Lea Community Foundation for the Arts
Nonprofit profile at a glance
- EIN
- 464885386
- IRS 990 coverage
- 2017–2017
- Forms available
- Form 990 2017, Form 990-EZ 2016
- Location
- Lovington, NM, USA
- Phone
- 5753080446
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Community Foundations
Reported finances
- Revenue
- $229,004
- Expenses
- $133,293
- Assets
- $102,692
- Liabilities
- $914
Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.
Leadership & pay
2 people listed
Executive titles in this filing
- MICHAEL DODSON (PRESIDENT)
People named in this filing
- MICHAEL DODSON (PRESIDENT)
- BEN ARGUIJO (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 2017. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of the foundation is to develop and promote community interest in the arts and enrich life in southeast New Mexico through educational, artistic and cultural opportunities. It shall be the purpose of this foundation to aid, encourage, advise and correlate all activities dedicated to the promotion of cultural arts in lovington and neighboring communities. Believing that a dynnamic cultural atmosphere can be of economic as well as aesthetic value to the area by attracting industry and appealing to prospective residents, this foundation is created to provide the neutral ground where the total program of the visual and performing arts in the area can be integrated, given direction and expanded.
What it reported doing in 2017
Aid, encourage, advise and correlate all activities dedicated to the promotion of cultural arts.
Operating model
- Revenue model
- Donor-supported. 74% of the money available for current operations came from contributions and gifts.
- 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.
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: 66
- Transparency & Controls: 90
- Accountability: 70
- Sustainability: 68
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 58.2%; rating input score 58
- Program expense ratio: 100%; rating input score 100
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Fail
- 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: 41.8%; rating input score 91; 91st percentile among comparable filings
- Total-asset coverage ratio: 0.77; rating input score 36; 36th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 56; 56th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 72; 72nd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 74% per year; rating input score 100; 99th percentile among comparable filings
- Asset growth: 114.7% per year; rating input score 100; 99th percentile among comparable filings
Details
- Where the money goes: 58.2% of revenue deployed · 100% of spending went to programs
- Governance: 5 of 5 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $133K in reported program spending
- Leadership: top reported pay $0 · 2 people listed
- Consistency: 22 of 22 current checks pass
- Schedules: 3 filed schedules
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- Review — Financial Efficiency: Mission deployment rate scored 58/100.
- High — Accountability: Governance controls: 4 of 6 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
- Review — Sustainability: Liabilities to assets ratio scored 56/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.