Cherry Arts

Nonprofit profile at a glance

EIN
742546811
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Denver, CO, USA
Phone
3033552787
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Visual Arts Organizations

Reported finances

Revenue
$4,392,345
Expenses
$3,152,589
Assets
$3,963,581
Liabilities
$303,548

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

Leadership & pay

16 people listed

Executive titles in this filing

  • TARA BRICKELL (EXEC DIRECTOR/CEO)

Highest reported compensation

  • TARA BRICKELL (EXEC DIRECTOR/CEO): $187,579 total reported compensation

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

Overview

Mission

CHERRY ARTS 501c3 non-profit mission is to provide access to art experiences and support arts education in Colorado

What it reported doing in 2024

Education and outreach programs are designed to be mobile, bringing art programs directly into schools and community centers. Educational initiatives are designed to nurture future generations of arts supporters and expose young minds to the many social and individual benefits of experiencing and creating art.

Operating model

Revenue model
Donor-supported. 62% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 70
  • Accountability: 95
  • Sustainability: 65
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.6%; rating input score 63
  • Program expense ratio: 79.6%; rating input score 80
  • Fundraising efficiency: $27.16 raised per $1 spent on fundraising; rating input score 67; 67th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 28.2%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 1.26; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 62.6% of revenue deployed · 79.6% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2.5M in reported program spending
  • Leadership: top reported pay $188K · 16 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $331K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.