Downtown Art Co

Nonprofit profile at a glance

EIN
133465285
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
9175876889
Rating
74
Verdict
SUPPORTED
Rating confidence
Standard

Official website

Reported finances

Revenue
$44,068
Expenses
$45,404
Assets
$5,685,622
Liabilities
$2,125,000

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Michael Hickey (President)

People named in this filing

  • Ryan Gilliam (Treasurer)
  • Michael Hickey (President)
  • Dakota Scott (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

Downtown Art provides space and support for cultural programs for communities in New York City and the general public.

What it reported doing in 2024

Host cultural and community programming by local organizations.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 100
  • Accountability: 24
  • Sustainability: 61
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.1%; rating input score 99
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: -3%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 125.22; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -3.5% per year; rating input score 0; 41st percentile among comparable filings
  • Revenue growth: -6.9% per year; rating input score 0; 38th percentile among comparable filings
  • Asset growth: 9.7% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.1% of spending went to programs
  • Governance: 0 of 3 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $45K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 41 of 42 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 4/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 51/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.