Artsfund Foundation

Nonprofit profile at a glance

EIN
911866831
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2062819050
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$8,961,586
Expenses
$1,887,268
Assets
$45,898,044
Liabilities
$0

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

Leadership & pay

8 people listed

Executive titles in this filing

  • MICHAEL GREER (PRESIDENT)

Highest reported compensation

  • MICHAEL GREER (PRESIDENT): $372,700 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 artsfund foundation was created to support the activities of and for the benefit of artsfund, an organization described in code section 501(c)(3).

What it reported doing in 2024

Artsfund foundation provides management of endowment funds for artsfund, a separate IRS section 501(c)(3) organization. Artsfund provides operating grants to IRS section 501(c)(3) nonprofit arts organizations. Artsfund foundation paid $1,666,633 to artsfund during fiscal year ending september 30, 2025.

Operating model

Revenue model
Donor-supported. 83% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 95
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 39.9%; rating input score 40
  • Program expense ratio: 88.3%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 78.9%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 24.32; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 1.4%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 6% per year; rating input score 100; 45th percentile among comparable filings
  • Revenue growth: 13.2% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 8.2% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 39.9% of revenue deployed · 88.3% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.7M in reported program spending
  • Leadership: top reported pay $373K · 8 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $171K reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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: Mission deployment rate scored 40/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.