Fabulous Arts Foundation
Nonprofit profile at a glance
- EIN
- 274013351
- IRS 990-EZ coverage
- 2024–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2023
- Location
- Sarasota, FL, USA
- Phone
- 9412284872
- Rating
- 42
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Lesbian, Gay Rights
Reported finances
- Revenue
- $83,533
- Expenses
- $81,707
- Assets
- $35,337
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- Paul Salvador (Vice President)
- Shannon Fortner (Founder/President)
People named in this filing
- Paul Salvador (Vice President)
- Kristin B Burnett (Officer)
- Eska Palmer (Officer)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To support, promote, and advance the arts as a vehicle for inclusion, visibility, and community well-being? particularly for LGBTQ+ individuals and allies.
What it reported doing in 2024
0-99 The Art of a Rainbow Life: Still Here, Still Becoming is an intergenerational exhibition celebrating queer life, resilience, transformation, memory, and becoming across generations. This exhibition aslo included several community workshops for artists of all ages (0-99) showcasing a variety of different types of art through their lens.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
The verdict
MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 100
- Sustainability: 38
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 2.2%; rating input score 50; 50th percentile among comparable filings
- Total-asset coverage ratio: 0.43; rating input score 27; 27th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 5 of 6 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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 — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Moderate — Transparency & Controls: Part I part ii net assets crosscheck did not reconcile in the filed values.
- Review — Sustainability: Operating margin scored 50/100.
- High — Sustainability: Total-asset coverage ratio scored 27/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.