Bakehouse Art Complex Inc

Nonprofit profile at a glance

EIN
592104864
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Miami, FL, USA
Phone
3055762828
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Visual Arts Organizations

Official website

Reported finances

Revenue
$1,796,021
Expenses
$1,437,115
Assets
$3,057,566
Liabilities
$270,641

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

Leadership & pay

19 people listed

Highest reported compensation

  • CATHY LEFF (EXECUTIVE DI): $233,333 total reported compensation

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

Overview

Mission

To provide affordable work spaces, exhibition and professional development opportunities to working artists, and serve as a venue for cultural and educational programming in miami's historic art deco bakery.

What it reported doing in 2024

Provided affordable and subsidized studios, infrastructure, and professional and creative development opportunities for 100 miami based artist. Provided free cultural programs, onsite, off site, and online, which included a range of exhibitions and educational programming to artists and members of the general public. Approximately 50,000 people benefited and or participated in on and offsite site offerings: exhibitions; cultural programs and conversations; studio visits; community partnerships, community educational programs.

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

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 fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 70
  • Accountability: 95
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 50.7%; rating input score 51
  • Program expense ratio: 63.3%; rating input score 63
  • Fundraising efficiency: $12.54 raised per $1 spent on fundraising; rating input score 45; 45th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 20%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 2.13; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 16.2%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 8.6% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 11.6% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 9.7% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 50.7% of revenue deployed · 63.3% of spending went to programs
  • Governance: 18 of 18 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $910K in reported program spending
  • Leadership: top reported pay $233K · 19 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 51/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 45/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.