Carousel of Smiles Ltd
Nonprofit profile at a glance
- EIN
- 814728058
- IRS 990-EZ coverage
- 2019–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2018
- Location
- Sandpoint, ID, USA
- Phone
- 2086995778
- Rating
- 90
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Historical Societies, Related Historical Activities
Reported finances
- Revenue
- $127,588
- Expenses
- $99,656
- Assets
- $97,010
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- LOREENA A HUTCHISON (PRESIDENT)
People named in this filing
- LOREENA A HUTCHISON (PRESIDENT)
- ROBERT HUTCHISON (SECRETARY/TR)
- JAN GRIFFITTS (VICE PRESIDE)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Through the restoration, revitalization, and operation of a vintage golden age 1920 allan herschell carousel, the carousel of smiles project seeks to: "educate, and foster interest in and appreciation of , the early 20th century carousel arts in context to the industrial age and their historical roots; and to uncover and extoll the history, stories and lives of personas associated with carousels and the venues they operated within. "align with selected not for profit organizations, and by utilizing the draw and intrinsic excitement of carousels, assist in the aid and support of those missions. "exemplify the positivity and synergy when profit/not for profit entities, community, and government coalesce together for common objectives: engaging the community promoting local business and tourism, and providing sandpoint and its visitors with a unique opportunity to enjoy the simple pleasure of having fun. "renew the carousel's original mission to create memories and bring smiles to kids yo
What it reported doing in 2024
Restoration work progressed well during the year, and we are on track/schedule for substantial completion (85%+/-) of the restoration is expected by mid fall of 2024. The decision to reassemble the carousel at the fairgrounds was made in february. The desire was to re-energize the community for this project, advance fundraising efforts, and show off the restoration work of our volunteers. Fundraising momentum regained hoed for levels, with individual donations and pony adoptions back on expected track for the completion of the restoration. As the city beach park location is no longer viable, attention has turned to a suitable private location, just outside of the primary downtown core of sandpoint in the "granary/warehouse district". A lease and an option to purchase was obtained to this unique property, that with some renovation will be suitable for the carousel and its anticipated ancillary activities. The painting studio and the completed ponies were moved into the new location with a public "pony parde" event. The advantage of the new site is the ability to host mini events and keep the studio open for public visitations.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Assets have declined or grown slowly and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 100
- Sustainability: 60
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.1%; rating input score 78
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 21.9%; rating input score 76; 76th percentile among comparable filings
- Total-asset coverage ratio: 0.97; rating input score 58; 58th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 13.4% per year; rating input score 100; 68th percentile among comparable filings
- Revenue growth: 5% per year; rating input score 100; 47th percentile among comparable filings
- Asset growth: -1.4% per year; rating input score 0; 23rd percentile among comparable filings
Details
- Where the money goes: 78.1% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $100K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 3 filed schedules
- Filing history: 5 filing years from 2019 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.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Total-asset coverage ratio scored 58/100.