The Santa Maddalena Foundation Inc Co Barbara Spence

Nonprofit profile at a glance

EIN
134093817
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
New York, NY, USA
Phone
2125663200
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Humanities Organizations

Reported finances

Revenue
$238,068
Expenses
$212,973
Assets
$113,654
Liabilities
$4,500

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

Leadership & pay

10 people listed

Executive titles in this filing

  • BEATRICE MONTI DELLA CORTE REZ (President)
  • MARILYN PERRY (Vice President)

People named in this filing

  • ALESSANDRO D' ANSEMBOURG (Director)
  • ZADIE SMITH (Director)
  • PASQUALE PESCE (Director)

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

The santa maddalena foundation for writers was established to honor the great novelist and memoirist gregor von rezzori. The foundations aim is to offer a retreat to writers that provides freedom and tranquility for their work. There is an annual literary prize and four resident fellowships available during each season of the year. The foundation gives special consideration to writers of fiction, nonfiction, poetry, and scripts - and writers engaged in works on the natural world.

Operating model

Revenue model
Affiliate-supported. 84% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 75
  • Accountability: 0
  • Sustainability: 48
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.7%; rating input score 87
  • Program expense ratio: 97%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Limited
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Limited
    • May require repayment: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th 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; 7th 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: 10.5%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 0.53; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 10% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 11.6% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: -0.2% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 86.7% of revenue deployed · 97% of spending went to programs
  • Governance: 0 of 10 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $206K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 4 filed schedules · includes major donors and foreign activity
  • Filing history: 2 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.