Greenwich Art Society Inc

Nonprofit profile at a glance

EIN
066075070
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2015
Location
Greenwich, CT, USA
Phone
2036291533
Rating
52
Verdict
MIXED
Rating confidence
Moderate
Sector
Arts Education

Reported finances

Revenue
$268,043
Expenses
$258,110
Assets
$199,809
Liabilities
$5,837

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

Leadership & pay

8 people listed

Executive titles in this filing

  • ANNA PATALANO (PRESIDENT, MANAGING DIRECT)

Highest reported compensation

  • ANNA PATALANO (PRESIDENT, MANAGING DIRECT): $67,040 total reported compensation
  • MARY NEWCOMB (VP, OUTREACH ADIMINISTRATO): $33,621 total reported compensation
  • ELLEN GORDON (VP PUBLIC RELATIONS): $2,198 total reported compensation

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

Overview

Mission

Founded in 1912 by the cos cob colony of american expressionists, the greenwich art society's mission is to further education and stimulate interest in the visual arts through classes, exhibitions, lectures, and gallery trips. The organizations serves to promote a cultural cotribution through scholarships and educational outreach programs to underserved groups and individuals.

What it reported doing in 2024

Art classes - conducted four semesters of art classes in our own studio with a total of 390 semester of students.

Operating model

Revenue model
Earned-program. 79% 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

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 65
  • Accountability: 34
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.9%; rating input score 53
  • Program expense ratio: 56.4%; rating input score 56
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 50%; rating input score 50; 16th percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 11
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.7%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 0.77; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 40.3%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 10.2% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 52.9% of revenue deployed · 56.4% of spending went to programs
  • Governance: 4 of 8 board members independent · 1 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $146K in reported program spending
  • Leadership: top reported pay $67K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules · includes major donors and executive pay
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 7 of 8 not reported.
  • Review — Financial Efficiency: Program expense ratio scored 56/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.