Lower Adirondack Regional Arts Council

Nonprofit profile at a glance

EIN
237182079
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Glens Falls, NY, USA
Phone
5187932006
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Council/Agency

Official website

Reported finances

Revenue
$317,873
Expenses
$345,386
Assets
$159,049
Liabilities
$29,060

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

Leadership & pay

6 people listed

People named in this filing

  • Liz Wilcox (Director)
  • Taylor Myers (Director)
  • Will Sawma (Chairman)

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

LARAC's mission is to enrich the quality of life in Warren, Washington, and Norhtern Saratoga Counties. LARAC promotes, develops, coordinates and provides arts activities and services.

What it reported doing in 2024

Promoting and supporting the arts through regrants to artists and arts organizations, a gallery space, arts-related festivals, and classes and workshops.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 64% for direct work, and 36% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 84
  • Accountability: 70
  • Sustainability: 29
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.2%; rating input score 89
  • Program expense ratio: 82.1%; rating input score 82
  • Fundraising efficiency: $15.4 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 83.7%; rating input score 84; 49th percentile among comparable filings
  • 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: 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -8.7%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 0.46; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.2% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: -8.6% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 89.2% of revenue deployed · 82.1% of spending went to programs
  • Governance: 6 of 6 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $284K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 5 of 7 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 51/100.
  • High — Sustainability: Operating margin scored 24/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.