The Midori Foundation Inc

Nonprofit profile at a glance

EIN
133682472
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2127671300
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,829,944
Expenses
$2,014,044
Assets
$1,757,811
Liabilities
$544,954

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

24 people listed

Executive titles in this filing

  • LARISA GELMAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LARISA GELMAN (EXECUTIVE DIRECTOR): $220,178 total reported compensation
  • THOMAS CAWLEY (CFO): $157,746 total reported compensation
  • LUZ MACMANUS (VP OF DEVELOPMENT): $115,714 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Midori & friends harnesses the power of music to transform the lives of children and enrich their communities.

What it reported doing in 2024

Other innovative programs that create lasting impact include: 1. Journey to japan immerses students in an exploration of japanese artistry and musical traditions. 2. The midori summer music lab is a week-long immersive summer institute that offers musicians ages 13-18 an exclusive opportunity to elevate their artistry, leadership, and advocacy skills in the heart of New York city. 3. A professional development series provides critical training and enrichment to support our teaching artists' evolution as instructors and as role models in the classroom, including group workshops, peer mentoring, and observations that serve as a continuous forum in which teaching artists solidify goals, develop strategies, and bridge programs to curriculum.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

SUPPORTED - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 74
  • Accountability: 100
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.1%; rating input score 77
  • Program expense ratio: 70%; rating input score 70
  • Fundraising efficiency: $4.12 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -10.1%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 0.87; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 24.5%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 1.6% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 0% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 77.1% of revenue deployed · 70% of spending went to programs
  • Governance: 21 of 21 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $1.4M in reported program spending
  • Leadership: top reported pay $220K · 24 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Financial Efficiency: Fundraising efficiency scored 13/100.
  • High — Sustainability: Operating margin scored 17/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.