Mosaico Business & Community Development Corporation

Nonprofit profile at a glance

EIN
273089703
IRS 990 coverage
2010–2017
Forms available
Form 990 2017
Location
Bristol, RI, USA
Phone
4012532135
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$602,528
Expenses
$572,439
Assets
$3,411,712
Liabilities
$2,830,626

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • MERRITT MEYER (PRESIDENT)

Highest reported compensation

  • DIANA CAMPBELL (EXECUTIVE DI): $26,985 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Community purpose ownership, management, and development of real estate. To rehabilitate and execute long-term management of the historic site known as the bristol industrial park. The goals of the organization are to rehabilitate the property in consideration of its historic character and economic development potential to the region. To perform rehabilition of bristol industrial park for use by local businesses to help bring jobs to the area and improve the community and neighborhod the park boarders.

What it reported doing in 2017

Necessary remediation and renovations in order to have the property removed from the blighted list, to offer competitively-priced, attractive industrial, business, and commercial space, and to provide advisory and consulting services to assist with ecomonic development in a severely depressed neighborhood where low to moderate income individuals predominate.

Operating model

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

SUPPORTED - 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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 90
  • Accountability: 79
  • Sustainability: 59
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.8%; rating input score 74
  • Program expense ratio: 77.6%; rating input score 78
  • Fundraising efficiency: $33.55 raised per $1 spent on fundraising; rating input score 73; 73rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 5.96; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 4.7%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: -2.7% per year; rating input score 0; 20th percentile among comparable filings
  • Revenue growth: 11.3% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 9.6% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 73.8% of revenue deployed · 77.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $444K in reported program spending
  • Leadership: top reported pay $27K · 9 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2010 to 2017
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.