Lakewood Summer Arts Faire Inc

Nonprofit profile at a glance

EIN
260972243
IRS 990-EZ coverage
2011–2023
Forms available
Form 990-EZ 2023, Form 990-N 2010
Location
Dallas, TX, USA
Phone
2148239623
Rating
40
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$5
Expenses
$8,963
Assets
$0
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Gail Davis (President, Director)

People named in this filing

  • Alan Noel (Secretary, Director)
  • Julie Stauble (Treasurer, Director)
  • Nancy Fomby (Director)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The primary purpose of the organization is to promote and support the arts and culture in the Lakewood area of Dallas. In previous years the organization held an arts fair, but interest and attendance dwindled, and the fair was cancelled for 2016 through 2023. In 2023 the Board of Directors took action to dissolve the Corporation. The organization has disbursed all assets to Lakewood UMC to support music and children's enrichment programs and has filed a termination with the State of Texas.

What it reported doing in 2023

In previous years the organization held an arts fair, but interest and attendance dwindled and the fair was cancelled for 2016 - 2019. In May 2018 the officers approved a $500 grant to a music summer camp held at Lakewood UMC but the funds were not used. In February 2020 the officers and board approved funding music and arts programs at Lakewood UMC for students and adults. Due to COVID 19 no staff person was hired for the purposes approved. In early 2022 a Children's Minister was hired at Lakewood UMC. The board intends to fund programs in this area.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up. 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: 0
  • Transparency & Controls: 100
  • Sustainability: 7
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -179,160%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -42.9% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -33.3% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -5% per year; rating input score 0; 24th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 8 of 9 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2011 to 2023
  • Contacts: How to reach this organization
  • 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: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Transparency & Controls: Part III transfer expenses within program total did not reconcile in the filed values.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.