Arts Nest

Nonprofit profile at a glance

EIN
471496714
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Minneapolis, MN, USA
Phone
6123772285
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Education

Official website

Reported finances

Revenue
$208,674
Expenses
$213,845
Assets
$214,652
Liabilities
$116

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

Leadership & pay

6 people listed

Highest reported compensation

  • JENNA PAPKE (EXECUTIVE DI): $33,815 total reported compensation
  • ERIC COHEN (BOARD CHAIR): $32,725 total reported compensation
  • JENNY MOELLER (TREASURER): $2,000 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 nest exists to nurture and support emerging artists and arts professionals through creating access and opportunities for learning, connections, and visibility.

What it reported doing in 2024

The phoenix hosts approximately 40 productions annually, produced by emerging groups and individuals looking to hone professional skills, experiment with their craft, and support the minneapolis community. We provide extra support to bipoc producers emerging in the field. Production space is provided along with all services needed for a successful production if desired, such as technical training, ticketing support, concessions, access to equipment, and marketing assistance. By doing this, arts nest supports and develops local theater and arts productions from both a financial and technical standpoint.

Operating model

Revenue model
Earned-program. 61% of the money available for current operations came from fees and other program revenue.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 92
  • Accountability: 55
  • Sustainability: 35
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.8%; rating input score 87
  • Program expense ratio: 82.2%; rating input score 82
  • Fundraising efficiency: $17.54 raised per $1 spent on fundraising; rating input score 54; 54th 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: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.5%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 1; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 32.8%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: -2.5% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: 0.2% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 86.8% of revenue deployed · 82.2% of spending went to programs
  • Governance: 4 of 6 board members independent · 3 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $176K in reported program spending
  • Leadership: top reported pay $34K · 6 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 2 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 54/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.