Arts Business Collaborative
Nonprofit profile at a glance
- EIN
- 832173068
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024, Form 990-EZ 2019, Form 990-N 2018
- Location
- Long Is City, NY, USA
- Phone
- 7813756968
- Rating
- 52
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Nonprofit Management
Reported finances
- Revenue
- $321,078
- Expenses
- $736,783
- Assets
- $174,877
- Liabilities
- $303,740
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- KAT BLOOMFIELD (CEO- BOARD SECRETARY)
Highest reported compensation
- KAT BLOOMFIELD (CEO- BOARD SECRETARY): $204,895 total reported compensation
- JOSHUA BEAUCHEMIN (CFO): $159,595 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Arts business collaborative inc is a technical assistance and research organization with a mission to improve quality of life for people of color through the arts and stem science technology engineering and mathematics. These services focus on the underlying factors that impede their creative and professional endeavors: access to capital networks and training. Abc aims to systemically improve the quality of life in communities of color through two main services: the grassroots action project and the rising tides research institute. The organization is supported primarily through contributions from the public and private grants.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 93% 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
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 38
- Transparency & Controls: 66
- Accountability: 82
- Sustainability: 5
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 53.2%; rating input score 53
- Program expense ratio: 23.2%; rating input score 23
- Fundraising efficiency: $2.44 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings
Transparency & Controls
- Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- 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: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- 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: -129.5%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 0.24; rating input score 13; 13th percentile among comparable filings
- Liabilities to assets ratio: 1.74; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 49.5%; rating input score 4; 4th percentile among comparable filings
Growth
- Program expense growth: -22.1% per year; rating input score 0; 5th percentile among comparable filings
- Revenue growth: -24.3% per year; rating input score 0; 2nd percentile among comparable filings
- Asset growth: -28.5% per year; rating input score 0; 2nd percentile among comparable filings
Details
- Where the money goes: 53.2% of revenue deployed · 23.2% of spending went to programs
- Governance: 2 of 2 board members independent · 5 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $171K in reported program spending
- Leadership: top reported pay $205K · 4 people listed · 1 of 6 pay-setting controls reported
- Consistency: 42 of 42 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 4 filing years from 2020 to 2024
- Contacts: How to reach this organization
- Money network: 3 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.
- Review — Financial Efficiency: Mission deployment rate scored 53/100.
- High — Financial Efficiency: Program expense ratio scored 23/100.
- High — Financial Efficiency: Fundraising efficiency scored 11/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- High — Sustainability: Operating margin scored 1/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 13/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 2/100.
- High — Sustainability: Officer compensation ratio scored 4/100.