Artbeat Inc

Nonprofit profile at a glance

EIN
943097468
IRS 990 coverage
2010–2015
Forms available
Form 990 2015
Location
Visalia, CA, USA
Phone
4254445052
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Organizations

Reported finances

Revenue
$1,784,659
Expenses
$2,484,940
Assets
$-23,960
Liabilities
$200,091

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • DAVID SHAW (PRESIDENT)

Highest reported compensation

  • DAVID SHAW (PRESIDENT): $86,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To present the finest cultural entertainment in the United States with an eye to bringing the arts to underserved communities , such as senior citizens, minorities and geographically remote cities that dont have the means or knowledge to bring quality events to their communites.

What it reported doing in 2015

Artbeat presented serveral smaller shows, the Russian Grand Ballet, Mariachi Sol De Mexico, Second Dity, Slugger OTolle, Count Bassie Orchestra and Under the Street Lamp at the Fox Theatre in Visalia CA. Next to the Tulare Symphony, Artbeat became the most active user of the Visalia Fox Theatre and these small home town shows turn out to be the only profitable shows for the 2015 Fiscal Year.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 82
  • Accountability: 84
  • Sustainability: 9
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 6th 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: 90.9%; rating input score 91; 22nd 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: -39.2%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: -0.01; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 3.5%; rating input score 62; 62nd percentile among comparable filings

Growth

  • Program expense growth: -17.4% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99% of spending went to programs
  • Governance: 10 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $86K · 8 people listed
  • Consistency: 21 of 24 current checks pass · 3 findings to review
  • Schedules: 5 filed schedules
  • Filing history: 6 filing years from 2010 to 2015
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PayrollTaxes column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.