Artsfund

Nonprofit profile at a glance

EIN
910839644
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2062819050
Rating
85
Verdict
STRONG
Rating confidence
Standard
Sector
Arts Council/Agency

Official website

Reported finances

Revenue
$16,081,911
Expenses
$15,343,046
Assets
$9,640,760
Liabilities
$1,973,957

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

Leadership & pay

33 people listed

Executive titles in this filing

  • MICHAEL R GREER (PRESIDENT/CEO)

Highest reported compensation

  • MICHAEL R GREER (PRESIDENT/CEO): $372,700 total reported compensation
  • KEITH G EASTER (DIRECTOR OF FINANCE): $158,942 total reported compensation

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

Overview

Mission

Artsfund strengthens the community by supporting the arts through leadership, advocacy, and grant making.

What it reported doing in 2024

Artsfund conducts a variety of programs to benefit the cultural sector: an associates program to equip volunteers with leadership and fundraising skills; board leadership training classes on legal and financial responsibilities, strategic planning, fundraising and best governance practices; convenings to share resources, practices and perspectives to expand the capacity of the cultural sector; study of the economic impact of the arts; and fiscal sponsor for building for the arts.

Operating model

Revenue model
Donor-supported. 86% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 93% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.3%; rating input score 82
  • Program expense ratio: 85.8%; rating input score 86
  • Fundraising efficiency: $24.2 raised per $1 spent on fundraising; rating input score 61; 61st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 88.3%; rating input score 88; 19th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.6%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 0.63; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.2; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 3.5%; rating input score 64; 64th percentile among comparable filings

Growth

  • Program expense growth: 14% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 11.2% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 82.3% of revenue deployed · 85.8% of spending went to programs
  • Governance: 30 of 30 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $13.2M in reported program spending
  • Leadership: top reported pay $373K · 33 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 436 filed money-flow records
  • Related organizations: 435 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.