Fine Arts Work Center in Provincetown Inc
Nonprofit profile at a glance
- EIN
- 042487373
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Provincetown, MA, USA
- Phone
- 5084879960
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts, Cultural Organizations - Multipurpose
Reported finances
- Revenue
- $2,697,710
- Expenses
- $2,800,134
- Assets
- $8,820,196
- Liabilities
- $1,933,682
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
30 people listed
Executive titles in this filing
- LYNNE KORTENHAUS (PRESIDENT)
Highest reported compensation
- SHARON POLLI (EXECUTIVE DI): $175,848 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The fine arts work center is an artist-led organization based in provincetown and connected to the world. We support artistic freedom, nurture creative connections, and make possible artistic achievements important to the larger culture.
What it reported doing in 2024
Fellowship program: seven-month residencies for emerging writers and artists: the fine arts work center is one of the country's preeminent long-term residencies, offering a unique fellowship program for writers and visual artists in the crucial early stages of their careers. The work center provides seven-month fellowships to twenty fellows each year in the form of living/work space and a monthly stipend. Residencies run from october 1 through april 30. Fellows pursue their work independently in a diverse and supportive community of peers while living in an area of spectacular natural beauty. Past fellows have won every major national award and prize, including the pulitzer, macarthur, whiting, pollock-krasner, tiffany, prix de rome, guggenheim, national endowment for the arts and national book award, publishing hundreds of books and exhibiting in countless museums and galleries worldwide. Fine arts work center fellows are expected to live and work in provincetown during the fellowship year. Optional group activities provide opportunities to meet program committee members, as well as visiting artists and writers of note.
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 81% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 73
- Transparency & Controls: 83
- Accountability: 84
- Sustainability: 43
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 79.2%; rating input score 79
- Program expense ratio: 75.7%; rating input score 76
- Fundraising efficiency: $8.49 raised per $1 spent on fundraising; rating input score 32; 32nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- 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: 5 of 8 controls in place; rating input score 62
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- 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: -3.8%; rating input score 22; 22nd percentile among comparable filings
- Total-asset coverage ratio: 3.15; rating input score 75; 75th percentile among comparable filings
- Liabilities to assets ratio: 0.22; rating input score 42; 42nd percentile among comparable filings
- Officer compensation ratio: 6.3%; rating input score 45; 45th percentile among comparable filings
Growth
- Program expense growth: 6.8% per year; rating input score 100; 49th percentile among comparable filings
- Revenue growth: 4.6% per year; rating input score 100; 39th percentile among comparable filings
- Asset growth: 5.1% per year; rating input score 100; 35th percentile among comparable filings
Details
- Where the money goes: 79.2% of revenue deployed · 75.7% of spending went to programs
- Governance: 29 of 29 board members independent · 5 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $2.1M in reported program spending
- Leadership: top reported pay $176K · 30 people listed · 3 of 6 pay-setting controls reported
- Consistency: 35 of 35 current checks pass
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 11 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 9 filed money-flow records
- Related organizations: 4 filed related-organization links
- 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 32/100.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Sustainability: Operating margin scored 22/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 42/100.
- Moderate — Sustainability: Officer compensation ratio scored 45/100.