Miracleplaceinc

Nonprofit profile at a glance

EIN
461194921
IRS 990 coverage
2013–2021
Forms available
Form 990 2021
Location
Tampa, FL, USA
Phone
8132091000
Rating confidence
Limited
Sector
Christianity
Affiliation
Christianity

Official website

Reported finances

Revenue
$0
Expenses
$388,713
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • TIM MARKS (PRESIDENT)

Highest reported compensation

  • TIM MARKS (PRESIDENT): $190,125 total reported compensation
  • STACY WAGNER (TREASURER): $34,651 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To act as a supporting organization of metropolitan ministries, inc.

What it reported doing in 2021

Miracleplace, inc. Is a Florida nonprofit corporation formed in october 2012 to accommodate metropolitan ministries, inc. New markets tax credit (nmtc) chapter 1 funding of new construction. In fiscal year 2020 and 2021, the nmtc transactions unwound and as a result, miracleplace was dissolved in june of 2022. The assets of the dissolved entities were transferred to metropolitan ministries, inc. At the time of dissolution.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 77
  • Accountability: 52
  • Sustainability: 3
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 19th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 2.2%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: -7.7% per year; rating input score 0; 41st percentile among comparable filings
  • Revenue growth: -28.7% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: -11.7% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 1 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $389K in reported program spending
  • Leadership: top reported pay $190K · 3 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2013 to 2021
  • Contacts: How to reach this organization
  • 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 — Accountability: Independent voting board scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • High — Growth: Asset growth scored 0/100.