Studio-180

Nonprofit profile at a glance

EIN
320264137
IRS 990 coverage
2021–2023
Forms available
Form 990 2023, Form 990-EZ 2017, Form 990-N 2019
Location
Minneapolis, MN, USA
Phone
6127208871
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Support N.E.C.

Official website

Reported finances

Revenue
$1,446,972
Expenses
$2,593,433
Assets
$68,264
Liabilities
$268,851

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • WALLACE A ERICKSON (CEO, MEMBER)

Highest reported compensation

  • WALLACE A ERICKSON (CEO, MEMBER): $80,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide training and programming that brings 180 transformation to urban communities.

What it reported doing in 2023

Lake street works program: lake street works (lsw)is a career pathway program designed to prepare teenagers and young adults to navigate the financial challenges of adulthood beginning with earning a consistent living-wage income through a career in construction. The program focuses on minority students ages 14-24. The program is in its start up organizational stage bringing together partners e.g. Trade unions and technical college and to secure funding.

Operating model

Revenue model
Donor-supported. 99% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 86
  • Accountability: 84
  • Sustainability: 8
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.2%; rating input score 91
  • Fundraising efficiency: $12.56 raised per $1 spent on fundraising; rating input score 46; 46th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 15th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -79.2%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 3.94; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 3.1%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 112.7% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 23.3% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 26.5% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.2% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $2.4M in reported program spending
  • Leadership: top reported pay $80K · 10 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2021 to 2023
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.