Nobo Art District

Nonprofit profile at a glance

EIN
463239346
IRS 990 coverage
2025–2025
Forms available
Form 990 2025, Form 990-EZ 2024, Form 990-N 2020
Location
Boulder, CO, USA
Phone
3035231117
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$172,439
Expenses
$157,446
Assets
$65,639
Liabilities
$2,908

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • Megan Mazzoni (President)
  • Elizabeth Campos (Executive Director)
  • Leah Brenner Clack (Executive Director)

Highest reported compensation

  • Leah Brenner Clack (Executive Director): $25,527 total reported compensation
  • Elizabeth Campos (Executive Director): $16,960 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We are a member-based community of artists and businesses who promote all forms of art through events, showcases and education.

What it reported doing in 2025

Events: First Friday and Second Saturday are open house/outdoor events held to increase visibility of our artist members to the greater community. In 2025 we held nine First Friday and six Second Saturday events with an average of 650 and 50 persons respectively attending.

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

STRONG - 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 36
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.7%; rating input score 83
  • Program expense ratio: 77%; rating input score 77
  • Fundraising efficiency: $61.89 raised per $1 spent on fundraising; rating input score 77; 77th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.7%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 27%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 22.4% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 2.3% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 82.7% of revenue deployed · 77% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $121K in reported program spending
  • Leadership: top reported pay $26K · 11 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.