Bas Fisher Invitational

Nonprofit profile at a glance

EIN
473336677
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Miami, FL, USA
Phone
7868777280
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Education

Official website

Reported finances

Revenue
$271,264
Expenses
$148,489
Assets
$189,284
Liabilities
$2,029

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

Leadership & pay

5 people listed

Highest reported compensation

  • NAOMI FISHER (DIRECTOR & P): $50,000 total reported compensation
  • DANIELLE BENDER (BOARD MEMBER): $252 total reported compensation

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

Overview

Mission

Bfi is an artist-run space dedicated to creativity experimentation and discourse in contemporary art fostering community by offering support for artist projects and creating a bridge between miami and the international art world.

What it reported doing in 2024

Heat exchange - "heat exchange: art & infrastructure from the tropics to the arctic" is a reciprocal residency program creating annual residencies in miami & norway for artists to explore, compare and contrast infrastructure in their respective regions as they look at environmental issues, the economy, artist's labor, indigeneity, spiritual practices, and other pressing issues. Miami artists share research through panel discussions, educational initiatves, site-specific projects that stem from the artists' residency experiences.

Operating model

Revenue model
Donor-supported. 60% of the money available for current operations came from contributions and gifts.
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 a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 63
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.8%; rating input score 49
  • Program expense ratio: 89.1%; rating input score 89
  • Fundraising efficiency: $180.78 raised per $1 spent on fundraising; rating input score 91; 91st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 45.3%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 1.27; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 33.8%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: -2.1% per year; rating input score 0; 23rd percentile among comparable filings
  • Revenue growth: 3.3% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 48.8% of revenue deployed · 89.1% of spending went to programs
  • Governance: 5 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $132K in reported program spending
  • Leadership: top reported pay $50K · 5 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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 49/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.