Storyark

Nonprofit profile at a glance

EIN
813780329
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021, Form 990-N 2017
Location
Minneapolis, MN, USA
Phone
6513510804
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Education

Reported finances

Revenue
$388,071
Expenses
$355,588
Assets
$150,179
Liabilities
$1,941

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

Leadership & pay

7 people listed

Highest reported compensation

  • MEGHAN BRIDGES (EXECUTIVE DI): $71,046 total reported compensation

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

Overview

Mission

Storyark provides a variety of creative programming for youth, allowing them to tell their story through their chosen medium - whether that be a novel, poetry, film, song, podcast or anything else they can dream up. Student inspired, relationship driven, community supported, and inter- generational in its leadership, storyark provides a safe place for students to challenge themselves, spark their imaginations and learn about the art of storytelling. Through storyark, students in grades six through twelve pursue their passion for storytelling through classes, workshops, writing clubs and a literary journal while developing communication, collaboration and leadership skills.

What it reported doing in 2024

1. Provide educational opportunities, training, and mentorship regarding the art of storytelling. 2. Provide an opportunity to develop the art of storytelling within and between diverse communities. 3. Support the art of storytelling to local communities through various mediums by enabling platforms that provide an opportunity for stories to be heard. 4. Provide facilities, administrative services, coordination, facilitation and other support functions to carry out the operations to individuals and organizations.

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. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.9%; rating input score 61
  • Program expense ratio: 66.4%; rating input score 66
  • Fundraising efficiency: $5.08 raised per $1 spent on fundraising; rating input score 22; 22nd 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8.4%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 20%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 1.5% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 20.3% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 13.5% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 60.9% of revenue deployed · 66.4% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $236K in reported program spending
  • Leadership: top reported pay $71K · 7 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 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.

  • High — Financial Efficiency: Fundraising efficiency scored 22/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.