Eastland Fine Arts Association

Nonprofit profile at a glance

EIN
752179231
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Eastland, TX, USA
Phone
2546292201
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Film, Video

Reported finances

Revenue
$277,293
Expenses
$256,683
Assets
$501,998
Liabilities
$72,109

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

Leadership & pay

10 people listed

Executive titles in this filing

  • ROB KING (Vice President)
  • ANN FOLSOM (President)

Highest reported compensation

  • COOPER HAYES (COO): $35,000 total reported compensation

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

Overview

Mission

To support the community of eastland in education and appreciation of fine arts.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 82
  • Accountability: 62
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th 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: 88.9%; rating input score 89; 24th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.4%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.96; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 13.6%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 1.8% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 8 of 9 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $257K in reported program spending
  • Leadership: top reported pay $35K · 10 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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: Governance controls: 5 of 7 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 55/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.