Mystic Krewe of Nyx

Nonprofit profile at a glance

EIN
451432800
IRS 990 coverage
2011–2022
Forms available
Form 990 2022, Form 990-N 2011
Location
New Orleans, LA, USA
Phone
5043389496
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Recreational l Clubs

Official website

Reported finances

Revenue
$194,541
Expenses
$710,928
Assets
$140,400
Liabilities
$220,374

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • JULIE LEA (PRESIDENT/CAPTAIN)

Highest reported compensation

  • JULIE LEA (PRESIDENT/CAPTAIN): $150,266 total reported compensation
  • LORI SEUZENEAU (CO-CAPTAIN): $38,798 total reported compensation
  • MARLENE TRAINOR (TREASURER): $15,900 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Membership dues and assessments provide the funds necessary for the organization to put on the mardi gras parade and carnival for the enjoyment and cultural enhancement of the citizens of new orleans, Louisiana, surrounding parishes and out of state visitors.

What it reported doing in 2022

Mardi gras parade & carnival put on for the entertainment and good of the general public.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 98% 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

MIXED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 70
  • Accountability: 9
  • Sustainability: 5
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 39.5%; rating input score 39
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 21st 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: 100%; rating input score 100; 81st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -265.4%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 1.57; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 28.8%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: -4.4% per year; rating input score 0; 21st percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 20% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 39.5% of spending went to programs
  • Governance: 0 of 3 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $281K in reported program spending
  • Leadership: top reported pay $150K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 11 filing years from 2011 to 2022
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 2 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 39/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.