Modern School of Fashion and Design Inc

Nonprofit profile at a glance

EIN
042037931
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Phone
6175369343
Rating
84
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,118,940
Expenses
$1,169,251
Assets
$7,121,636
Liabilities
$100,568

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

Leadership & pay

8 people listed

Executive titles in this filing

  • SUSAN C LANE (PRESIDENT & CHAIR)

Highest reported compensation

  • JAMES HANNON (DIRECTOR OF OPERATIONS AND COMPLIANCE): $148,365 total reported compensation
  • JANE CONWAY CASPE (DIRECTOR): $1,419 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Educational program offering courses in the applied art of fashion design

Operating model

Revenue model
Earned-program. 69% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 99% 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. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 93
  • Accountability: 94
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 59.3%; rating input score 59
  • Fundraising efficiency: $0.66 raised per $1 spent on fundraising; rating input score 3; 3rd 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: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -4.5%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 6.09; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 12.8%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 5% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 13.9% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 18% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 59.3% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $693K in reported program spending
  • Leadership: top reported pay $148K · 8 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • High — Financial Efficiency: Fundraising efficiency scored 3/100.
  • High — Sustainability: Operating margin scored 25/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Officer compensation ratio scored 28/100.