The Fine Arts Association

Nonprofit profile at a glance

EIN
340834212
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Willoughby, OH, USA
Phone
4409517500
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Professional Societies, Associations

Official website

Reported finances

Revenue
$2,592,635
Expenses
$2,893,397
Assets
$5,581,179
Liabilities
$542,782

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

Leadership & pay

24 people listed

Executive titles in this filing

  • PAUL HOLM (FORMER CEO)
  • ERIC BARBE (PRESIDENT)

Highest reported compensation

  • PAUL HOLM (FORMER CEO): $121,622 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: create and discover beauty to foster a community empowered by the arts. This reflects our highest aspirations for our organization as we strive for artistic excellence and represents the pedagogical principal in all our educational programs and performances. We use this statement provocatively understanding that the word beauty is a subjective concept. Yet we see beauty in much more than the art itself. We see beauty in the process of creation and discovery. We see beauty when a child learns how to make their first sound on a flute or paints their first picture. We see beauty when a previously shy student can deliver their first lines on stage. We see beauty when a child struggling with emotional or communication challenges can positively express themselves and what they feel through music or art therapy. We see beauty in the inspiration our students, teachers, performers, and clients provide and the aspirations they hold onto firmly. We see beauty in everyone and the pote

What it reported doing in 2024

The fine arts association (faa) was founded in 1957 to bring quality arts programming to northeast Ohio. Our professional faculty of teaching artists provide instruction in visual arts, music, dance and theatre through classes and private lessons, both onsite and offsite. During the summer months, camps are offered in many disciplines. Students are given the opportunity to perform at recitals and share days throughout the year. Additionally, faa offers group and individual services in both music and arts therapies along with adapted programming and specialized workshops. Off-site creative arts therapies services are available to preschools, private/public schools, nursing homes, hospitals, and other community-based agencies, tailored to their specific needs. Over 1,800 people of all ages currently participate in our education and creative arts therapies programs. Faa produces four theatre productions each year, with at least one geared towards families. One performance of each production is sensory-friendly. We offer a series of free performances featuring our faculty along with community musicians. There are concerts throughout the year by both our community chorus and community wind ensemble and we host "tuba christmas" each december involving musicians from across the region. We also produce other dance showcases in the winter and spring attracting hundreds of family and community members. Annually, more than 14,000 people are reached through our various recitals and performances.

Operating model

Revenue model
Earned-program. 74% 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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.2%; rating input score 90
  • Fundraising efficiency: $3.04 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 8 of 8 controls in place; rating input score 100
    • 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: Pass

Sustainability

  • Operating margin: -11.6%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 1.93; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 4.2%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: 5.3% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 1.6% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.2% of spending went to programs
  • Governance: 23 of 23 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.6M in reported program spending
  • Leadership: top reported pay $122K · 24 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 9/100.
  • High — Sustainability: Operating margin scored 12/100.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.
  • Review — Sustainability: Officer compensation ratio scored 59/100.