Fafo Inc

Nonprofit profile at a glance

EIN
591531258
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Ocala, FL, USA
Phone
3528670355
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$222,622
Expenses
$231,670
Assets
$713,551
Liabilities
$109

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

Leadership & pay

20 people listed

Executive titles in this filing

  • EMILY ADREWS (PRESIDENT)

People named in this filing

  • EMILY ADREWS (PRESIDENT)
  • BETH CANNON (BOARD MEMBER)
  • AMY CASALETTO (ADMIN COORDI)

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

Fafo's mission is to promote the fine arts and enhance art educatioon within our community.

What it reported doing in 2024

Ocala arts festival - fafo brings artist from all over the USA to participate in a downtown arts festival. 155-200 fine artist exhibit their works of art for a two-day weekend each october. The event draws approximately 20,000 or more visitors. A studnet art exhibit is included that showcases the work of all marion county public and private schools. Fafo employes local musicans, artist, rental companies and performers to assist.

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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 68
  • Sustainability: 50
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.9%; rating input score 91
  • Program expense ratio: 82.4%; rating input score 82
  • Fundraising efficiency: $35.08 raised per $1 spent on fundraising; rating input score 70; 70th 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95%; rating input score 95; 26th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.1%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 3.08; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 0.9% per year; rating input score 100; 34th percentile among comparable filings
  • Revenue growth: -0.7% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 90.9% of revenue deployed · 82.4% of spending went to programs
  • Governance: 19 of 20 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $191K in reported program spending
  • Leadership: top reported pay $0 · 20 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • 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: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.