MARIKA FOUNDATION INCORPORATED A NOT-FOR-PROFIT CORPORATION

EIN: 813302498 501(c)(3) Arts, Culture & Humanities

ROCKPORT, MA

Total Revenue
$46,320
Total Expenses
$65,327
Total Assets
$1,551,517
Net Assets
$1,551,517
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
MA
Principal Officer
DESTA MARIKA
Phone
6177975227
Tax Period
2022-01-01 to 2022-12-31

MARIKA FOUNDATION INCORPORATED A NOT-FOR-PROFIT CORPORATION, founded in 2016, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $46K in total revenue in fiscal year 2022. Revenue fell 69% from the prior year — a significant decline worth monitoring. Expenses of $65K exceeded revenue, resulting in a 41% operating deficit.

Mission

TO EDUCATE THE GENERAL PUBLIC ABOUT EMPOWERMENT OF PEOPLE WORLDWIDE THROUGH IMPROVED HEALTHCARE, ENVIRONMENTAL EFFORTS, AND THE ARTS; TO PROMOTE THE EMPOWERMENT OF PEOPLE WORLDWIDE BY INCREASING ACCESS TO THE ARTS, HEALTHCARE,EDUCATION, AND IMPROVED ENVIRONMENTAL EFFORTS WITH A PARTICULAR FOCUS ON ESTABLISHING AND SUPPORTING GRASSROOTS EFFORTS, ORGANIZATIONS, AND PROGRAMMING PROJECTS.

Program Service Accomplishments

Program 1
Expenses: $630

TO PROMOTE THE EMPOWERMENT OF PEOPLE WORLDWIDE BY INCREASING ACCESS TO THE ARTS, HEALTHCARE, EDUCATION, AND IMPROVED ENVIRONMENTAL EFFORTS, AND TO EDUCATE THE GENERAL PUBLIC ABOUT THE POSSIBILITY OF...

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TO PROMOTE THE EMPOWERMENT OF PEOPLE WORLDWIDE BY INCREASING ACCESS TO THE ARTS, HEALTHCARE, EDUCATION, AND IMPROVED ENVIRONMENTAL EFFORTS, AND TO EDUCATE THE GENERAL PUBLIC ABOUT THE POSSIBILITY OF EMPOWERMENT THROUGH THESE AVENUES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $46,320
Other Revenue $0
TOTAL REVENUE $46,320

Expense Breakdown

Grants Paid $0
Salaries & Benefits $630
Fundraising Expenses $0
Program Expenses $630
Other Expenses $64,697
TOTAL EXPENSES $65,327

Year-over-Year Comparison

2022 2021 Change
Revenue $46,320 $150,301 -0.7%
Expenses $65,327 $100,201 -0.3%
Net Income $-19,007 $50,100 -1.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
4
Independent Members
3
Employees
N/A
Volunteers
3

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
4
$630
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TOM FAHEY BOARD MEMBER 15.00
Director
$630 $0 $630
DESTA JEANNE MARIKA PRES.,CLERK & BOARD MEMBER 5.00
Officer Director
$0 $0 $0
ERIK MARIKA-RICH TREASURER & BOARD MEMBER 2.00
Officer Director
$0 $0 $0
ANURADHA DESAI BOARD MEMBER 2.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2022 $46,320 $65,327 $1,551,517 $-19,007
2021 $150,301 $100,201 $1,994,868 $50,100
2020 $58,918 $128,752 $1,539,594 $-69,834
2019 $11,032 $82,021 $1,484,922 $-70,989
2018 $39,275 $26,249 $1,192,188 $13,026
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