The Fine Arts Foundation

Nonprofit profile at a glance

EIN
760115712
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Houston, TX, USA
Phone
7135233511
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$13,681
Expenses
$38,061
Assets
$122,243
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JAMES P ARNOLD (PRESIDENT)

People named in this filing

  • JAMES P ARNOLD (PRESIDENT)
  • CHRISTOPHER ECHEBIRI (SECRETARY)
  • CAROL WARREN (VP/TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Our mission is to make the arts available for people so that they can appreciate their cultural value and influence. Our main emphasis is on "folk art" as expressed in music and cultural traditions, especially in the celtic and brittish isles tradition. We also have a special emphasis on assisting students and specially challenge individuals wanting to improve culturally. We support individuals and organizations providing basic assistance to such persons in order to provide a foundation on which cultural advancement may progress.

What it reported doing in 2024

Cultural education and mentoring: counseling and mentoring provided for those aspiring to improve culturally. We include a concern for specially challenged aspirants. Specially challenged, but gifted, individuals are mentored so that thier abilities are nutured and developed socially and culturally, especially by "kinesthetic learning", through movement and sports. Attention is provided to their basic needs, such as books, computer access, instuments, clothes and temporary food and shelter when required. We work closely with and contribute to organizations equiped for this service. Our support served 1000 persons.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 65% of its reported program spending out as grants.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 93
  • Accountability: 6
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.3%; rating input score 95
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -178.2%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 3.21; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 14% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 9.1% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 27.6% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.3% of spending went to programs
  • Governance: 0 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $36K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 3 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.