African American Cultural Festival of Raleigh Wake County Inc

Nonprofit profile at a glance

EIN
900636941
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Raleigh, NC, USA
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Cultural, Ethnic Awareness

Reported finances

Revenue
$416,771
Expenses
$459,189
Assets
$1,773
Liabilities
$629

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

Leadership & pay

11 people listed

People named in this filing

  • Laura Bethea-Lewis (Chair)
  • Dr Deborah Royals Mizerk (Member)
  • Tori Darensburg (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To promote, preserve and celebrate African American cultural and heritage through artistic expression and education culminating in a cultural festival held in downtown Raleigh, see schdule O for more info.

What it reported doing in 2024

Organized, planned and executed a two day free cultural festival in Raleigh, NC attended by approximately fifty thousand people. The purpose is to create, educate and provide a sense of pride, empowerment and community among attendees. The event encourages community involvement and volunteerism engaging over two-hundered volunteers working in partnership with the staff and event organizers. Programming includes cultural arts performances, dance, storytelling, drama and spoken word.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.1%; rating input score 88
  • Program expense ratio: 80%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -10.2%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 10.1% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 8.9% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 88.1% of revenue deployed · 80% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $367K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 22/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.