Promotional Fund of the Terrazzo & Mosaic Contractors Association

Nonprofit profile at a glance

EIN
132507195
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-EZ 2013
Location
Armonk, NY, USA
Phone
9142736270
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$124,090
Expenses
$53,677
Assets
$802,611
Liabilities
$5,300

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

Leadership & pay

3 people listed

People named in this filing

  • MICHAEL MAGNAN (TRUSTEE)
  • MICHAEL KRISS (TRUSTEE)
  • JOSEPH IORIO (TRUSTEE)

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

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

Overview

Mission

To promote and to provide technical assistance to member contractors in the mosaic & terrazzo industry

What it reported doing in 2024

To promote & to provide technical assistance to member contractors in the mosaic & terrazzo industry

Operating model

Revenue model
Membership-supported. 82% of the money available for current operations came from membership dues.
Distribution model
Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.5%; rating input score 56
  • Program expense ratio: 89.6%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 56.7%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 14.95; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 11.7% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 56.5% of revenue deployed · 89.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $48K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2014 to 2024
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.