Folk Alliance Region Midwest

Nonprofit profile at a glance

EIN
201967554
IRS 990-EZ coverage
2024–2024
Forms available
Form 990-EZ 2024, Form 990-N 2023
Location
Evanston, IL, USA
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$137,533
Expenses
$95,073
Assets
$42,460

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Elexa Dawson (President)
  • Smitty Dudley Smith (Vice President)

People named in this filing

  • Elexa Dawson (President)
  • Smitty Dudley Smith (Vice President)
  • Ellen Stanley (Conference Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Folk Alliance Region Midwest FARM is a regional chapter of Folk Alliance International FAI. Our purposes are to promote traditional contemporary and multi-cultural folk music and dance and related performing arts in our region hold an annual regional conference represent the interests of our members to FAI and carry out such other projects as are of benefit to FAI members in the Midwest.

What it reported doing in 2024

2024 Gathering October 24-27 in Lisle IL Produced the annual conference offering professional development showcasing and professional networking opportunities for performers educators presenters and others professionally involved in producing and promoting folk music arts.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 82
  • Sustainability: 52
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.4%; rating input score 65
  • Program expense ratio: 94.6%; rating input score 95

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 30.9%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 0.45; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 7.2%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 65.4% of revenue deployed · 94.6% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $90K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.