Business for the Arts of Broward Inc
Nonprofit profile at a glance
- EIN
- 650151424
- IRS 990 coverage
- 2013–2024
- Forms available
- Form 990 2024, Form 990-EZ 2020
- Location
- Fort Lauderdale, FL, USA
- Phone
- 9549404933
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $650,846
- Expenses
- $629,721
- Assets
- $274,263
- Liabilities
- $24,566
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
26 people listed
Executive titles in this filing
- ROBYN VEGAS (EXECUTIVE DIRECTOR)
Highest reported compensation
- ROBYN VEGAS (EXECUTIVE DIRECTOR): $63,167 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Support of the arts & cultural affairs in broward county by holding recognition events & workshops for artists.
What it reported doing in 2024
Arts & stroll: engages business & business leaders to advocate & educate about the importance of the county's art & cultural community as well as to recognize the connection between cultural vitality, creative success, & economic development.
Operating model
- Revenue model
- Earned-program. 77% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 83% 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 - 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: 71
- Transparency & Controls: 94
- Accountability: 63
- Sustainability: 37
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.8%; rating input score 79
- Program expense ratio: 81.5%; rating input score 81
- Fundraising efficiency: Limited
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: 100%; rating input score 100; 76th 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: 1 of 8 controls in place; rating input score 12
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 3.2%; rating input score 45; 45th percentile among comparable filings
- Total-asset coverage ratio: 0.44; rating input score 20; 20th percentile among comparable filings
- Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
- Officer compensation ratio: 10%; rating input score 37; 37th percentile among comparable filings
Growth
- Program expense growth: 10.8% per year; rating input score 100; 65th percentile among comparable filings
- Revenue growth: 17.2% per year; rating input score 100; 82nd percentile among comparable filings
- Asset growth: 11% per year; rating input score 100; 62nd percentile among comparable filings
Details
- Where the money goes: 78.8% of revenue deployed · 81.5% of spending went to programs
- Governance: 25 of 25 board members independent · 1 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $513K in reported program spending
- Leadership: top reported pay $63K · 26 people listed
- Consistency: 19 of 19 current checks pass
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 5 filing years from 2013 to 2024
- Contacts: How to reach this organization
- Money network: 6 filed money-flow records
- Related organizations: 4 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.
- High — Accountability: Governance controls: 6 of 7 not reported.
- Moderate — Sustainability: Operating margin scored 45/100.
- High — Sustainability: Total-asset coverage ratio scored 20/100.
- Moderate — Sustainability: Officer compensation ratio scored 37/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 44/100.