Business Consortium for Arts Support

Nonprofit profile at a glance

EIN
541437382
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Norfolk, VA, USA
Phone
7573836047
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$760,546
Expenses
$758,450
Assets
$89,674
Liabilities
$0

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

Leadership & pay

15 people listed

Executive titles in this filing

  • LISA D WIGGINTON (VICE PRESIDENT/EXECUTIVE D)
  • WALKER PHILLIPS (PRESIDENT)

Highest reported compensation

  • LISA D WIGGINTON (VICE PRESIDENT/EXECUTIVE D): $77,691 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 strengthen major business and foundation support for arts and cultural organizations of south hampton roads.

What it reported doing in 2024

Grants to charitable organizations which support the arts or provide cultural experiences to the community.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 86
  • Accountability: 90
  • Sustainability: 34
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89%; rating input score 89
  • Program expense ratio: 89.3%; rating input score 89
  • Fundraising efficiency: $18.85 raised per $1 spent on fundraising; rating input score 57; 57th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 88.6%; rating input score 89; 38th 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: 6 of 8 controls in place; rating input score 75
    • 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: Pass

Sustainability

  • Operating margin: 0.3%; rating input score 37; 37th percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 10.2%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: -0.6% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: -7.9% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 89% of revenue deployed · 89.3% of spending went to programs
  • Governance: 15 of 15 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $677K in reported program spending
  • Leadership: top reported pay $78K · 15 people listed
  • Consistency: 24 of 26 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 17 filed money-flow records
  • Related organizations: 17 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: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 57/100.
  • Moderate — Sustainability: Operating margin scored 37/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • 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.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.