Mankato Area Arts Council

Nonprofit profile at a glance

EIN
411353363
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2014, Form 990-N 2010
Location
Mankato, MN, USA
Phone
5076252730
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$84,900
Expenses
$268,471
Assets
$1,090,277
Liabilities
$1,875

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

Leadership & pay

13 people listed

Executive titles in this filing

  • Shannon Sinning (President)
  • Heather Clark-Esser (Vice President)
  • Charles Leftridge (Executive Director)

Highest reported compensation

  • Charles Leftridge (Executive Director): $62,654 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the Mankato Area Arts Council, DBA Carnegie Art Center, is to be a vibrant community destination that inspires, nurtures, and expands artistic, cultural, and educational experiences.

What it reported doing in 2024

The organization provides a production of rotating, visual art exhibits featuring approximately 500 pieces of art by over 160 Southern Minnesota artists for the benefit of nearly 2,500 audience participants per year.

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.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 92
  • Accountability: 63
  • Sustainability: 24
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 80.6%; rating input score 81
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -216.2%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 4.06; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 23.3%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 6.2% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: -3.1% per year; rating input score 0; 49th percentile among comparable filings
  • Asset growth: 14.9% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 80.6% of spending went to programs
  • Governance: 12 of 12 board members independent · 1 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $217K in reported program spending
  • Leadership: top reported pay $63K · 13 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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: 6 of 7 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.