Carmel International Arts Festival Inc

Nonprofit profile at a glance

EIN
475216474
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2015
Location
Carmel, IN, USA
Phone
3172033435
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$180,890
Expenses
$174,902
Assets
$149,818
Liabilities
$65

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

Leadership & pay

9 people listed

Executive titles in this filing

  • Josh Carr (President)
  • Gretchen Randlett (Vice President)

Highest reported compensation

  • Meg Gates Osborne (Exective Director): $25,000 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 Carmel International Arts Festival mission is Educating the Community Through the Arts.

What it reported doing in 2024

In 2024 we held the Carmel International Arts Festival on September 28th & 29th. 130 artists were accepted and display their art. Twelve not-for-profit organizations were provided space to share their stories and mission with the festival visitors. The festival provided food and entertainment for artists, not-for-profits, and festival visitors, for both days, The festival attracted approximately 22,000 visitors over the weekend. The festival extended the main stage entertainment into the evening on Saturday, a presentation called Art Rocks, bringing music to the music stage for a family friendly event from 7:30 to 10:00 pm. Nine art achievement scholarships were awarded for talented high school art students, namely: one $2,500 Rosemary Waters Honorary scholarship, four $1,500 Best of Show scholarships and four $1,500 Innovation in The Arts scholarships.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 88% 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 available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 40
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.5%; rating input score 68
  • Program expense ratio: 70.8%; rating input score 71
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 80th 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.3%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.86; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -2.7% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: 9.9% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 6.1% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 68.5% of revenue deployed · 70.8% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $124K in reported program spending
  • Leadership: top reported pay $25K · 9 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.