The Cowles Center

Nonprofit profile at a glance

EIN
271173436
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-N 2009
Location
Minneapolis, MN, USA
Phone
6122063636
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Centers

Official website

Reported finances

Revenue
$758,556
Expenses
$1,286,065
Assets
$500,112
Liabilities
$78,652

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

Leadership & pay

5 people listed

Executive titles in this filing

  • L Kelley Lindquist (President)
  • Stacey Mickelson (Vice President)

Highest reported compensation

  • L Kelley Lindquist (President): $295,535 total reported compensation
  • Will Law (Treasurer): $226,348 total reported compensation
  • Beth Chalmers (Chief Financial Officer): $184,843 total reported compensation

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

Overview

Mission

To provide a home for the local dance company and work as an advocate for these artists by providing a professional environment with opportunities for them to refine and perform their work.

What it reported doing in 2024

Facilities Program: The facilities program at The Cowles Center supports the performing arts community by providing performance, rehearsal/studio, and administrative office space at 40% below market value for 20 area nonprofit dance and performing arts organizations, including two of Minnesota's leading dance schools, and a network of independent artists and choreographers.

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 82% 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. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 95
  • Transparency & Controls: 71
  • Accountability: 37
  • Sustainability: 15
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.2%; rating input score 91
  • Fundraising efficiency: $82.49 raised per $1 spent on fundraising; rating input score 84; 84th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -69.5%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.39; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 42; 42nd percentile among comparable filings

Growth

  • Program expense growth: -2.4% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -7.2% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -3.8% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.2% of spending went to programs
  • Governance: 0 of 4 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $1.2M in reported program spending
  • Leadership: top reported pay $296K · 5 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.
  • Moderate — Sustainability: Officer compensation ratio scored 42/100.