Broome County Arts Council

Nonprofit profile at a glance

EIN
161279751
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Binghamton, NY, USA
Phone
6077234620
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Council/Agency

Reported finances

Revenue
$570,538
Expenses
$657,031
Assets
$357,243
Liabilities
$184,028

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

Leadership & pay

9 people listed

Executive titles in this filing

  • NICK CORTESE (PRESIDENT)
  • DAVID MIXTER (VICE PRESIDENT)
  • JENNY CHANG (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JENNY CHANG (EXECUTIVE DIRECTOR): $64,950 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 promote a thriving arts community, essential to the quality of life in broome county ny and advance the awareness and value of the arts through advocacy, fundraising, grant making, services, and programs.

What it reported doing in 2024

Conducts fund raising campaign and administers grants under contracts.

Operating model

Revenue model
Donor-supported. 75% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 45% for direct work, and 55% for grants.

The verdict

SUPPORTED - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 84
  • Accountability: 84
  • Sustainability: 19
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.7%; rating input score 71
  • Program expense ratio: 61.4%; rating input score 61
  • Fundraising efficiency: $292.05 raised per $1 spent on fundraising; rating input score 94; 94th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 93.5%; rating input score 94; 41st 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -15.2%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 9.9%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 8.6% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 70.7% of revenue deployed · 61.4% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $403K in reported program spending
  • Leadership: top reported pay $65K · 9 people listed
  • Consistency: 26 of 28 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • Related organizations: 8 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.