Pocosin Arts Inc

Nonprofit profile at a glance

EIN
561881210
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Columbia, NC, USA
Phone
2527962787
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Visual Arts Organizations

Official website

Reported finances

Revenue
$1,216,896
Expenses
$1,159,201
Assets
$4,064,080
Liabilities
$159,347

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

Leadership & pay

15 people listed

Executive titles in this filing

  • C JAMES MEYER (PRESIDENT)

Highest reported compensation

  • MARLENE TRUE (FORMER EXECU): $108,807 total reported compensation
  • GRETCHEN SCHERMERHORN (EXECUTIVE DI): $15,833 total reported compensation

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

Overview

Mission

Enhance appreciation for local arts and crafts glorifying the rich cultural heritage found in eastern North Carolina.

What it reported doing in 2024

Offerred a variety of classes (including online), youth programs, and workshops in local arts and crafts; provided a retail outlet for sales of locally produced arts and crafts.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.3%; rating input score 55
  • Program expense ratio: 57.2%; rating input score 57
  • Fundraising efficiency: $2.83 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

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; 63rd 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: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.7%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 3.51; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 10.8%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 12.8% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 10.1% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 55.3% of revenue deployed · 57.2% of spending went to programs
  • Governance: 13 of 13 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $663K in reported program spending
  • Leadership: top reported pay $109K · 15 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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 — Financial Efficiency: Mission deployment rate scored 55/100.
  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • Moderate — Sustainability: Operating margin scored 49/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.