Punto Urban Arts Museum Inc

Nonprofit profile at a glance

EIN
883523320
IRS 990 coverage
2023–2024
Forms available
Form 990 2024
Location
Salem, MA, USA
Phone
9787458071
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$818,022
Expenses
$532,213
Assets
$510,411
Liabilities
$137,654

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

Leadership & pay

20 people listed

Executive titles in this filing

  • MIKKI WILSON (PRESIDENT)
  • FAITH GLICKMAN ROSSI (VICE PRESIDENT)
  • FELICIA PIERCE (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • FELICIA PIERCE (CHIEF EXECUTIVE OFFICER): $178,760 total reported compensation
  • JASON PINA (DIRECTOR OF PORTFOLIO MANA): $148,611 total reported compensation
  • ILENE VOGEL (DIRECTOR OF REAL ESTATE): $137,712 total reported compensation

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

Overview

Mission

We believe public art can be a tool to help integrate neighborhoods and create more resilient communities. This is a mission-driven art program with the goal of breaking down invisible socio-economic barriers. Puam offers educational tours on social justice, equity and segregated neighborhoods.

What it reported doing in 2024

Puam offers educational tours on social justice, equity and segregated neighborhoods.

Operating model

Revenue model
Donor-supported. 100% 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 few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 47
  • Transparency & Controls: 64
  • Accountability: 82
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 37.1%; rating input score 37
  • Program expense ratio: 57%; rating input score 57
  • Fundraising efficiency: $23.32 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 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 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 34.9%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 0.96; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 8.4% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 34.6% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 141.8% per year; rating input score 100; 100th percentile among comparable filings

Details

  • Where the money goes: 37.1% of revenue deployed · 57% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $303K in reported program spending
  • Leadership: top reported pay $179K · 20 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 25 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: Mission deployment rate scored 37/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.