Core Art Space
Nonprofit profile at a glance
- EIN
- 840889737
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024
- Location
- Lakewood, CO, USA
- Phone
- 3032978428
- Rating
- 37
- Verdict
- REVIEW
- Rating confidence
- Moderate
- Sector
- Art Museums
Reported finances
- Revenue
- $41,446
- Expenses
- $43,158
- Assets
- $27,463
- Liabilities
- $3,726
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
17 people listed
People named in this filing
- BARBARA VEATCH (Annex rental director)
- CHUCK MCCOY (Memberpublicity)
- KATHY MITCHELL-GARTON (Secretary)
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
To provide a venue for local artists to display their art work to the community free of charge. The gallery has member show and open shows. A community open show is held once a year.
What it reported doing in 2024
Co-op art gallery on a 3 week show schedule. Free to public. Gallery has member shows as well as open entry shows. Open entry shows are open to local and national artists.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
REVIEW - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 100
- Accountability: 12
- Sustainability: 38
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
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: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -4.1%; rating input score 50; 50th percentile among comparable filings
- Total-asset coverage ratio: 0.64; rating input score 19; 19th percentile among comparable filings
- Liabilities to assets ratio: 0.14; rating input score 17; 17th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings
Growth
- Program expense growth: -46.5% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: 1.8% per year; rating input score 100; 67th percentile among comparable filings
- Asset growth: 5.4% per year; rating input score 100; 67th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 0 of 17 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $43K in reported program spending
- Leadership: top reported pay $0 · 17 people listed
- Consistency: 11 of 12 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 5 filing years from 2020 to 2024
- 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 4 of 6 not reported.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- High — Growth: Program expense growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 19/100.
- Review — Sustainability: Operating margin scored 50/100.
- High — Sustainability: Liabilities to assets ratio scored 17/100.