The Lotos Foundation Inc
Nonprofit profile at a glance
- EIN
- 311706276
- IRS 990 coverage
- 2018–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2127377100
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Historical Societies, Related Historical Activities
Reported finances
- Revenue
- $323,127
- Expenses
- $218,106
- Assets
- $1,228,538
- Liabilities
- $10,900
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- PATRICK J FRAWLEY (PRESIDENT)
- MELVIN STECHER (VICE PRESIDENT)
People named in this filing
- PATRICK J FRAWLEY (PRESIDENT)
- MELVIN STECHER (VICE PRESIDENT)
- BRUCE E BALDINGER (TREASURER)
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
See schedule o.the lotos foundation, inc. (the "foundation") is a public charity organization that was incorporated in 1999 in the state of New York. The purpose of the foundation is to promote and develop literature, art, sculpture, music, architecture, journalism, drama, science and the learned professions, encouraging authors, students of the musical, dramatic and learned professions in their work, granting scholarships, and through other means as may be determined from time to time, maintaining archives and any similar resources, as well as engaging in other worthwhile activities that may be determined from time to time. Among the foundation's charitable missions and tax-exempt purposes is the preservation and maintenance of the architectural integrity and design of the publicly visible facade of the landmarked building located at five east sixty-sixth street.
What it reported doing in 2024
The preservation and maintenance of the architectural integrity and design of the publicly visible facade of the landmarked building located at five east sixty-sixth street.
Operating model
- Revenue model
- Donor-supported. 75% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 89% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 56
- Transparency & Controls: 94
- Accountability: 100
- Sustainability: 77
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 51.9%; rating input score 52
- Program expense ratio: 66.8%; rating input score 67
- Fundraising efficiency: $12.56 raised per $1 spent on fundraising; rating input score 45; 45th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
- 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: 7 of 7 controls in place; rating input score 100
- 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: Pass
Sustainability
- Operating margin: 32.5%; rating input score 84; 84th percentile among comparable filings
- Total-asset coverage ratio: 5.63; rating input score 81; 81st percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 46; 46th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: -37.8% per year; rating input score 0; 3rd percentile among comparable filings
- Revenue growth: -24.9% per year; rating input score 0; 2nd percentile among comparable filings
- Asset growth: -3.9% per year; rating input score 0; 12th percentile among comparable filings
Details
- Where the money goes: 51.9% of revenue deployed · 66.8% of spending went to programs
- Governance: 18 of 18 board members independent · 7 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $146K in reported program spending
- Leadership: top reported pay $0 · 18 people listed
- Consistency: 23 of 23 current checks pass
- Schedules: 6 filed schedules · includes major donors and grants
- Filing history: 7 filing years from 2018 to 2024
- Contacts: How to reach this organization
- Money network: 8 filed money-flow records
- Related organizations: 8 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.
- Review — Financial Efficiency: Mission deployment rate scored 52/100.
- Moderate — Financial Efficiency: Fundraising efficiency scored 45/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 46/100.