Floyd Community Center for the Arts

Nonprofit profile at a glance

EIN
541750001
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Floyd, VA, USA
Phone
5407452784
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Visual Arts Organizations

Reported finances

Revenue
$412,595
Expenses
$440,064
Assets
$1,096,329
Liabilities
$122,595

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

Leadership & pay

17 people listed

Executive titles in this filing

  • Keela Marshall (Executive Director)
  • Kerry Ackerson (Past President)
  • Abby Reczek (President)
  • Kurt Grosshans (Vice President)

Highest reported compensation

  • Keela Marshall (Executive Director): $58,117 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 facilitate and showcase artistic endeavors and creativity; to provide education in the arts throughout our rural community and region.

What it reported doing in 2024

Education program - The Center offers educational programming for adults in a wid range of art media through classes, workshops, open studio sessions, and lectures.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 92
  • Accountability: 95
  • Sustainability: 38
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.5%; rating input score 75
  • Program expense ratio: 64.8%; rating input score 65
  • Fundraising efficiency: $10.4 raised per $1 spent on fundraising; rating input score 40; 40th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.7%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 2.49; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 13.2%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: -0.8% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: 9.2% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 74.5% of revenue deployed · 64.8% of spending went to programs
  • Governance: 16 of 16 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $285K in reported program spending
  • Leadership: top reported pay $58K · 17 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 4 filing years from 2020 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 40/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.