Fairbanks Concert Association

Nonprofit profile at a glance

EIN
920094139
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Fairbanks, AK, USA
Phone
9074748081
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music

Official website

Reported finances

Revenue
$625,743
Expenses
$685,362
Assets
$1,183,097
Liabilities
$284,139

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

Leadership & pay

12 people listed

Executive titles in this filing

  • MIKE POWERS (PRESIDENT)
  • PAUL KREJCI (VICE PRESIDENT)
  • PAUL EWERS (VICE PRESIDENT)
  • MARIE-SYLVESTRE OLESEN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARIE-SYLVESTRE OLESEN (EXECUTIVE DIRECTOR): $94,487 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 present, promote, and sponsor artistically and culturally diverse performing arts events and educational opportunities of the highest quality from stages around the world.

What it reported doing in 2024

For our 2024-25 fiscal year, fca planned a robust and highly diverse season with 11 performances on the roster including jazz, scottish celtic, dance, hawaiian, comedy, soul & funk, country, circus, and sea shanties. Education being a pillar of our mission, our artists will offer four school shows, three masterclasses, and two outreach events in the community. We brought two performers to rural communities in delta junction and healy and connected with local youth groups. We also offered complimentary tickets to 15 different social organizations, and we plan to build on this for this coming season by extending the offer to the local military bases.

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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.4%; rating input score 73
  • Program expense ratio: 64.8%; rating input score 65
  • Fundraising efficiency: $8.07 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: -9.5%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 1.73; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 13.8%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 3.8% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 73.4% of revenue deployed · 64.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $444K in reported program spending
  • Leadership: top reported pay $94K · 12 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 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: Fundraising efficiency scored 31/100.
  • High — Sustainability: Operating margin scored 17/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 26/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.