Minds Matter of Seattle Inc

Nonprofit profile at a glance

EIN
463036059
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2021, Form 990-N 2014
Location
Seattle, WA, USA
Phone
2063694187
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Youth Development Programs

Reported finances

Revenue
$341,067
Expenses
$323,448
Assets
$551,157
Liabilities
$6,181

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

Leadership & pay

20 people listed

Executive titles in this filing

  • VICTOR ZAMORA (EXECUTIVE DIRECTOR)

Highest reported compensation

  • VICTOR ZAMORA (EXECUTIVE DIRECTOR): $99,316 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 of seattle, inc. Is a not-for-profit organization that is dedicated to transforming the lives of accomplished high school students from low income families by broadening their dreams and preparing them for college success.

What it reported doing in 2024

Minds matter of seattle, inc. Principal program expenses include 1) covering the costs of students attneding summer enrichment programs around the country, including transportation if required. 2) covering the costs of lunch for students at saturday sessions. 3) covering the costs of expenses that serve as barriers to student success, including calculators, books, test preparation materials, application fees, test fees, etc.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 45% for direct work, and 55% for grants.

The verdict

STRONG - 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: 76
  • Transparency & Controls: 84
  • Accountability: 90
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.1%; rating input score 84
  • Program expense ratio: 88.3%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 95.5%; rating input score 95; 55th 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: 5.2%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 1.7; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 30.7%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 25.3% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 15.9% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 19.8% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 84.1% of revenue deployed · 88.3% of spending went to programs
  • Governance: 14 of 14 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $285K in reported program spending
  • Leadership: top reported pay $99K · 20 people listed
  • Consistency: 18 of 20 current checks pass · 2 findings to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Operating margin scored 51/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.