MIT Enterprise Forum Inc Group Return

Nonprofit profile at a glance

EIN
911836589
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Cambridge, MA, USA
Phone
6174758013
Rating
50
Verdict
MIXED
Rating confidence
Moderate
Sector
Business and Industry

Reported finances

Revenue
$446,418
Expenses
$370,964
Assets
$677,257
Liabilities
$42,915

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

18 people listed

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Enterprise forums - informational & educational forums established to promote, support and advise innovative technology based companies, mainly in the start up phase, for mit alumni/ae and the general public.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

MIXED - 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 65
  • Accountability: 68
  • Sustainability: 50
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 38.1%; rating input score 38
  • Program expense ratio: 39%; rating input score 39
  • Fundraising efficiency: $8.87 raised per $1 spent on fundraising; rating input score 30; 30th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 84.6%; rating input score 85; 21st percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.9%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 1.83; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 42.1%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -15% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -10.2% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -8.3% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 38.1% of revenue deployed · 39% of spending went to programs
  • Governance: 11 of 13 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $145K in reported program spending
  • Leadership: top reported pay $369K · 18 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 9 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • Related organizations: 3 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 — Financial Efficiency: Mission deployment rate scored 38/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 39/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 30/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.