FABArts Inc
Nonprofit profile at a glance
- EIN
- 863480344
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024
- Location
- Columbus, GA, USA
- Phone
- 7065758900
- Rating
- 46
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Arts Education
Reported finances
- Revenue
- $464,606
- Expenses
- $347,403
- Assets
- $333,539
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- T Fredrick McKnight (President)
Highest reported compensation
- T Fredrick McKnight (President): $64,336 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
A) To encourage corporation and free intercourse among artists, art teachers, art students, and others engaged in artistic activities; and to promote the study and improvement of the arts.B) To promote means and opportunities for the education of the public with respect to the study and culture of drama, music and arts, and the enjoyment and wholesome use of drama, music and art; to solicit, collect, and otherwise raise money for those purposes, and to expend, contribute, discurse, otherwise handle and dispose of that money for the above purposes; to promote drama, music and art activities to assist schools, colleges and universities in promoting and developing outstanding drama, music and art programs, and to assist drama, music and art organizations in supporting drama, music and art.C) To cultivate, promote, foster, sponsor, and develop among its members and the general public the appreciation, understanding, taste, and love of the arts; to promote the advancement of such purposes,
What it reported doing in 2024
A) To encourage corporation and free intercourse among artists, art teachers, art students, and others engaged in artistic activities; and to promote the study and improvement of the arts.B) To promote means and opportunities for the education of the public with respect to the study and culture of drama, music and arts, and the enjoyment and wholesome use of drama, music and art; to solicit, collect, and otherwise raise money for those purposes, and to expend, contribute, discurse, otherwise handle and dispose of that money for the above purposes; to promote drama, music and art activities to assist schools, colleges and universities in promoting and developing outstanding drama, music and art programs, and to assist drama, music and art organizations in supporting drama, music and art.C) To cultivate, promote, foster, sponsor, and develop among its members and the general public the appreciation, understanding, taste, and love of the arts; to promote the advancement of such purposes, and to secure the interest of patrons of the arts.
Operating model
- Revenue model
- Donor-supported. 100% 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
MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.
Rating breakdown
- Financial Efficiency: 40
- Transparency & Controls: 90
- Accountability: 0
- Sustainability: 61
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 36.6%; rating input score 37
- Program expense ratio: 49%; rating input score 49
- Fundraising efficiency: $7.12 raised per $1 spent on fundraising; rating input score 30; 30th percentile among comparable filings
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: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
- Governance controls: 0 of 8 controls in place; rating input score 0
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Fail
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 25.2%; rating input score 79; 79th percentile among comparable filings
- Total-asset coverage ratio: 0.96; rating input score 39; 39th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 18.5%; rating input score 21; 21st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 36.6% of revenue deployed · 49% of spending went to programs
- Governance: 0 of 3 board members independent · 0 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $170K in reported program spending
- Leadership: top reported pay $64K · 3 people listed
- Consistency: 19 of 19 current checks pass
- Schedules: 2 filed schedules
- 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 37/100.
- High — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 7 of 7 not reported.
- Moderate — Financial Efficiency: Program expense ratio scored 49/100.
- Moderate — Financial Efficiency: Fundraising efficiency scored 30/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
- High — Sustainability: Officer compensation ratio scored 21/100.