Monroe Council of the Arts Corporation

Nonprofit profile at a glance

EIN
650737532
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Key West, FL, USA
Phone
3052954369
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Council/Agency

Official website

Reported finances

Revenue
$405,801
Expenses
$471,816
Assets
$208,943
Liabilities
$203

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Elizabeth Young (Executive Director)

Highest reported compensation

  • Elizabeth Young (Executive Director): $92,730 total reported compensation

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

Overview

Mission

Arts Advocacy Education & Grants

What it reported doing in 2024

Monroe Council of the Arts committed to advancing the creative development and promotion of the arts in our cultural community. Through financial support, to teaching artists and cultural organizations in Monroe County, Florida, we provided grants in' the amount of $ 53,965

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 94% 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. The filing does not identify recipients for some grant dollars and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 66
  • Accountability: 84
  • Sustainability: 23
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86%; rating input score 86
  • Fundraising efficiency: $16.09 raised per $1 spent on fundraising; rating input score 52; 52nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 3rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 21.9%; rating input score 22; 38th percentile among comparable filings
  • 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -16.3%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 56; 56th percentile among comparable filings
  • Officer compensation ratio: 19.7%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: -0.9% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: -5.8% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $406K in reported program spending
  • Leadership: top reported pay $93K · 10 people listed
  • Consistency: 41 of 43 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Transparency & Controls: Grant itemization coverage scored 22/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 52/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 56/100.