Eta Creative Arts Foundation

Nonprofit profile at a glance

EIN
237157694
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
7737523955
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Reported finances

Revenue
$226,219
Expenses
$363,543
Assets
$5,038,263
Liabilities
$1,583,660

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

Leadership & pay

5 people listed

Executive titles in this filing

  • REQUEL GIBSON (BOARD PRESIDENT)
  • KENYA THOMAS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KENYA THOMAS (EXECUTIVE DIRECTOR): $73,317 total reported compensation

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

Overview

Mission

Eta creative arts foundation seeks to be a major cultural resource institution for the preservation, perpetuation and promulgation of the african american aesthetic in the city of chicago, the state of Illinois and the nation toward this end, eta creative arts foundation shall provide professional opportunities by way of training and performance for the development of both youth and adults as artists, opportunities for playwrights to hone and have their works produced, work for artists and technicians, sales for visual artists through the gallery and exposure for the general public to authentic valid projections of african american life styles, experiences and aspirations.

What it reported doing in 2024

Productions: eta creative arts foundation provides professional opportunities through performances and on the job training for the development of both youth and young adults as artist.

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 most voting board members are independent. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 33
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.4%; rating input score 72
  • Program expense ratio: 44.5%; rating input score 44
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -60.7%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 13.86; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 20.2%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: -4.1% per year; rating input score 0; 19th percentile among comparable filings
  • Revenue growth: -13.2% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -1.7% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 72.4% of revenue deployed · 44.5% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $162K in reported program spending
  • Leadership: top reported pay $73K · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $418K reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Program expense ratio scored 44/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.