The Tomaquag Indian Memorial Museum

Nonprofit profile at a glance

EIN
050352796
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Exeter, RI, USA
Phone
4014919063
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Museum, Museum Activities

Reported finances

Revenue
$1,099,843
Expenses
$1,252,576
Assets
$4,395,428
Liabilities
$113,178

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

Leadership & pay

13 people listed

Executive titles in this filing

  • LOREN SPEARS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LOREN SPEARS (EXECUTIVE DIRECTOR): $92,581 total reported compensation

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

Overview

Mission

To enhance education and to promote understanding of the indigenous people/native american indian, and those purposes to maintain a museum and educational facilities to educate the community.

What it reported doing in 2024

Tomaquag museum, rhode islands only indigenous led museum, serves over 22,000 people annually through tours, programs, lectures and events. We provide indigenous art workshops, proffessional development, and tek (traditional ecological knowledge) programs. We empower native voice through first-person experiences for museum visitors. We have a museum store that features indigenous artists. Our museum collection has over 12,000 belongings (artifacts) and our archives has over 100,000 pieces. Our collection is utilized by researchers and partner oranizations. We received the institute of museum and libraries services national medal.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 86
  • Accountability: 100
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.7%; rating input score 77
  • Program expense ratio: 65.4%; rating input score 65
  • Fundraising efficiency: $3.03 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -13.9%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 3.51; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 7.4%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 36.3% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 31.2% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 76.7% of revenue deployed · 65.4% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $820K in reported program spending
  • Leadership: top reported pay $93K · 13 people listed
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • High — Sustainability: Operating margin scored 13/100.
  • Review — Transparency & Controls: Schedule G fundraiser detail did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.