1Stact Silicon Valley

Nonprofit profile at a glance

EIN
770489520
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
San Jose, CA, USA
Phone
4082002020
Rating confidence
Limited
Sector
Arts Council/Agency

Official website

Reported finances

Revenue
$1,139,395
Expenses
$2,360,707
Assets
$925,825
Liabilities
$40,759

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

8 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Inspiring leadership, participation and investment at the intersection of arts, creativity and technology.

What it reported doing in 2012

Cultural stewardship - supports and strengthens the arts and culture industry by providing a pipeline of leadership, strategic investment, marketing and branding, and capacity building. With well over 50 partner organizations and 150 leaders engaged, 1stact silicon valley's key projects include livesv, a technology platform for cultural engagement that replaced artspolis, a region-wide marketing campaign called discover the unexepected, the exploration of a shared arts space and services called creative center for the arts, and two leadership development programs called genarts and mali (multicultural arts leadership initiative). A memo of understanding has been signed with arts council silicon valley to carry on cultural stewardship as 1stact silcion valley completes its catalytic role. Mali has been embedded in the school of arts and culture at mhp.about 300,000 people benefited from this program.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: NotEnoughData
  • Transparency & Controls: 80
  • Accountability: 83
  • Sustainability: 19
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 15th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 20th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -107.2%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.39; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 9.4%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.8% per year; rating input score 100; 60th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 8 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.3M in reported program spending
  • Leadership: top reported pay $223K · 8 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 3 filing years from 2010 to 2012
  • 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 — Sustainability: Operating margin scored 1/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.