Connecticut Academy for the Arts Inc

Nonprofit profile at a glance

EIN
273460511
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2019
Location
Torrington, CT, USA
Phone
8602015706
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$141,439
Expenses
$98,028
Assets
$541,195
Liabilities
$334,890

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

Leadership & pay

3 people listed

People named in this filing

  • Teresa Graham Sullivan (Pres/Exec. Dir.)
  • John Henry Sullivan (VP/Treasurer)
  • Roger Newbury (Director)

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

Is to provide an environment for quality personalized learning that integrates arts and creativity throughout an age appropriate curriculum, to cultivate innovative, collaborative and global thinkers and to prepare them for a life of civic and global engagement, professional achievement and personal fulfillment through the arts.

What it reported doing in 2024

CAFTA Friday Film Forum: is an adult film studies group that meets weekly to study the great international filmmakers, directors, and actors in the world of cinema. In the 10 years CAFTA Friday Film Forum (FFF) has been in session, over 500 award winning films from all over the world have been seen and discussed. In the new CAFTA Cineteque Theater (at 100 Prospect Street in Torrington, CT), films are shown on a 30 foot screen in a very comfortable studio environment. A "Happy Hour" informal cultural networking takes place from 6 pm until showtime at 6:45 pm. Refreshments are served at that time. Everyone is asked to bring either a savory or desert to share. Promptly at 6:45 pm the movie begins. After the film, coffee and dessert are served and everyone joins in the discussion to evaluate the tectonics and themes of the film, filmmakers and/or director. The conversation is always lively, interesting and informative. Many say it is the highlight of their week.Film classes may be audited film by film. Fee is $5 per class. New students can register at the door when they arrive.

Operating model

Revenue model
Donor-supported. 83% 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 revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 92
  • Accountability: 58
  • Sustainability: 72
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.8%; rating input score 49
  • Program expense ratio: 70.4%; rating input score 70
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 0 of 7 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 30.7%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 5.52; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 20.5% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 24.9% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 48.8% of revenue deployed · 70.4% of spending went to programs
  • Governance: 4 of 4 board members independent · 0 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $69K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 49/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.