Reasoning Mind Inc

Nonprofit profile at a glance

EIN
760662298
IRS 990 coverage
2012–2018
Forms available
Form 990 2018
Location
Houston, TX, USA
Phone
8322552916
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Official website

Reported finances

Revenue
$-798,498
Expenses
$144,340
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

7 people listed

Highest reported compensation

  • ANDREY V ROMASHOV (VP OF CURRICULUM DEVELOPME): $124,834 total reported compensation
  • TIM TARRILLION (CFO, SECRETARY): $122,864 total reported compensation
  • KONSTANTIN R GUARIAN (HEAD OF MOSCOW BRANCH): $81,683 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Reasoning mind mission is to provide a first-rate math education for every child. To achieve this, we offer an engaging online community that develops students math knowledge and thinking skills, and we help schools and parents bring this to their children.

What it reported doing in 2018

To create an innovative internet-based educational environment that will offer original programs developing k-12 students' thinking skills and creativity, make participating in such programs both enjoyable and rewarding, and provide a common platform to unite and promote similar programs offered by others.

Operating model

Revenue model
Other-operating. 78% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 43% for direct work, and 57% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 72
  • Accountability: 90
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 64.6%; rating input score 65
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -118.1%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 281%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -23.3% per year; rating input score 0; 20th percentile among comparable filings
  • Revenue growth: -18% per year; rating input score 0; 24th percentile among comparable filings
  • Asset growth: -29.2% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 64.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $93K in reported program spending
  • Leadership: top reported pay $125K · 7 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 6 filed schedules · includes foreign activity and grants
  • Filing history: 7 filing years from 2012 to 2018
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 4/100.
  • High — Sustainability: Operating margin scored 16/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.