadership: top reported pay $220K · 14 people listed · 1 of 6 pay-setting controls reported
- Consistency: 20 of 20 current checks pass
- Schedules: 7 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: 3 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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.
- Review — Financial Efficiency: Mission deployment rate scored 58/100.
- Moderate — Accountability: Governance controls: 4 of 8 not reported.
- High — Financial Efficiency: Fundraising efficiency scored 26/100.
- High — Sustainability: Officer compensation ratio scored 3/100.