Springstep Inc

Nonprofit profile at a glance

EIN
412106366
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
Framingham, MA, USA
Phone
5087881430
Rating confidence
Limited
Sector
Professional Societies, Associations

Official website

Reported finances

Revenue
$232,657
Expenses
$389,724
Assets
$400,049
Liabilities
$86,835

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

7 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Springstep's mission is to serve as a center to celebrate dance, music, and art from cultures around the world. We strengthen communities by encouraging participation in and appreciation for the arts. We offer shared experiences for people to participate in classes, social dances, gallery exhibits, and community events that nurture creativity, convene people from diverse cultures, and contribute to a healthy society.

What it reported doing in 2012

Community programswe produced 3 community events in this wind-down year which include seasonal arts festivals, class sampler days, student art shows, and gallery openings and receptions. In addition, we partnered with local human service organizations such as the medford family network on an annual international family festival, a program that builds cultural awareness about the diverse heritages of school-aged children from over 50 countries we also partner with our affiliates who offer intergenerational community dances offering free or low-cost cultural events to the broader community.

Operating model

Revenue model
Other-operating. 77% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 86
  • Sustainability: 26
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th 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: 85.7%; rating input score 86; 22nd 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -67.5%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 1.03; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 74; 74th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -51.1% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -23.1% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $214K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2010 to 2012
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.