Firstworks

Nonprofit profile at a glance

EIN
222597014
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Providence, RI, USA
Phone
4014214278
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$1,547,151
Expenses
$1,634,285
Assets
$572,812
Liabilities
$368,405

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

Leadership & pay

23 people listed

Executive titles in this filing

  • NIRVA LAFORTUNE (PRESIDENT)
  • J RICHARD RATCLIFFE (VICE PRESIDENT)
  • AKANKSHA AGA (VICE PRESIDENT)

Highest reported compensation

  • KATHLEEN PLETCHER (EX OFFICIO): $111,070 total reported compensation

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

Overview

Mission

Firstworks' mission is to enrich the cultural, educational, and economic fabric of Rhode Island by engaging diverse audiences with world-class performing arts and education.

What it reported doing in 2024

Across the 2024-2025 season, firstworks continued to deepen partnerships, expand access to the arts for rhode islanders, and amplify diverse artistic voices in our community. During the season, we presented more than 60 total events, presenting over 55 global and local performing artists, and sharing 240+ gifted tickets in our community. Firstworks co-produced pvdfest for the 11th year, partnering with the department of art, culture and tourism on the city of providence's signature arts festival which employed 600 artists, 250 craft vendors, and attracted close to 50,000 attendees.firstworks' arts learning program connected world-class artists with students and educators across Rhode Island, providing meaningful opportunities for young people to experience the performing arts. This year we engaged over 3500 students with in-person arts events.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 92
  • Accountability: 81
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.1%; rating input score 75
  • Program expense ratio: 71%; rating input score 71
  • Fundraising efficiency: $7.24 raised per $1 spent on fundraising; rating input score 28; 28th 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: 95%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.6%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.35; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.64; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 4.5% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 12.3% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 75.1% of revenue deployed · 71% of spending went to programs
  • Governance: 19 of 20 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $111K · 23 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 28/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 23/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.