Longmont Council for the Arts Dba Arts Longmont

Nonprofit profile at a glance

EIN
742381520
IRS 990 coverage
2013–2018
Forms available
Form 990 2018, Form 990-EZ 2012
Location
Longmont, CO, USA
Phone
3036787869
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Council/Agency

Official website

Reported finances

Revenue
$104,400
Expenses
$105,165
Assets
$8,017
Liabilities
$32,806

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • W VITO MONTONE (PRESIDENT)
  • MARIANNE LORENZ (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARIANNE LORENZ (EXECUTIVE DIRECTOR): $18,866 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The longmont council for the arts dba arts longmont provides leadership and advocacy to support, inspire, and enhance the arts community to elevate the quality of life in the greater st. Vrain valley region.

What it reported doing in 2018

In 2018 arts longmont took some difficult steps in order to balance our annual operating budget and begin to reduce our accounts payables and begin to pay off a bank line of credit. To those ends, we closed the arts longmont gallery and moved our offices into a new, less expensive building. Nonetheless, we continued to ensure that longmont's rich cultural diversity is not only sustained but nurtured. We now oversee four programs in both the visual and performing arts, providing administrative and marketing support. We continue to ensure that the arts are accessible for the entire community regardless of economic status. As an arts and cultural leader, we utilize our resources to educate the community on the importance of art in our lives and have taken a leadership role to be the voice of the arts in the city. In 2018, arts longmont provided the following programs: arts longmont studio tour, friday afternoon concerts & art shows, arts education in the st. Vrain valley school district, and art around town. We are funded through grants, sponsorships, donations, and art & ticket sales.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. 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: 48
  • Transparency & Controls: 70
  • Accountability: 90
  • Sustainability: 22
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.4%; rating input score 48
  • Program expense ratio: 47.9%; rating input score 48
  • Fundraising efficiency: $12.08 raised per $1 spent on fundraising; rating input score 46; 46th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: No; rating input score 0
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -0.7%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.08; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 4.09; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 17.9%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: -9.6% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: -21.2% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 48.4% of revenue deployed · 47.9% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $50K in reported program spending
  • Leadership: top reported pay $19K · 9 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 5 filing years from 2013 to 2018
  • Contacts: How to reach this organization
  • Money network: 3 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.

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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 48/100.
  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.