Riverside Arts Center Foundation Inc

Nonprofit profile at a glance

EIN
383228817
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2015, Form 990-T 2023
Location
Ypsilanti, MI, USA
Phone
7344802787
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Organizations

Official website

Reported finances

Revenue
$405,796
Expenses
$470,685
Assets
$1,251,877
Liabilities
$24,706

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

Leadership & pay

15 people listed

Highest reported compensation

  • Elizabeth Warren (Executive Dir.): $88,580 total reported compensation

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

Overview

Mission

The organization is a multi-purpose cultural arts venue providing performance, exhibit, studio and reception space for artists and art cultural organizations to enrich the Ypsilanti community through the arts and cultural experiences. In addition, arts related programs such as art and theater camps and classes are offered for youth and adults.

What it reported doing in 2024

The facility was utilized for activities including theatrical productions, musical performances, visual art exhibitions, dance events, artist studios, community gatherings, and other arts-related programs, serving approximately 20,000 participants. In addition, riverside arts center offered educational programs such as summer camps, afterschool art classes, and donation-based community workshops for youth and adults.

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 a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.6%; rating input score 67
  • Program expense ratio: 57.3%; rating input score 57
  • Fundraising efficiency: $11.55 raised per $1 spent on fundraising; rating input score 43; 43rd 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 2.66; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 18.8%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 7.2% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 11.6% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 16.9% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 66.6% of revenue deployed · 57.3% of spending went to programs
  • Governance: 14 of 14 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $270K in reported program spending
  • Leadership: top reported pay $89K · 15 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2016 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: Program expense ratio scored 57/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 43/100.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.