Arts Council of Midland

Nonprofit profile at a glance

EIN
751894442
IRS 990 coverage
2011–2023
Forms available
Form 990 2023, Form 990-EZ 2009
Location
Midland, TX, USA
Phone
4326871149
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Organizations

Official website

Reported finances

Revenue
$699,201
Expenses
$631,721
Assets
$1,047,799
Liabilities
$8,508

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • Danny Holeva (Executive director)
  • Stephanie Rivas (President)
  • Karl Rundgren (Immediate Past President)
  • Katie Grissam (President-Elect)

Highest reported compensation

  • Danny Holeva (Executive director): $113,575 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Enriching lives with the arts through community wide advocacy, education, outreach, and promotion.

What it reported doing in 2023

Celebration of the Arts - An annual three day visual and performing arts festival that brings together an array of art activities, performances, and displays to downtown Midland in a family oriented event. Visual arts are local, regional, and national artists who are juried in to participate in the festival. Performing artists, mostly local, have a stage and captive visitors to listen to or view their acts. Sponsors are treated to a premier party with food and beverages and get the first opportunity to see the visual artists work. Throughout the day on Saturday and Sunday, there are visual and performing artists, art activities that include take away projects for children, demonstrations, informal lectures, and several nonprofit organizations that highlight their organizations for visitors.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 77% for direct work, and 23% for grants.

The verdict

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

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.7%; rating input score 76
  • Program expense ratio: 83.3%; rating input score 83
  • Fundraising efficiency: $13.7 raised per $1 spent on fundraising; rating input score 48; 48th percentile among comparable filings

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: 100%; rating input score 100; 76th percentile among comparable filings
  • 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: 8 of 8 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.7%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 1.66; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 72; 72nd percentile among comparable filings
  • Officer compensation ratio: 18%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 15.3% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 75.7% of revenue deployed · 83.3% of spending went to programs
  • Governance: 15 of 15 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $526K in reported program spending
  • Leadership: top reported pay $114K · 16 people listed
  • Highest-paid contractors: 1 contractor listed · $244K reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2023
  • Contacts: How to reach this organization
  • Money network: 16 filed money-flow records
  • Related organizations: 14 filed related-organization links
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 48/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.