The Insect Asylum Inc

Nonprofit profile at a glance

EIN
830581661
IRS 990 coverage
2023–2023
Forms available
Form 990 2023, Form 990-EZ 2022
Location
Chicago, IL, USA
Phone
3129617219
Rating
49
Verdict
MIXED
Rating confidence
Moderate
Sector
Natural History, Natural Science Museums

Reported finances

Revenue
$246,169
Expenses
$208,468
Assets
$65,314
Liabilities
$21,874

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

Leadership & pay

1 person listed

Executive titles in this filing

  • NINA SALEM (EXECUTIVE DIRECTOR)

Highest reported compensation

  • NINA SALEM (EXECUTIVE DIRECTOR): $12,930 total reported compensation

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

Overview

Mission

The Insect Asylum fosters appreciation in animals and the natural world through a unique, immersive, and inclusive educational experience.

What it reported doing in 2023

Animal EDU: partys, animal meet and greet events, museum edu tours of Luccas bio hub animals.

Operating model

Revenue model
Earned-program. 86% of the money available for current operations came from fees and other program revenue.
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

MIXED - The filed numbers largely add up and revenue has grown recently. 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: 21
  • Transparency & Controls: 90
  • Accountability: 44
  • Sustainability: 43
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 25.3%; rating input score 25
  • Program expense ratio: 20.6%; rating input score 21
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 15.3%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 6.2%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 56.2% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 95.6% per year; rating input score 100; 99th percentile among comparable filings

Details

  • Where the money goes: 25.3% of revenue deployed · 20.6% of spending went to programs
  • Governance: 4 of 6 board members independent · 1 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $43K in reported program spending
  • Leadership: top reported pay $13K · 1 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 25/100.
  • High — Financial Efficiency: Program expense ratio scored 21/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.