The Tampa Museum of Art Operations & Special Events Inc

Nonprofit profile at a glance

EIN
465497748
IRS 990 coverage
2016–2020
Forms available
Form 990 2020
Location
Tampa, FL, USA
Phone
8134218363
Rating confidence
Limited
Sector
Single Organization Support

Official website

Reported finances

Revenue
$0
Expenses
$8,973
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • MICHAEL A TOMOR (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MICHAEL A TOMOR (EXECUTIVE DIRECTOR): $238,940 total reported compensation
  • DEBORAH MCCARTHY (FORMER CFO): $80,966 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To organize, conduct, carry on, exhibit and promote programs, projects and collections for bringing about better understanding and appreciation of all art forms.

What it reported doing in 2020

The tampa museum of art operations and special events, inc. (tmaos) was formed to accept funds from a new market tax credits transaction. During the year ended december 31, 2019, the organization exercised a series of put and call options to unwind and subsequently terminate the new markets tax credit agreement. All agreements between tma and tmaos associated with the transaction were terminated during the year ended december 31, 2020.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 90
  • Sustainability: 1
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 26th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: Limited
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 142.2%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -26.4% per year; rating input score 0; 19th percentile among comparable filings
  • Revenue growth: -17.6% per year; rating input score 0; 24th percentile among comparable filings
  • Asset growth: -47.5% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 0% of spending went to programs
  • Governance: 10 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $239K · 12 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2016 to 2020
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.