The Myelin Project

Nonprofit profile at a glance

EIN
521545992
IRS 990 coverage
2009–2017
Forms available
Form 990 2017
Location
Pacific Palisades, CA, USA
Phone
9166520202
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Specifically Named Diseases Research

Reported finances

Revenue
$59,767
Expenses
$73,029
Assets
$375,528
Liabilities
$3,000

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • PATTI CHAPMAN (PRESIDENT)
  • GREG BENTON (VICE PRESIDENT)

Highest reported compensation

  • GREG BENTON (VICE PRESIDENT): $23,634 total reported compensation
  • DEBORAH EDWARD (TREASURER): $12,711 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To accelerate research on myelin repair, also know as remyelination, to coordinate and fund research, provide public education with respect to the research and to promote the sharing of findings

What it reported doing in 2017

To accelerate research on myelin repairs, also known as remyelination

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 61% of its reported program spending out as grants.

The verdict

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 81
  • Accountability: 68
  • Sustainability: 37
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 36%; rating input score 36
  • Program expense ratio: 29.3%; rating input score 29
  • Fundraising efficiency: $28.19 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: No; rating input score 0
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -22.2%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 5.14; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 49.8%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -19.3% per year; rating input score 0; 24th percentile among comparable filings
  • Revenue growth: -11.6% per year; rating input score 0; 33rd percentile among comparable filings
  • Asset growth: 7.3% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 36% of revenue deployed · 29.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $21K in reported program spending
  • Leadership: top reported pay $24K · 10 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2009 to 2017
  • Contacts: How to reach this organization
  • Money network: 2 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.

Key Signals

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

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Financial Efficiency: Mission deployment rate scored 36/100.
  • High — Financial Efficiency: Program expense ratio scored 29/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
  • High — Grant Readiness: California registration: this organization is not authorized to operate as a charity in California.