Cincinnati Institute of Fine Arts

Nonprofit profile at a glance

EIN
310537138
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Cincinnati, OH, USA
Phone
5138712787
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$13,990,202
Expenses
$15,578,898
Assets
$145,595,001
Liabilities
$63,020,138

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

Leadership & pay

56 people listed

Executive titles in this filing

  • Alecia Kintner (President & CEO)

Highest reported compensation

  • Alecia Kintner (President & CEO): $345,568 total reported compensation
  • Kathryn Kennedy (Chief Operating Officer): $198,787 total reported compensation
  • Lisa Wolter (VP, Comm. Campaign): $161,537 total reported compensation

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

Overview

Mission

With funding, services and advocacy, ArtsWave fuels a more vibrant economy and connected community through the arts.

What it reported doing in 2024

Grantmaking: Management of annual community campaign for the arts to provide the resources used to make distributions of financial grants to organizations throughout the Greater Cincinnati Region. These grants help them create a vital arts scene and all the communitywide benefits that come with it, including economic vitality and a greater sense of connectedness for the people of the region. Distributions support a wide variety of arts and culture groups that reflect and benefit the community in all its diversity.

Operating model

Revenue model
Donor-supported. 90% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 83% of its reported program spending out as grants.
  • 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. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 74
  • Accountability: 95
  • Sustainability: 38
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.2%; rating input score 93
  • Program expense ratio: 79.4%; rating input score 79
  • Fundraising efficiency: $6.87 raised per $1 spent on fundraising; rating input score 28; 28th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 97.9%; rating input score 98; 29th 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; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.4%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 9.35; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.43; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 8.2%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: -1.5% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -5.5% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 17th percentile among comparable filings

Details

  • Where the money goes: 93.2% of revenue deployed · 79.4% of spending went to programs
  • Governance: 49 of 49 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $12.4M in reported program spending
  • Leadership: top reported pay $346K · 56 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $1.2M reported
  • Consistency: 39 of 40 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 98 filed money-flow records
  • Related organizations: 91 filed related-organization links
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 28/100.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.