Monaco Air Foundation Inc

Nonprofit profile at a glance

EIN
261211672
IRS 990-EZ coverage
2021–2023
Forms available
Form 990-EZ 2023, Form 990-N 2008
Location
Duluth, MN, USA
Phone
2187272911
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public, Society Benefit N.E.C.

Reported finances

Revenue
$966
Expenses
$4,018
Assets
$0
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Don Monaco (President and Director)
  • Mike Magni (Vice-President, Secretary-Treasurer, and Director)

People named in this filing

  • Don Monaco (President and Director)
  • Mike Magni (Vice-President, Secretary-Treasurer, and Director)
  • Greg Fox (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide charitable services to the local community directly served by the Duluth International Airport that would otherwise not be provided by the Authority itself.

What it reported doing in 2023

Conducted Duluth International Airport tours for students.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 82
  • Sustainability: 9
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 75%; rating input score 75

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -315.9%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -59.4% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -4.4% per year; rating input score 0; 38th percentile among comparable filings
  • Asset growth: -75.5% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 75% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $3K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2021 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.