Minnetonka Center for the Arts
Nonprofit profile at a glance
- EIN
- 410804989
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Wayzata, MN, USA
- Phone
- 9524737361
- Rating
- 71
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts Education
Reported finances
- Revenue
- $1,499,527
- Expenses
- $1,520,424
- Assets
- $4,605,414
- Liabilities
- $227,301
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
12 people listed
Executive titles in this filing
- ROXANNE L HEATON (EXECUTIVE DIRECTOR)
Highest reported compensation
- ROXANNE L HEATON (EXECUTIVE DIRECTOR): $158,170 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
In the belief that the visual arts are indispensable to a healthy community, it is the mission of the minnetonka center for the arts to provide teaching excellence, quality exhibitions, and cultural enrichment for people of all ages, interests, and abilities.
What it reported doing in 2024
Studio classes: in pursuit of our goal to enhance the quality of life in our community, we provide year-round studio classes for adults, youth, and children. We provide classes in painting, drawing, sculpture, ceramics, photography, fiber arts, glass, jewelry and more. Instructors are highly skilled, professional artists with experience and an interest in nurturing and guiding developing artists. For fy25, we held 554 on-site studio classes and workshops and had over 2,801 registrations. In addition, we had over 581 registrations for our summer arts camp, which provides a unique opportunity for children and youth ages 5-15 to experience a professional art studio environment and learn from working artists.
Operating model
- Revenue model
- Earned-program. 66% of the money available for current operations came from fees and other program revenue.
- 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 70
- Transparency & Controls: 70
- Accountability: 100
- Sustainability: 47
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 76.5%; rating input score 77
- Program expense ratio: 75.4%; rating input score 75
- Fundraising efficiency: $4.99 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- 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; 63rd percentile among comparable filings
- Governance controls: 8 of 8 controls in place; rating input score 100
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -1.4%; rating input score 32; 32nd percentile among comparable filings
- Total-asset coverage ratio: 3.03; rating input score 75; 75th percentile among comparable filings
- Liabilities to assets ratio: 0.05; rating input score 52; 52nd percentile among comparable filings
- Officer compensation ratio: 10.4%; rating input score 35; 35th percentile among comparable filings
Growth
- Program expense growth: -0.9% per year; rating input score 0; 15th percentile among comparable filings
- Revenue growth: -0.4% per year; rating input score 0; 13th percentile among comparable filings
- Asset growth: -0.8% per year; rating input score 0; 15th percentile among comparable filings
Details
- Where the money goes: 76.5% of revenue deployed · 75.4% of spending went to programs
- Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $1.1M in reported program spending
- Leadership: top reported pay $158K · 12 people listed · 1 of 6 pay-setting controls reported
- Consistency: 29 of 29 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 15 filing years from 2010 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 — Financial Efficiency: Fundraising efficiency scored 17/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 32/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Officer compensation ratio scored 35/100.
- Review — Sustainability: Liabilities to assets ratio scored 52/100.