Fine Arts Institute of Edmond

Nonprofit profile at a glance

EIN
731250294
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Edmond, OK, USA
Phone
4053404481
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Education

Official website

Reported finances

Revenue
$870,576
Expenses
$763,230
Assets
$1,416,836
Liabilities
$348,421

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

Leadership & pay

17 people listed

Executive titles in this filing

  • ANDREA DURBIN (PRESIDENT)
  • LEWIS JONES (PRESIDENT-EL)

Highest reported compensation

  • SHANNON PRICE (EXECUTIVE DI): $99,251 total reported compensation

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

Overview

Mission

Fine arts institute of edmond is a non-profit educational arts organization offering visual and performing arts opportunities for children and adults in the edmond area. The institute is supported primarily through class tuition, donations and grants.

What it reported doing in 2024

Visual and performing art classes are offered to the community in several areas including painting, sculpting, drawing, drama, etc. Classes are open to students pre-school through adults, regardless of race, color, creed or disability.

Operating model

Revenue model
Other-operating. 62% of the money available for current operations came from other operating revenue.
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. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68%; rating input score 68
  • Program expense ratio: 76.8%; rating input score 77
  • Fundraising efficiency: Limited

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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 12.3%; rating input score 66; 66th percentile among comparable filings
  • Total-asset coverage ratio: 1.86; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 13%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 68% of revenue deployed · 76.8% of spending went to programs
  • Governance: 16 of 16 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $586K in reported program spending
  • Leadership: top reported pay $99K · 17 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • 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 — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.