Tom Tom Foundation

Nonprofit profile at a glance

EIN
462048771
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-EZ 2013
Location
Charlottesville, VA, USA
Phone
4349817045
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Cultural, Ethnic Awareness

Official website

Reported finances

Revenue
$549,272
Expenses
$627,847
Assets
$513,118
Liabilities
$469,534

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

Leadership & pay

4 people listed

Executive titles in this filing

  • PAUL BEYER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • PAUL BEYER (EXECUTIVE DIRECTOR): $95,290 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 champion innovation, creativity, and entrepreneurship in america's small cities, and promote public awareness of best practices for more prosperous and equitable cities.

What it reported doing in 2024

The tom tom foundation is a nonprofit organization in charlottesville va. Our mission is to bring together diverse communities and spark inspiration for a brighter future. Started in 2012, our annual tom tom festival now attracts 25,000+ attendees, and is co-created with hundreds of local partners who tell the story of our community's future through music, art, and ideas each april. Throughout the year, we champion creative expression and innovation in our hometown through dance gatherings, talks, and leadership convenings that serve another 3,000+ citizen leaders. The tom tom foundation received $211,000 in non-cash donations in the form of services, discounts, and space use from business, educational, and government institutions.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 86
  • Accountability: 74
  • Sustainability: 20
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.3%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -14.3%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.82; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.92; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 15.2%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: -2% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 21.6% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.3% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $580K in reported program spending
  • Leadership: top reported pay $95K · 4 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.