Ball & Socket Arts Inc
Nonprofit profile at a glance
- EIN
- 454079423
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024, Form 990-EZ 2013, Form 990-T 2024, Form 990-N 2012
- Location
- Cheshire, CT, USA
- Phone
- 9174144020
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts, Cultural Organizations - Multipurpose
Reported finances
- Revenue
- $3,172,794
- Expenses
- $696,685
- Assets
- $9,326,986
- Liabilities
- $3,225,529
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- ILONA SOMOGYI (PRESIDENT)
Highest reported compensation
- ILONA SOMOGYI (PRESIDENT): $47,209 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Ball & socket arts is transforming an abandoned industrial campus into an innovative and dynamic arts destination for the central Connecticut region (and beyond). Built on the ethos of sustainability and historic preservation, ball & socket arts offers vibrant arts & culture programming and provides accessible and relevant experiences to a broad public audience.
What it reported doing in 2024
The long-term vision for ball & socket is to transform the historic factory buildings and grounds into a welcoming hub for arts, culture, creative commerce, and community. Ball & socket arts will present curated exhibitions of contemporary visual artists with a focus on contemporary art in the workshop gallery, and once completed, inside building 1. Ball & socket arts presents a range of multidisciplinary arts, culture, and history programming. On-site spaces in building 1 will include: a grand exhibition hall; a flexible performance venue; an interactive history museum; an education wing; spaces for partnering arts organizations and creative commerce; and more. Our programming will include workshops, classes, and lectures for all ages, along with commissioned works of art for our exterior and interior spaces. We envision vibrant, accessible outdoor public spaces around our campus featuring art installations and spaces to gather. Our site features direct access to the farmington canal linear trail for easy pedestrian and cyclist access, as well as direct access to public transportation.
Operating model
- Revenue model
- Grant-funded. 88% 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
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 liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 38
- Transparency & Controls: 92
- Accountability: 100
- Sustainability: 82
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 15.4%; rating input score 15
- Program expense ratio: 66.4%; rating input score 66
- Fundraising efficiency: $31.4 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: 78%; rating input score 97; 97th percentile among comparable filings
- Total-asset coverage ratio: 13.39; rating input score 93; 93rd percentile among comparable filings
- Liabilities to assets ratio: 0.35; rating input score 31; 31st percentile among comparable filings
- Officer compensation ratio: 6.8%; rating input score 43; 43rd percentile among comparable filings
Growth
- Program expense growth: 35.6% per year; rating input score 100; 94th percentile among comparable filings
- Revenue growth: 30.1% per year; rating input score 100; 94th percentile among comparable filings
- Asset growth: 18.6% per year; rating input score 100; 81st percentile among comparable filings
Details
- Where the money goes: 15.4% of revenue deployed · 66.4% of spending went to programs
- Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $462K in reported program spending
- Leadership: top reported pay $47K · 12 people listed
- Consistency: 29 of 29 current checks pass
- Schedules: 6 filed schedules · includes major donors
- Filing history: 11 filing years from 2014 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.
- High — Financial Efficiency: Mission deployment rate scored 15/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 31/100.
- Moderate — Sustainability: Officer compensation ratio scored 43/100.