Arts & Science Council Charlotte/mecklenburg Inc

Nonprofit profile at a glance

EIN
560693436
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Charlotte, NC, USA
Phone
7043332272
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Visual Arts Organizations

Official website

Reported finances

Revenue
$539,835
Expenses
$1,079,475
Assets
$0
Liabilities
$0

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

Leadership & pay

18 people listed

Executive titles in this filing

  • KRISTA TERRELL (PRESIDENT (THRU 1/24))
  • ADAM SANTALLA PIERCE (INTERIM PRESIDENT (AS OF 6/24))

Highest reported compensation

  • ADAM SANTALLA PIERCE (INTERIM PRESIDENT (AS OF 6/24)): $77,013 total reported compensation
  • KRISTA TERRELL (PRESIDENT (THRU 1/24)): $7,205 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The arts & science council (asc) is the community's chief advocate for arts, science, history and heritage, a gatherer and steward of public and private community resources, an investor of those resources in the cultural sector and community, the strategic planner for the community's cultural sector, and the public art agent for the city of charlotte and mecklenburg county. The mission of the organization is investing in people, programs and ideas that move us toward a more equitable, sustainable and innovative create ecosytem. The vision is an equitable, connected community where creativity is central, celebrated and supported.

What it reported doing in 2024

Asc's artist support grants fund professional and artistic development for emerging and established artists to enhance their skills and abilities to create new work or improve their business operations and capacity to bring their work to new audiences

Operating model

Revenue model
Grant-funded. 79% of the money available for current operations came from government grants.
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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 87
  • Accountability: 100
  • Sustainability: 6
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 65.3%; rating input score 65
  • Fundraising efficiency: $2.25 raised per $1 spent on fundraising; rating input score 6; 6th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 24th 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: 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: -100%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 7.8%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: -7.6% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -5.5% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -3.8% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 65.3% of spending went to programs
  • Governance: 16 of 16 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $705K in reported program spending
  • Leadership: top reported pay $77K · 18 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Fundraising efficiency scored 6/100.
  • 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 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.