International Folk Art Alliance Inc Dba Ifam
Nonprofit profile at a glance
- EIN
- 352285824
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Santa Fe, NM, USA
- Phone
- 5059927600
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Folk Arts
Reported finances
- Revenue
- $3,009,886
- Expenses
- $2,864,468
- Assets
- $8,145,589
- Liabilities
- $84,220
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
29 people listed
Executive titles in this filing
- STACEY EDGAR (EXECUTIVE DIRECTOR)
Highest reported compensation
- STACEY EDGAR (EXECUTIVE DIRECTOR): $180,966 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Create economic opportunities for and with folk artists worldwide who celebrate and preserve folk art traditions. We envision a world that values the dignity and humanity of the handmade, honors timeless cultural traditions, and supports the work of folk artists serving as entrepreneurs and catalysts for positive social change. To augment this pursuit, the organization moved to a larger headquarters, investing in tenant improvements as the first phase of a campaign to own the building outright.
What it reported doing in 2024
Mentor to market (m2m): training program that teaches artists critical marketing and business skills to help them improve their sales, thus sustaining their traditions and creating stronger economy for themselves and their communities. In 2021, these training programs continued online but returned to in-person training in 2022. In 2023, a new pilot curriculum was developed and tested with a small number of artists with a plan for a broader implementation in 2024/2025.
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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 68
- Transparency & Controls: 89
- Accountability: 95
- Sustainability: 60
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 73.8%; rating input score 74
- Program expense ratio: 75.9%; rating input score 76
- Fundraising efficiency: $4.56 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- 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: 7 of 8 controls in place; rating input score 88
- 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: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 4.8%; rating input score 50; 50th percentile among comparable filings
- Total-asset coverage ratio: 2.84; rating input score 72; 72nd percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 85; 85th percentile among comparable filings
- Officer compensation ratio: 6.3%; rating input score 45; 45th percentile among comparable filings
Growth
- Program expense growth: -3.7% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: 0.9% per year; rating input score 100; 15th percentile among comparable filings
- Asset growth: 8.9% per year; rating input score 100; 54th percentile among comparable filings
Details
- Where the money goes: 73.8% of revenue deployed · 75.9% of spending went to programs
- Governance: 28 of 28 board members independent · 7 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $2.2M in reported program spending
- Leadership: top reported pay $181K · 29 people listed · 5 of 6 pay-setting controls reported
- Consistency: 30 of 30 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 12 filing years from 2009 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.
- High — Financial Efficiency: Fundraising efficiency scored 15/100.
- High — Growth: Program expense growth scored 0/100.
- Review — Sustainability: Operating margin scored 50/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- Moderate — Sustainability: Officer compensation ratio scored 45/100.