The Octet Collaborative Inc

Nonprofit profile at a glance

EIN
844881059
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Cambridge, MA, USA
Phone
6172853469
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Christianity
Affiliation
Christianity

Official website

Reported finances

Revenue
$349,523
Expenses
$264,204
Assets
$426,897
Liabilities
$3,086

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

Leadership & pay

7 people listed

Executive titles in this filing

  • MIA CHUNG-YEE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • NATHAN BARCZI (SENIOR THEOLOGIAN): $63,000 total reported compensation

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

Overview

Mission

We are a community of faculty, staff, and students at mit dedicated to human flourishing, formed by the historic christian faith.

What it reported doing in 2024

Awe and wonder-- under higher pursuits grant: octet launched a new programming wing called awe and wonder. The higher pursuits program grant monies were used to create several short films on the intersection of the arts to the sciences as a way of priming curiosity, awe, and wonder. These films will be used for viewing and discussion at mit.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 92
  • Accountability: 71
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.2%; rating input score 57
  • Program expense ratio: 75%; rating input score 75
  • Fundraising efficiency: $17.53 raised per $1 spent on fundraising; rating input score 54; 54th 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 24.4%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 1.62; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 23.8%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 40.9% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 31.5% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 46.9% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 57.2% of revenue deployed · 75% of spending went to programs
  • Governance: 6 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $198K in reported program spending
  • Leadership: top reported pay $63K · 7 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • 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.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 54/100.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.