Multilateral Endowment Management Company

Nonprofit profile at a glance

EIN
842441187
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Edmond, OK, USA
Phone
4057147827
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Management & Technical Assistance

Reported finances

Revenue
$4,919,423
Expenses
$4,919,423
Assets
$3,389,914
Liabilities
$3,389,914

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

Leadership & pay

19 people listed

Highest reported compensation

  • Ryan Harms (CIO): $950,696 total reported compensation
  • Ashley Roche (COO & General Counsel/Secretary): $949,437 total reported compensation
  • Blaire Atkinson (Board member): $563,250 total reported compensation

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

Overview

Mission

To provide best-in-class investment management services, at below market cost, with unparalleled client alignment and transparency.

What it reported doing in 2024

Multilateral Endowment Management Company (MEMCO) is an investment management company dedicated solely to providing investment advisory services to the Oklahoma State University Foundation (OSU Foundation), the Foundation for the McKnight Center for the Performing Arts (McKnight Center), the Office of the Utah State Treasurer (Utah Treasurer), affiliated nonprofits, and nonaffiliated charitable endowments and foundations. MEMCO has delivered strong risk-adjusted returns to its not-for-profit supported organizations at below market cost. All expenses of the Organization are fully reimbursed in the form of management fees and other expenses from its supported organizations. The sole purpose of the Organization is to provide investment management and related services to qualifying public charities.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 77
  • Accountability: 85
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86%; rating input score 86
  • Program expense ratio: 87.2%; rating input score 87
  • 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: Missing
    • Independent consultant: Pass
    • 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: 81.8%; rating input score 82; 15th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.69; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 66.8%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: 18.8% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 19.5% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 20.3% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 86% of revenue deployed · 87.2% of spending went to programs
  • Governance: 9 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.3M in reported program spending
  • Leadership: top reported pay $951K · 19 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • 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 — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.