Pimento Foundation

Nonprofit profile at a glance

EIN
852988503
IRS 990-EZ coverage
2022–2023
Forms available
Form 990-EZ 2023, Form 990-N 2020
Location
Minneapolis, MN, USA
Phone
2023060645
Rating
92
Verdict
STRONG
Rating confidence
Moderate
Sector
Philanthropy, Charity, Voluntarism Promotion

Reported finances

Revenue
$31,332
Expenses
$87,601
Assets
$57,389

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Hollies Winston (Vice President)

People named in this filing

  • Victor Jones (Chairman)
  • Hollies Winston (Vice President)
  • Shemeka Bogan (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Providing business development experts and case manager to assist minority business owners grow their businesses including through collaborations and conventions. Provide grant funds to Black and minority business owners. Connect minority businesses to venture and other capital opportunities.

What it reported doing in 2023

We encouraged better coordination between active economically focused organizations, bridge the cultural and experience gap between small Black businesses and current funding and support opportunities, established an ecosystem of Black professionals to help Black businesses, and established a venture capital pipeline to support Black entrepreneurship across the Twin Cities by holding and convening summits and monthly town hall meetings.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 97
  • Transparency & Controls: 100
  • Sustainability: 20
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.8%; rating input score 92

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -179.6%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.66; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -35.7% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: 63.1% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: -65.8% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.8% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $80K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2022 to 2023
  • Contacts: How to reach this organization
  • 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 — Sustainability: Operating margin scored 6/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.