New England Carousel Museum Inc

Nonprofit profile at a glance

EIN
061261386
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
Bristol, CT, USA
Phone
8605855411
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$507,117
Expenses
$498,957
Assets
$898,792
Liabilities
$206,077

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Jennifer O'Connor (President)
  • CATE MAHONEY (President Elect)

Highest reported compensation

  • Morgan Urgo (Executive Dir.): $44,281 total reported compensation

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

Overview

Mission

Acquisition, restoration and preservation of carousel artifacts.

What it reported doing in 2024

The organization operates a museum for displaying carousel memorabilia, providing tours and educating the general public. The museum also provides carousel horse restoration services. In addition, the organization maintains an operating carousel for the pleasure of the general public.

Operating model

Revenue model
Donor-supported. 67% of the money available for current operations came from contributions and gifts.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 45
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.9%; rating input score 52
  • Program expense ratio: 52.3%; rating input score 52
  • Fundraising efficiency: $7 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 1.6%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 1.8; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.23; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 8.9%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: -3.6% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 51.9% of revenue deployed · 52.3% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $261K in reported program spending
  • Leadership: top reported pay $44K · 11 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Financial Efficiency: Program expense ratio scored 52/100.
  • High — Financial Efficiency: Fundraising efficiency scored 27/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.