Rockport Art Association Inc
Nonprofit profile at a glance
- EIN
- 741652612
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Rockport, TX, USA
- Phone
- 3617295519
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts Council/Agency
Reported finances
- Revenue
- $1,876,468
- Expenses
- $2,467,430
- Assets
- $13,993,552
- Liabilities
- $255,256
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- LARRY BEAVERS (PAST PRESIDENT)
- TRACY BENNETT (VICE PRESIDENT)
- SANDY D'IMPERIO (PRESIDENT)
- LUCY NYE (VICE PRESIDENT)
- STAN SMITH (PAST PRESIDENT)
- LUIS PURON (EXECUTIVE DIRECTOR)
Highest reported compensation
- LUIS PURON (EXECUTIVE DIRECTOR): $130,000 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 purpose is to promote cultural enrichment and art education in the community as a whole and especially cultural tourism, by establishing Rockport and the Rockport Center for the Arts as a major art destination for visitors.
What it reported doing in 2024
Cultural enrichment and promotion of arts through exhibits, sculpture garden, performances, touring artist, venue for sales by artists and college scholarships for art majors. Construction of new facilities to continue mission.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 70
- Transparency & Controls: 81
- Accountability: 90
- Sustainability: 42
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 79.9%; rating input score 80
- Program expense ratio: 59.3%; rating input score 59
- Fundraising efficiency: $14.81 raised per $1 spent on fundraising; rating input score 50; 50th percentile among comparable filings
Transparency & Controls
- Consistency checks: 85.7%; rating input score 86; 2nd 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: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- 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: -31.5%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 5.67; rating input score 86; 86th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 63; 63rd percentile among comparable filings
- Officer compensation ratio: 5.3%; rating input score 52; 52nd percentile among comparable filings
Growth
- Program expense growth: 9.4% per year; rating input score 100; 61st percentile among comparable filings
- Revenue growth: 8.9% per year; rating input score 100; 63rd percentile among comparable filings
- Asset growth: 15.5% per year; rating input score 100; 74th percentile among comparable filings
Details
- Where the money goes: 79.9% of revenue deployed · 59.3% of spending went to programs
- Governance: 14 of 14 board members independent · 6 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $1.5M in reported program spending
- Leadership: top reported pay $130K · 15 people listed
- Consistency: 32 of 34 current checks pass · 2 findings to review
- Schedules: 6 filed schedules · includes major donors
- Filing history: 11 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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 59/100.
- Review — Financial Efficiency: Fundraising efficiency scored 50/100.
- High — Sustainability: Operating margin scored 6/100.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
- Review — Sustainability: Officer compensation ratio scored 52/100.