The Morikami Inc

Nonprofit profile at a glance

EIN
591767023
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Delray Beach, FL, USA
Phone
5614950233
Rating
82
Verdict
STRONG
Rating confidence
Standard
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$3,646,713
Expenses
$3,271,469
Assets
$10,703,180
Liabilities
$555,011

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Randal T Baker (President)
  • Robin May (Vice President)
  • Rosie Puello Burkman (Second Vice President)

Highest reported compensation

  • Donald Blackman (Controller): $95,762 total reported compensation

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

Overview

Mission

To support and enhance the operation of the Morikami Museum whose purpose is to preserve and provide education regarding japanese customs and culture.

What it reported doing in 2024

Improvements to county-owned museum: Through an agreement with Palm Beach County, The Morikami, Inc. assists financially and operationally with the maintenance, upkeep, and improvements to the 32,000 sq ft museum facility.

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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 68
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.5%; rating input score 80
  • Program expense ratio: 69.2%; rating input score 69
  • Fundraising efficiency: $5.24 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th 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: 8 of 8 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: 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: 10.3%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 3.27; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 2.9%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 80.5% of revenue deployed · 69.2% of spending went to programs
  • Governance: 5 of 5 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.3M in reported program spending
  • Leadership: top reported pay $96K · 7 people listed
  • Consistency: 24 of 25 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • 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.
  • 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 18/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.