Associated Artists of Southport

Nonprofit profile at a glance

EIN
581683296
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Southport, NC, USA
Phone
9104575450
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts Education

Official website

Reported finances

Revenue
$211,664
Expenses
$208,664
Assets
$173,403
Liabilities
$8,130

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

Leadership & pay

4 people listed

Executive titles in this filing

  • ROBERT SALEMEE (PRESIDENT)

People named in this filing

  • MARY BETH JOHNSON (TREASURER)
  • RICHARD O'DONNELL (VICE-PRESIDE)
  • ROBERT SALEMEE (PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Education and promotion of the arts. Painting and pottery art workshops are offered to the community throughout the year. Professional instructors and judges are used for teaching the workshops and judging the shows.

What it reported doing in 2024

Building use-the organization maintains thebuilding. It's utilized by various organizations within the community. Workshops and shows are held there and it is used to display works of art that attract visitors to the local area.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - 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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 82
  • Accountability: 64
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.6%; rating input score 99
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.4%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.83; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 23.8% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 11.5% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 98.6% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 4 board members independent · 1 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $209K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Transparency & Controls: Independent members within voting members did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.