Quatere

Nonprofit profile at a glance

EIN
463446895
IRS 990 coverage
2016–2019
Forms available
Form 990 2019, Form 990-N 2013
Location
Salt Lake City, UT, USA
Phone
8013687978
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Economic Development

Official website

Reported finances

Revenue
$239,993
Expenses
$323,834
Assets
$5,236
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • MACKENZIE MANESS (PRESIDENT)

Highest reported compensation

  • MACKENZIE MANESS (PRESIDENT): $4,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Quatere's mission is to provide economic freedom for individuals through entrepreneurship. We help entrepreneurs create products, services, firms and jobs. Quatere makes people better people.

What it reported doing in 2019

We identify promising creators of value and help them be productive. We organize them in focused groups to create opportunities, evaluate those opportunities and determine whether they fit their own skill sets. In this business inception program we teach precision execution, hypothesis testing, reporting and proper povernance to our participants. Educational events are run by the participants themselves and are education focused, designed for the current problems that the entrepreneurs encounter. For new regions we provide a set of openly published documents and best practices to build their program. Frequently our alumni visit these new programs to coach the new directors. Sometimes our alumni become directors when they move to new regions and build programs of their own. Sometimes we provide money for these programs but typically they become funded by the region. We build a set of tools to help directors manage their programs and to help us measure their success.

Operating model

Revenue model
Grant-funded. 92% of the money available for current operations came from government grants.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 19
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.7%; rating input score 99
  • Fundraising efficiency: Limited

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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: -34.9%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 13.2% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 7.7% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 24.2% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $320K in reported program spending
  • Leadership: top reported pay $4K · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $165K reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 4 filing years from 2016 to 2019
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.