Lake Region Arts Council

Nonprofit profile at a glance

EIN
411430764
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Fergus Falls, MN, USA
Phone
2187395780
Rating
86
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts Council/Agency

Official website

Reported finances

Revenue
$1,050,519
Expenses
$942,145
Assets
$405,357
Liabilities
$184,407

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

Leadership & pay

17 people listed

Executive titles in this filing

  • ERIN HEMME-FROSLIE (PRESIDENT)

People named in this filing

  • JILL AMUNDSON (BOARD MEMBER)
  • BOBBI BRICKER (BOARD MEMBER)
  • SARAH ECKEL (BOARD MEMBER)

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 encourage and support the vitality of the arts in west central Minnesota

What it reported doing in 2024

General program - distribute grants to arts organizations, individual artists, schools, and others to produce and sponsor arts events. Print newsletter for individuals and organizations. Maintain artist registry referral services. Offer support services. Maintain website and provide workshops.

Operating model

Revenue model
Grant-funded. 94% of the money available for current operations came from government grants.
Distribution model
Hybrid. The nonprofit split its reported program spending across 45% for direct work, and 55% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 86
  • Accountability: 100
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.6%; rating input score 87
  • Program expense ratio: 96.5%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 86.4%; rating input score 86; 37th 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 10.3%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 0.43; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 0.45; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 12.1% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 86.6% of revenue deployed · 96.5% of spending went to programs
  • Governance: 17 of 17 board members independent · 7 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $909K in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 30 filed money-flow records
  • Related organizations: 17 filed related-organization links
  • 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 — Sustainability: Total-asset coverage ratio scored 20/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.