Creative Waco

Nonprofit profile at a glance

EIN
473755745
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2015
Location
Waco, TX, USA
Phone
2542147640
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$1,198,054
Expenses
$1,125,613
Assets
$925,446
Liabilities
$25,157

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

Leadership & pay

10 people listed

Executive titles in this filing

  • FIONA BOND (EXECUTIVE DIRECTOR)

Highest reported compensation

  • FIONA BOND (EXECUTIVE DIRECTOR): $117,250 total reported compensation

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

Overview

Mission

Creative waco's mission is to grow and support a thriving cultural and creative community in waco and mclennan county, Texas.

What it reported doing in 2024

Operating as the local arts agency for waco and mclennan county by managing and evaluating strategic investment in non-profit arts organizations, public art, and infrastructure to advance the goals of the waco cultural plan.beneficiaries: whole community of waco and mclennan county

Operating model

Revenue model
Grant-funded. 75% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 68% for direct work, and 32% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 89
  • Accountability: 100
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.7%; rating input score 77
  • Program expense ratio: 81.1%; rating input score 81
  • Fundraising efficiency: $13.74 raised per $1 spent on fundraising; rating input score 48; 48th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.9%; rating input score 99; 48th 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; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.82; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 10.4%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 13.9% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 14.9% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 16.2% per year; rating input score 100; 75th percentile among comparable filings

Details

  • Where the money goes: 76.7% of revenue deployed · 81.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $913K in reported program spending
  • Leadership: top reported pay $117K · 10 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 6 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.

Key Signals

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

  • Moderate — Financial Efficiency: Fundraising efficiency scored 48/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.