Southcoast Opportunities for Artisans and Makers

Nonprofit profile at a glance

EIN
931993655
IRS 990-EZ coverage
2023–2024
Forms available
Form 990-EZ 2024
Location
Somerset, MA, USA
Phone
5085675761
Rating
96
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$197,376
Expenses
$200,558
Assets
$11,832
Liabilities
$8,691

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Allison Faunce (President)
  • Danny Medeiros (Vice President)

People named in this filing

  • Allison Faunce (President)
  • Danny Medeiros (Vice President)
  • Erin Raffa (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

In 2024, SOAM (Southcoast Opportunities for Artisans and Makers) advanced its mission to uplift local creative entrepreneurs through three cornerstone initiatives: SOAM's core programs, Art Pop, and Foodchella. Collectively, these programs supported and showcased over 1200 individuals throughout the Southcoast region.

What it reported doing in 2024

Foodchella, SOAM's flagship culinary festival, spotlighted over 30 local food vendors, promoting regional culinary talent and fostering vibrant community engagement. SOAM's Saturday Markets showcased and provided retail opportunities to over 500 local small businesses, artisans, makers, nonprofits, and food vendors through our monthly pop-up marketplace. Across all programs, SOAM provided access to resources, creative development, and inclusive platforms that prioritize equity and sustainability in the arts and small business ecosystems.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 100
  • Sustainability: 20
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.7%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -1.6%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.06; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.73; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 4.2%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 40.3% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 13.4% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 7.8% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.7% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $200K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2023 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.

  • High — Sustainability: Operating margin scored 29/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.