The Ridgewood Art Institute Inc

Nonprofit profile at a glance

EIN
237171714
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Ridgewood, NJ, USA
Phone
2016529615
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Education

Official website

Reported finances

Revenue
$70,297
Expenses
$86,083
Assets
$507,571
Liabilities
$0

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

Leadership & pay

17 people listed

Executive titles in this filing

  • CARL HOLST (PRESIDENT, THRU 06/2024)
  • SUZANNE BOCHET (PRESIDENT)

People named in this filing

  • CARL HOLST (PRESIDENT, THRU 06/2024)
  • SUZANNE BOCHET (PRESIDENT)
  • REBECCA LEER (SECRETARY)

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

Promoting community interest in and developing education and skills programs for the fine arts.

What it reported doing in 2024

The organization conducts multiple art instruction and education classes to promote community interest, develop education, and skills programs in the arts. The activities conducted during the year include juried show, members' holiday show, permanent collection, rai class shows, young people's show, members' summer show, members' plein air show, plein air event, instructor show, demonstrations and art talks, rental of galleries, summer sessions, workshops, tic toc (to introduce culture to our children), and regular scheduled classes.

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 80% 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. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 93
  • Accountability: 88
  • Sustainability: 49
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89%; rating input score 89
  • Program expense ratio: 71.6%; rating input score 72
  • 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -22.5%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 5.9; rating input score 52; 52nd 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: 8.4% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: -7.8% per year; rating input score 0; 36th percentile among comparable filings
  • Asset growth: -0.1% per year; rating input score 0; 40th percentile among comparable filings

Details

  • Where the money goes: 89% of revenue deployed · 71.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $62K in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 11 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • 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 — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.