Arts Council Endowment Fund Inc

Nonprofit profile at a glance

EIN
262596119
IRS 990 coverage
2018–2022
Forms available
Form 990 2022, Form 990-N 2010
Location
Winstonsalem, NC, USA
Phone
3367471415
Rating confidence
Limited
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$0
Expenses
$2,226
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

29 people listed

Executive titles in this filing

  • CHASE LAW (PRESIDENT &)

People named in this filing

  • DR LYNN ANTHONY (DIRECTOR)
  • TODD BANKHEAD (DIRECTOR)
  • IRIS COLE (DIRECTOR)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

It is the primary responsibility of the endowment fund to manage the investment of these funds and additional funds as they become available, and to respond to reasonable and appropriate requests from the arts council or designated funded partners. A secondary goal of the endowment fund is to encourage additional gifts to the endowment fund for the benefit of the arts. The type and maturity of investments made by the endowment fund or its managers are the sole responsibility of the endowment fund's board of directors.

What it reported doing in 2022

To raise, hold, and disburse endowment funds for arts council, inc. And designated funded partners.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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: 75
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -1% per year; rating input score 0; 51st percentile among comparable filings
  • Revenue growth: -56.4% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: -40.9% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of spending went to programs
  • Governance: 28 of 28 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2K in reported program spending
  • Leadership: top reported pay $0 · 29 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 5 filing years from 2018 to 2022
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.