Staurolite Resources

Nonprofit profile at a glance

EIN
464157012
IRS 990 coverage
2014–2020
Forms available
Form 990 2020
Location
Santa Fe, NM, USA
Phone
5059825565
Rating
33
Verdict
REVIEW
Rating confidence
Moderate
Sector
Nonmonetary Support N.E.C.
Affiliation
Christianity

Reported finances

Revenue
$167,552
Expenses
$566,854
Assets
$8,028,266
Liabilities
$10,607,674

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

3 people listed

Highest reported compensation

  • Steve Hansen (Board Member): $511,290 total reported compensation
  • Don Daniel (Board Member): $272,077 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization's purpose is to exclusively support Presbyterian Medical Services financially and operationally.

What it reported doing in 2020

Staurolite Resources serves as the required QALICB entity necessary for Presbyterian Medical Services to participate in the new market tax credit programs.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 56
  • Sustainability: 31
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

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: 33.3%; rating input score 33; 13th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -238.3%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 14.16; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 1.32; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 15.8%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 8.3% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: -4.6% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 1 of 3 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $511K · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2014 to 2020
  • Contacts: How to reach this organization
  • Related organizations: 2 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.

  • High — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.