Folkwest Incorporated

Nonprofit profile at a glance

EIN
841433591
IRS 990 coverage
2010–2019
Forms available
Form 990 2019
Location
Sisters, OR, USA
Phone
9709462090
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Folk Arts

Reported finances

Revenue
$523,835
Expenses
$549,301
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Crista A Munro (Executive Director)
  • Brian W Smith (Vice President)

Highest reported compensation

  • Crista A Munro (Executive Director): $41,038 total reported compensation
  • Daniel J Appenzeller (Event Director & Pres): $6,800 total reported compensation
  • Ann Marie Bubb (Board Member): $1,700 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of FolkWest is to culturally and economically benefit the community of Pagosa Springs, Colorado and the surrounding region with cultural tourism through the production of two roots music festivals and an educational music camp.

What it reported doing in 2019

The 14th Annual Pagosa Folk 'N Bluegrass festival was held June 7-9, 2019. The musical lineup included 13 international, national and regional acts who performed and taught traditional folk, bluegrass and old time music to an all-ages audience. Musical lineup included the Del McCoury Band, The Travelin' McCourys, Sierra Hull, Kate Lee & Forest O'Connor and more.

Operating model

Revenue model
Other-operating. 85% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 68
  • Sustainability: 16
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.6%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.9%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 9%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 33rd percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.6% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $542K in reported program spending
  • Leadership: top reported pay $41K · 5 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2010 to 2019
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.