Center for Initiatives in Art & Culture Inc

Nonprofit profile at a glance

EIN
205113687
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-N 2008
Location
New York, NY, USA
Phone
6464851952
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Visual Arts Organizations

Reported finances

Revenue
$218,910
Expenses
$183,650
Assets
$53,982
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • LISA KOENIGSBERG (PRESIDENT)

People named in this filing

  • LISA KOENIGSBERG (PRESIDENT)
  • DAVID L BECKER (SECRETARY)
  • CAROL SPERO (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Center for initiatives in art & culture, inc.(iac) provides educational services in the fine, decorative, and visual arts as well as architecture. Iac's primary activities are educational conferences and symposia, publications, and exhibitions. The services provided by iac are intended to advance and enhance knowledge within the targeted audiences regarding the arts & architecture, by adopting an interdisciplinary approach that investigates, among other issues, social history and material culture; the life and work of specific artists, architects and craftspeople working in a wide variety of media; fabrication methods, conservation techniques and the effect of technology; and connoisseurship. The larger objective is the preservation and protection of cultural resources & cultural patrimony.the educational services of iac will benefit the community by providing new and enhanced skills and knowledge to the target audiences.

What it reported doing in 2024

Arts & crafts

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

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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 85
  • Accountability: 70
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.4%; rating input score 65
  • Program expense ratio: 77.9%; rating input score 78
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 2 of 7 controls in place; rating input score 29
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.1%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 0.29; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 14.2% per year; rating input score 100; 76th percentile among comparable filings

Details

  • Where the money goes: 65.4% of revenue deployed · 77.9% of spending went to programs
  • Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $143K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 11 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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: 4 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.