Kentucky College of Art Design

Nonprofit profile at a glance

EIN
272232797
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5024306191
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Graduate, Professional Schools (Separate Entities)

Official website

Reported finances

Revenue
$4,059,787
Expenses
$4,151,010
Assets
$5,730,070
Liabilities
$569,052

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

Leadership & pay

29 people listed

Executive titles in this filing

  • MOIRA SCOTT PAYNE (PRESIDENT)
  • ALICE ALT (VICE PRESIDENT OF ADVANCEMENT)
  • ELISSA GRAFF (INTERIM VICE PRESIDENT OF ACADEMIC AFFAIRS)

Highest reported compensation

  • MOIRA SCOTT PAYNE (PRESIDENT): $301,186 total reported compensation
  • JOYCE OGDEN (VP OF ACADEMIC AFFAIRS): $144,994 total reported compensation
  • ALICE ALT (VICE PRESIDENT OF ADVANCEMENT): $117,763 total reported compensation

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

Overview

Mission

The Kentucky college of art and design opens the door to a creative and productive life through an undergraduate education in the contemporary arts.

What it reported doing in 2024

Founded in 2009, Kentucky college of art and design is proud of its success. Core values and principles have helped to shape the institution and our work toward a mission to provide a transformational experience for our students. As a brand-new independent college looking to demonstrate the value of the arts to society, we embrace the ability of the arts to reflect a generation's interests and opinions. This college places the meaning of practice and the artist's voice beside the skills and the tools with which we speak.from our histories to new technologies, from our crafts and material practices to a new digital world of the virtual and unreal, we investigate the very roots of what it means to be human in a wide variety of ways. Artists use not only intution and speculation, but also spiritual, emotional, analytical and material ways to search for new knowledge.in november of 2018, the Kentucky council on post secondary education granted the Kentucky college of art and design the autority to grant a bfa in studio art.

Operating model

Revenue model
Grant-funded. 74% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 70% for direct work, and 30% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.4%; rating input score 61
  • Program expense ratio: 60.1%; rating input score 60
  • Fundraising efficiency: $8.41 raised per $1 spent on fundraising; rating input score 32; 32nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • 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: 9 of 9 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.2%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 1.38; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 22.1%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 16.8% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 10.7% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 18.1% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 61.4% of revenue deployed · 60.1% of spending went to programs
  • Governance: 23 of 23 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.5M in reported program spending
  • Leadership: top reported pay $301K · 29 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 32/100.
  • High — Sustainability: Operating margin scored 26/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.