Namic Inc

Nonprofit profile at a glance

EIN
841488263
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2127291677
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$2,981,637
Expenses
$3,440,614
Assets
$1,441,752
Liabilities
$995,825

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

Leadership & pay

20 people listed

Executive titles in this filing

  • A SHUANISE WASHINGTON (PRESIDENT & CEO)

Highest reported compensation

  • A SHUANISE WASHINGTON (PRESIDENT & CEO): $184,818 total reported compensation
  • ANNE-MARIE BURTON (CHIEF, STRATEGY AND PROGRAMS): $158,015 total reported compensation
  • SANDRA GIRADO (VP, EVENTS AND PARTNER RELATIONS): $125,167 total reported compensation

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

Overview

Mission

Namic inc is a not-for-profit trade association that educates, advocates and empowers for multi-ethnic diversity in the communications industry. It cultivates individual careers as well as partnering with our countrys leading media companies who are committed to advancing the business case for diversity.

What it reported doing in 2024

Engages with professionals and the companies in the communication industries by offering education, mentoring, leadership development seminars.

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 87% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 82
  • Accountability: 100
  • Sustainability: 12
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96%; rating input score 96
  • Program expense ratio: 83.2%; rating input score 83
  • Fundraising efficiency: $8.84 raised per $1 spent on fundraising; rating input score 34; 34th percentile among comparable filings

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: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -15.4%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.69; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 17%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: -3.3% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -2.1% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 96% of revenue deployed · 83.2% of spending went to programs
  • Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.9M in reported program spending
  • Leadership: top reported pay $185K · 20 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $223K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes grants and executive pay
  • Filing history: 11 filing years from 2013 to 2024
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 34/100.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.