Hip-hop Theater Festival Inc Dba Hi-arts

Nonprofit profile at a glance

EIN
421642691
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Brooklyn, NY, USA
Phone
7184974282
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$1,197,487
Expenses
$1,150,735
Assets
$494,231
Liabilities
$45,129

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

Leadership & pay

9 people listed

Executive titles in this filing

  • AARON MCKINNEY (President/Direc)

Highest reported compensation

  • AARON MCKINNEY (President/Direc): $115,676 total reported compensation

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

Overview

Mission

Hi-arts is dedicated to advancing urban art by empowering artists to develop bold new works of performance and visual art that create a lasting and positive impact on urban communities.

What it reported doing in 2024

Hi-arts presents the work of artists from historically marginalized groups while finding creative ways to address issues related to equity and social justice.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.1%; rating input score 53
  • Program expense ratio: 55.3%; rating input score 55
  • Fundraising efficiency: $4.73 raised per $1 spent on fundraising; rating input score 16; 16th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.9%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.43; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 10.1%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 9.1% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 53.1% of revenue deployed · 55.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $636K in reported program spending
  • Leadership: top reported pay $116K · 9 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Review — Financial Efficiency: Program expense ratio scored 55/100.
  • High — Financial Efficiency: Fundraising efficiency scored 16/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.