Franklin Art Assoc Inc
Nonprofit profile at a glance
- EIN
- 510184139
- IRS 990-EZ coverage
- 2020–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2013
- Location
- Franklin, MA, USA
- Phone
- 9787933515
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts, Cultural Organizations - Multipurpose
Reported finances
- Revenue
- $7,065
- Expenses
- $8,444
- Assets
- $3,582
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- Nicole Horsman (President)
- Madeleine Saggiomo (Vice President)
People named in this filing
- Nicole Horsman (President)
- Madeleine Saggiomo (Vice President)
- Kim Dowe (Treasurer)
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
Art education and instruction.
What it reported doing in 2024
Provided a $1,000 scholarship to each of 2 graduating Franklin High School seniors to pursue an art degree. Judging criteria consisted of a portfolio, continuing education plan, teacher recommendation and grades.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 60% for direct work, and 40% for grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 66
- Transparency & Controls: 82
- Sustainability: 33
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 70.5%; rating input score 70
- Program expense ratio: 59%; rating input score 59
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -19.5%; rating input score 23; 23rd percentile among comparable filings
- Total-asset coverage ratio: 0.42; rating input score 27; 27th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 10% per year; rating input score 100; 72nd percentile among comparable filings
- Revenue growth: 6% per year; rating input score 100; 74th percentile among comparable filings
- Asset growth: 12.1% per year; rating input score 100; 76th percentile among comparable filings
Details
- Where the money goes: 70.5% of revenue deployed · 59% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments · $5K in reported program spending
- Leadership: top reported pay $0 · 5 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 2 filed schedules
- Filing history: 5 filing years from 2020 to 2024
- Contacts: How to reach this organization
- 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.
- Review — Financial Efficiency: Program expense ratio scored 59/100.
- High — Sustainability: Operating margin scored 23/100.
- High — Sustainability: Total-asset coverage ratio scored 27/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.