Keysmith Foundation

Nonprofit profile at a glance

EIN
932004243
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Round Rock, TX, USA
Phone
5129815220
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$224,216
Expenses
$89,561
Assets
$221,591
Liabilities
$85,000

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

Leadership & pay

3 people listed

Executive titles in this filing

  • YAPHET SMITH (PRESIDENT)

People named in this filing

  • YAPHET SMITH (PRESIDENT)
  • MARKEITH ALLEN (SECRETARY)
  • JANET BAWCOM (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To enrich life through story. In particular, we seek ways to share stories and approaches to storytelling that reflect "black people's full humanity."

What it reported doing in 2024

Our initial focus is spaces, programming, and materials to help preserve and activate the legacy of the self-proclaimed "unusual artist" ms. L.v. Hull from kosciusko, Mississippi. These efforts include working with other charitable partners to develop the first public arts complex in kosciusko, ms: the l.v. Hull legacy center; preserving her home as both a historic site and a space for future programming; creating and offering exhibitions about ms. Hull; hosting talks, community events, and other programming related to her art, life, and legacy; and providing community screenings of documentaries about both ms. Hull and other self-taught artists and environment creators.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 73
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 38.3%; rating input score 38
  • Program expense ratio: 96%; rating input score 96
  • Fundraising efficiency: $251.93 raised per $1 spent on fundraising; rating input score 93; 93rd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 60.1%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 2.47; rating input score 64; 64th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 38.3% of revenue deployed · 96% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $86K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Mission deployment rate scored 38/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.