Richmond Area Arts Council Inc

Nonprofit profile at a glance

EIN
611168831
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2009
Location
Richmond, KY, USA
Phone
8596244242
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$253,926
Expenses
$187,597
Assets
$1,442,587
Liabilities
$28

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

Leadership & pay

6 people listed

Highest reported compensation

  • RANDY WESTBROOK (Executive Dir.): $54,309 total reported compensation

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

Overview

Mission

Enhancement of the local arts

What it reported doing in 2024

Promoted and presented arts events and arts education programs- Over 7,200 people attended summer concerts; 5,410 attended other events and presentations; and 4,214 kids and adults attended arts camps, afterschool arts activities and adult arts classes.

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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 71
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.9%; rating input score 52
  • Program expense ratio: 63.9%; rating input score 64
  • Fundraising efficiency: Limited

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; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • 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: Fail

Sustainability

  • Operating margin: 26.1%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 7.69; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 28.9%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: -7.9% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 1.9% per year; rating input score 100; 34th percentile among comparable filings
  • Asset growth: 2.5% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 51.9% of revenue deployed · 63.9% of spending went to programs
  • Governance: 22 of 22 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $120K in reported program spending
  • Leadership: top reported pay $54K · 6 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 13 filing years from 2010 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 52/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.