Tms West

Nonprofit profile at a glance

EIN
812226622
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Cleveland, OH, USA
Phone
2164215806
Rating confidence
Limited
Sector
Single Organization Support

Reported finances

Revenue
$0
Expenses
$100,289
Assets
$3,401,965
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • JOHN W WALDECK JR (VICE PRESIDENT & TREASURER)
  • DEBORAH A WILCOX (VICE PRESIDENT)
  • GERALYN M PRESTI (PRESIDENT)

Highest reported compensation

  • GERALYN M PRESTI (PRESIDENT): $191,000 total reported compensation

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

Overview

Mission

Tms west, wholly owned by the music settlement, was incorporated in the state of Ohio as a not-for-profit organization for the purpose of establishing a qualified active low- income community business participating in a new markets tax credit (nmtc) real estate development project on cleveland's west side. Tms west owns a commercial unit in a new mixed-use residential and commercial building constructed in 2018. Under a long-term agreement tms west leases its facility to the music settlement for operating its programs on cleveland's west side. The music settlement's programs at this location include early childhood, music lessons and music therapy services.

What it reported doing in 2024

There were no applicable program services this fiscal year.

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: 83
  • Sustainability: 34
  • Growth: 40

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; 63rd 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: 80%; rating input score 80; 25th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: Limited
  • Total-asset coverage ratio: 33.92; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: Limited
  • Revenue growth: 42.9% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: -5% per year; rating input score 0; 21st percentile among comparable filings

Details

  • Where the money goes: 0% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $191K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • 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 — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.