Alchemy Art Center

Nonprofit profile at a glance

EIN
824766421
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021, Form 990-N 2018
Location
Friday Harbor, WA, USA
Phone
3606228581
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Visual Arts Organizations

Official website

Reported finances

Revenue
$374,531
Expenses
$244,833
Assets
$346,143
Liabilities
$8,781

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

Leadership & pay

9 people listed

Highest reported compensation

  • MARIA MICHAELSON (CO-DIRECTOR): $20,955 total reported compensation
  • GLENN HENDRICK (CO-DIRECTOR): $19,022 total reported compensation

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

Overview

Mission

Alchemy art center's mission is to provide arts programming and creative community for people on rural san juan island. We believe that artists should have access to the tools, space, and collaborative support necessary for creating. Alchemy art center fulfills a vital role as a place where artists of all ages can work, and where the larger community can explore artistic expression.

What it reported doing in 2024

Artists in community: bringing access to the arts to the public. Over 3965 people were served. We offered activities for kids and adults in public spaces in collaboration with out community partners. We house 11 artists throughout the summer. Additionally we offered a free 10-week art and environmental stewardship program geared toward middle and high school aged kids.

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

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 63
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.6%; rating input score 58
  • Program expense ratio: 84.2%; rating input score 84
  • Fundraising efficiency: $14.53 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

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: 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: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 34.6%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 1.41; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 16.3%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 19.3% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 29.7% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 50.9% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 57.6% of revenue deployed · 84.2% of spending went to programs
  • Governance: 7 of 7 board members independent · 1 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $206K in reported program spending
  • Leadership: top reported pay $21K · 9 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 49/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.