The Philonise and Keeta Floyd Institue

Nonprofit profile at a glance

EIN
853481332
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Manvel, TX, USA
Phone
3462288802
Rating
48
Verdict
MIXED
Rating confidence
Moderate
Sector
Alliance/Advocacy

Official website

Reported finances

Revenue
$500,000
Expenses
$205,906
Assets
$797,237
Liabilities
$46,361

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Philonise Floyd (President)

Highest reported compensation

  • Yocharlakeeta Floyd (Executive Dir.): $98,000 total reported compensation

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

Overview

Mission

Provide Social & Economic change that plagues the minority community through educational resources

What it reported doing in 2024

Musem, and Social Change the direcly affects the minority community

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 53% for direct work, and 47% for grants.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 49
  • Transparency & Controls: 64
  • Accountability: 0
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 29.6%; rating input score 30
  • Program expense ratio: 71.8%; rating input score 72
  • Fundraising efficiency: $51.02 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 13th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 58.8%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 3.87; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 47.6%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 188.7% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: 73.1% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 79.6% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 29.6% of revenue deployed · 71.8% of spending went to programs
  • Governance: 0 of 7 board members independent · 0 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $148K in reported program spending
  • Leadership: top reported pay $98K · 7 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2023 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.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.