Tapestry Folkdance Center

Nonprofit profile at a glance

EIN
411459618
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Minneapolis, MN, USA
Phone
6127222914
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$346,540
Expenses
$381,322
Assets
$561,099
Liabilities
$46,713

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Sherisa Oie (Executive Director)
  • Hollie Benton (Board President)
  • Judine Pattinson (Vice President)

Highest reported compensation

  • Sherisa Oie (Executive Director): $59,546 total reported compensation

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

Overview

Mission

Tapestry Folkdance Center's mission is "Tapestry Folkdance Center welcomes all to participate in the joy of dance and music from a variety of cultural traditions."

What it reported doing in 2024

The largest program at Tapestry Folkdance Center (Tapestry) is weekly dances. Tapestry hosts weekly dances in a variety of styles, including Contra, International, English County, and Ballroom. In this fiscal year, Tapestry hosted over 200 dances. On a typical weekend, 100-200 people participated in weekly dances. Tapestry also hosted monthly dances including a dance for seniors. Most dances include instruction.

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 96% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 89
  • Accountability: 79
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.1%; rating input score 77
  • Program expense ratio: 69.8%; rating input score 70
  • Fundraising efficiency: $37.81 raised per $1 spent on fundraising; rating input score 71; 71st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • 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: -10%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 1.47; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 15.6%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 11.7% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 77.1% of revenue deployed · 69.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $266K in reported program spending
  • Leadership: top reported pay $60K · 12 people listed
  • Consistency: 41 of 42 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 22/100.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.