Friends of the Kentucky Folk Art Center Inc
Nonprofit profile at a glance
- EIN
- 611274694
- IRS 990-EZ coverage
- 2010–2018
- Forms available
- Form 990-EZ 2018
- Location
- Morehead, KY, USA
- Phone
- 6067832204
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Folk Arts
Reported finances
- Revenue
- $107,402
- Expenses
- $186,081
- Assets
- $0
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2018. Amounts in USD.
Leadership & pay
6 people listed
People named in this filing
- JAMES SHAW (MEMBER)
- DAN CLICK (MEMBER)
- JACKIE HAMILTON (MEMBER)
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 2018. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide educational opportunities, benefits, and programs to the public to enhance the awareness of and foster an appreciation and understanding of contemporary folk art.
What it reported doing in 2018
The center brings at least four new exhibits to east Kentucky each year. The exhibitions range in content from folk art, such as textiles or found assemblages, to contextually related subject matter, including regional history and food traditions. The center also produces original traveling exhibitions. Exhibitions of Kentucky folk art travel throughout Kentucky and into other states and countries.
Operating model
- Revenue model
- Donor-supported. 88% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 66% of its reported program spending out as grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 88
- Transparency & Controls: 100
- Sustainability: 8
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 68.7%; rating input score 69
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -73.3%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 64; 64th percentile among comparable filings
Growth
- Program expense growth: 4.7% per year; rating input score 100; 49th percentile among comparable filings
- Revenue growth: 4.3% per year; rating input score 100; 48th percentile among comparable filings
- Asset growth: -7.5% per year; rating input score 0; 15th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 68.7% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 5 filed program accomplishments · $128K in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 4 filed schedules
- Filing history: 9 filing years from 2010 to 2018
- 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.
- High — Sustainability: Operating margin scored 1/100.
- High — Sustainability: Total-asset coverage ratio scored 1/100.
- High — Growth: Asset growth scored 0/100.