The Arts Federation Inc

Nonprofit profile at a glance

EIN
310942566
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Lafayette, IN, USA
Phone
7654232787
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts Council/Agency

Official website

Reported finances

Revenue
$1,027,310
Expenses
$1,015,588
Assets
$2,698,428
Liabilities
$77,845

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

Leadership & pay

20 people listed

Executive titles in this filing

  • MIKE SPRINGER (VICE PRESIDENT)
  • LAURA KENDALL (PRESIDENT)
  • CHRISTOPHER MUNT (PAST PRESIDENT)
  • LETITIA K LEE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LETITIA K LEE (EXECUTIVE DIRECTOR): $88,390 total reported compensation

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

Overview

Mission

Our mission: grow the arts: access, experience, and opportunityour vision: all individuals and communities will experience the vitality of the arts

What it reported doing in 2024

Grants: taf annually awards grants to nonprofit community and cultural organizations in 14 counties. As a grantmaker, taf administers several grant programs that award funds to qualified organizations for everything from arts program support to capital improvements.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 65% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 86
  • Accountability: 95
  • Sustainability: 51
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.2%; rating input score 73
  • Program expense ratio: 73.4%; rating input score 73
  • Fundraising efficiency: $51.13 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 88.2%; rating input score 88; 3rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 95.8%; rating input score 96; 43rd 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: 1.1%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 2.66; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 8.7%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 8.6% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 73.2% of revenue deployed · 73.4% of spending went to programs
  • Governance: 19 of 19 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $746K in reported program spending
  • Leadership: top reported pay $88K · 20 people listed
  • Consistency: 29 of 31 current checks pass · 2 findings to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 24 filed money-flow records
  • Related organizations: 23 filed related-organization links
  • 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.

  • Moderate — Sustainability: Operating margin scored 39/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.