Cabarrus Arts Council

Nonprofit profile at a glance

EIN
561317473
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Concord, NC, USA
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$826,849
Expenses
$908,714
Assets
$666,492
Liabilities
$0

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

Leadership & pay

27 people listed

Highest reported compensation

  • Liz Fitzgerald (Executive Dir.): $113,972 total reported compensation

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

Overview

Mission

The mission of Cabarrus Arts Council is to present, promote and inspire creativity in our community.

What it reported doing in 2024

Promoting arts and local artists in the community by maintaining galleries and a theater and sponsoring community programs. This also includes program support for school programs noted below. We attracted 39,425 recorded visitors through 5 Gallery exhibitions which showcased regional and national artists working in a variety of media and special virtual events such as artist talks, and family crafts and 14 Davis Theater performances, plus Family Shows and Art Walk on Union events featuring 70-100 artist vendors.Grants to area visual, theatre and other arts groups to support arts in the community. Includes grants to sponsor various arts projects in the community. The Cabarrus Arts Council, Inc promotes programs for these organizations on our website, social media and in news articles. Grants were distributed to 18 organizations. The arts council provides in person live performances in each Cabarrus County and Kannapolis City school, serving 40,339 students in FY25.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 72% for direct work, and 28% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing does not identify recipients for some grant dollars and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 71
  • Accountability: 90
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.3%; rating input score 74
  • Program expense ratio: 67.3%; rating input score 67
  • Fundraising efficiency: $6.71 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 41.8%; rating input score 42; 28th 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: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -9.9%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 0.73; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 12.5%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 74.3% of revenue deployed · 67.3% of spending went to programs
  • Governance: 25 of 25 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $612K in reported program spending
  • Leadership: top reported pay $114K · 27 people listed
  • Consistency: 20 of 22 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2009 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.

  • Moderate — Transparency & Controls: Grant itemization coverage scored 42/100.
  • High — Financial Efficiency: Fundraising efficiency scored 25/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 17/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • 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: Officer compensation ratio scored 29/100.