USA Projects

Nonprofit profile at a glance

EIN
273555175
IRS 990 coverage
2012–2013
Forms available
Form 990 2013
Location
Chicago, IL, USA
Phone
3238575857
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$371,106
Expenses
$558,877
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • TODD SIMON (TRUSTEE/PRESIDENT)

Highest reported compensation

  • KATHARINE DESHAW (TRUSTEE/SECRETARY (UNTIL JUNE 2013)): $323,619 total reported compensation
  • JOHN KJENNER (CFO (UNTIL JANUARY 2013)): $51,599 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

USA projects mission was to invest in america's finest artists and to illuminate the importance of artists in society. The assets and administration of USA projects was transferred in october 2013 to applied information management institute (aim), a Nebraska non-profit corporation, were the programs will continue. The USA projects organization was dissolved in april 2014.

What it reported doing in 2013

USA projects program: USA projects program: at USA projects, visitors can discover exciting new art, support artist projects with donations of any level to USA, and connect with their favorite artists via USA projects community features. USA activity partners in the fundraising process with artists who have met USA projects criteria for project funding. USA projects activity solicits large matching grants, and artists reach out to their followers to encourage gifts of any size. For projects that receive a pre-determined level of public support, USA projects may provide grant funds to the artists for the project presented. After receiving funding, the artists post various types of progress to USA projects and their followers on the website. The ongoing engagement with the public after funding further supports the second half of USA's mission to "illuminate the value of artists to society". The program's assets and administration were transferred to applied information management institute, a Nebraska non-profit corporation in october 2013.

Operating model

Revenue model
Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 92% 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. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 79
  • Accountability: 83
  • Sustainability: 6
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.7%; rating input score 91
  • Program expense ratio: 88.9%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 57th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 20th 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: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -50.6%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 8.5%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -162.5% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -200% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 90.7% of revenue deployed · 88.9% of spending went to programs
  • Governance: 4 of 5 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $497K in reported program spending
  • Leadership: top reported pay $324K · 6 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 2 filing years from 2012 to 2013
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.