Charter Oak Temple Restoration Assoc D/b/a Charter Oak Cultural Center
Nonprofit profile at a glance
- EIN
- 061026597
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Hartford, CT, USA
- Phone
- 8603102580
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Historical Societies, Related Historical Activities
Reported finances
- Revenue
- $1,246,906
- Expenses
- $1,254,755
- Assets
- $3,605,871
- Liabilities
- $157,602
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- DONNA BERMAN (EXECUTIVE DIRECTOR)
Highest reported compensation
- DONNA BERMAN (EXECUTIVE DIRECTOR): $110,480 total reported compensation
- LAURIE LEADER (MANAGING DIRECTOR): $74,523 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Charter oak cultural center, a beautiful historic landmark and vibrant arts center, doing the work of social justice through the arts.
What it reported doing in 2024
Social justice programming - our beat of the street (bots) programming is designed to raise awareness about the issue of homelessness and to make real and lasting changes in the lives of those experiencing homelessness. Through our beat of the street newspaper, we hire individuals from the homeless community to deliver the paper and compensate those who contribute content to the paper. Our bots learning center for creative learning provides a completely free education for those experiencing homelessness. We provide three semesters a year, offering mostly arts-based classes. Graduates are eligible for a tuition-free four-year degree from goodwin university. Through our eats of the street program, we place large pots of organic vegetable plants throughout the city of hartford. We hire members of the homeless community to tend the pots, which are painted by local artists. The vegetables are available for free to anyone in need, addressing hunger in our city. Eats of the street brings food, jobs and art to hartford. We have also established the ada maria isasi-diaz justice institute to address challenges specific to latinx women.
Operating model
- Revenue model
- Donor-supported. 84% 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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 65
- Transparency & Controls: 92
- Accountability: 91
- Sustainability: 47
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 66.8%; rating input score 67
- Program expense ratio: 65.4%; rating input score 65
- Fundraising efficiency: $20.07 raised per $1 spent on fundraising; rating input score 59; 59th percentile among comparable filings
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: 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: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -0.6%; rating input score 34; 34th percentile among comparable filings
- Total-asset coverage ratio: 2.87; rating input score 74; 74th percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 54; 54th percentile among comparable filings
- Officer compensation ratio: 14.7%; rating input score 23; 23rd percentile among comparable filings
Growth
- Program expense growth: 9.7% per year; rating input score 100; 62nd percentile among comparable filings
- Revenue growth: 3.8% per year; rating input score 100; 36th percentile among comparable filings
- Asset growth: 10% per year; rating input score 100; 59th percentile among comparable filings
Details
- Where the money goes: 66.8% of revenue deployed · 65.4% of spending went to programs
- Governance: 9 of 9 board members independent · 7 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $821K in reported program spending
- Leadership: top reported pay $110K · 11 people listed
- Consistency: 27 of 27 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 10 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- Review — Financial Efficiency: Fundraising efficiency scored 59/100.
- Moderate — Sustainability: Operating margin scored 34/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Officer compensation ratio scored 23/100.
- Review — Sustainability: Liabilities to assets ratio scored 54/100.