Secondmuse Foundation

Nonprofit profile at a glance

EIN
842181021
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2022
Location
Lake Oswego, OR, USA
Phone
5148068023
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Service Clubs

Reported finances

Revenue
$940,902
Expenses
$4,154,651
Assets
$787,831
Liabilities
$442,687

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

Leadership & pay

7 people listed

Executive titles in this filing

  • NICOLE MCDONALD (PRESIDENT)

People named in this filing

  • NICOLE MCDONALD (PRESIDENT)
  • ERICA BARBOSA (TREASURER)
  • TODD KHOZEIN (DIRECTOR)

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

The stated mission of secondmuse foundation is to foster and develop diverse, participatory innovation communities that incubate solutions to social, economic and environmental issues; including through public education, facilitating the ability of private, commercial actors, entrepreneurs and governments to generate shared visions and take collective action in advancing solutions that address environmental issues and local economies, and incubating and funding programs and solutions that advance social, environmental and/or economic justice. It will also generate, codify, and publish learnings and insights and facilitate broader discourse to catalyze community development on a larger scale.

What it reported doing in 2024

The secondmuse foundations accomplishments both through direct implementation and fiscal sponsorship of programs, have significantly contributed to enhancing the well-being of both people and the planet. In 2024, we completed our flagship program, get (gender equity in tech) cities, to radically increase equity in tech. In addition, the foundation has also continued two fiscally sponsored projects, both of which ended in 2024. The future economy lab asia, focused on innovating how we create financial mechanisms and collaborative strategies across regions, impact sectors, and communities around the world. The secondmuse foundation sponsored a grant from the visa foundation, to design programs that address barriers faced by gender-smart, climate-positive businesses in accessing capital in south and southeast asia. The foundation has been supporting and sponsoring black tech street (bts) since its inception. In 2023, it hosted def con 31 in collaboration with the white house and many other organizations. It was named part of the national cyber workforce and education strategy and the founder and executive director, tyrance billingsley ii, testified at the congressional black caucus and u.s. Senate committee on the ai and the future of work. In addition, bts created a long-term alliance between microsoft and the greenwood community for the digital transformation of black wall street to train 1000 black tech professionals.

Operating model

Revenue model
Donor-supported. 97% 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 - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 46
  • Accountability: 94
  • Sustainability: 14
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 77.8%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • 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: Pass

Sustainability

  • Operating margin: -341.6%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0.19; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0.56; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 22.3% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: -0.2% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 77.8% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $3.2M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes foreign activity
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.