Fund for the Arts

Nonprofit profile at a glance

EIN
550614854
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Charleston, WV, USA
Phone
6817104010
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$222,033
Expenses
$258,858
Assets
$340,447
Liabilities
$12,606

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

Leadership & pay

27 people listed

Executive titles in this filing

  • SARAH WRIGHT (EXECUTIVE DIRECTOR)
  • MARTHA HALL (PRESIDENT)
  • STEPHANIE PULICE (VICE PRESIDENT - FESTIVALS)
  • BRETT STAPLES (VICE PRESIDENT - FOUNDATIONS/GOVT)
  • ROBIN SABER-PAULEY (VICE PRESIDENT - CAMPAIGN)
  • JACOB ADAMS (VICE PRESIDENT - ALLOCATIONS)

Highest reported compensation

  • SARAH WRIGHT (EXECUTIVE DIRECTOR): $55,000 total reported compensation

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

Overview

Mission

Accumulation of resources and funds from donors and allocating such funds in support of artistic and educational endeavors

What it reported doing in 2024

Allocation of funds to 11 art and educational organizations.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 94
  • Accountability: 72
  • Sustainability: 28
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.1%; rating input score 80
  • Program expense ratio: 67.6%; rating input score 68
  • Fundraising efficiency: $4.54 raised per $1 spent on fundraising; rating input score 20; 20th 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.3%; rating input score 96; 26th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16.6%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 1.32; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 21.2%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: -1% per year; rating input score 0; 27th percentile among comparable filings
  • Revenue growth: -1.4% per year; rating input score 0; 18th percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 80.1% of revenue deployed · 67.6% of spending went to programs
  • Governance: 26 of 27 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $175K in reported program spending
  • Leadership: top reported pay $55K · 27 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 11 filed related-organization links
  • 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 — Accountability: Governance controls: 5 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 20/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.