Midwest Art Catalyst Inc

Nonprofit profile at a glance

EIN
451056783
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2024
Location
Mankato, MN, USA
Phone
5073803433
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$443,429
Expenses
$388,254
Assets
$64,386
Liabilities
$0

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

Leadership & pay

4 people listed

People named in this filing

  • Kelly Bunde (Director)
  • Jake Downs (Director)
  • Megan Dell (Pres)

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

Promote creative growth and to enrich the community through art and music

What it reported doing in 2024

Support the growth of the art community through fundraisers to fund art and music programs in our local community. Bring community together through photography and create a collage of different communitites to promote diversity, joy, and humanity through the arts.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 99% 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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 89
  • Accountability: 45
  • Sustainability: 51
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.3%; rating input score 87
  • Program expense ratio: 99.7%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 5th 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: 66.7%; rating input score 67; 18th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.4%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 0.17; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 87.3% of revenue deployed · 99.7% of spending went to programs
  • Governance: 2 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $387K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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: 5 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.