The Mirasol Foundation Inc

Nonprofit profile at a glance

EIN
812776188
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Palm Beach Gardens, FL, USA
Phone
5619097397
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$767,536
Expenses
$766,969
Assets
$151,525
Liabilities
$23,987

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

Leadership & pay

9 people listed

Executive titles in this filing

  • FRANK RUSSO (PRESIDENT)
  • MARILYN WILSON (PRESIDENT)

People named in this filing

  • SUSAN MILLER (DIRECTOR)
  • JUDITH KNOPF (DIRECTOR)
  • FRANK RUSSO (PRESIDENT)

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

Raising funds to distribute to local not-for-profit organizations

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 92
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.2%; rating input score 94
  • Program expense ratio: 94.2%; rating input score 94
  • Fundraising efficiency: $58.69 raised per $1 spent on fundraising; rating input score 80; 80th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.1%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 19.1% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 15.8% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 6.1% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 94.2% of revenue deployed · 94.2% of spending went to programs
  • Governance: 8 of 8 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $722K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 49 filed money-flow records
  • Related organizations: 49 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 — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.