Triad Cultural Arts Inc

Nonprofit profile at a glance

EIN
261170872
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2019
Location
Winston Salem, NC, USA
Phone
3362831709
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Cultural, Ethnic Awareness

Reported finances

Revenue
$430,698
Expenses
$613,929
Assets
$285,240
Liabilities
$75,000

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

Leadership & pay

16 people listed

Executive titles in this filing

  • ABREA ARMSTRONG (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ABREA ARMSTRONG (EXECUTIVE DIRECTOR): $65,000 total reported compensation
  • CHERYL HARRY (PROGAM MANAGER): $28,069 total reported compensation
  • TEDDY REAVES (BOARD MEMBER): $9,075 total reported compensation

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

Overview

Mission

Triad cultural arts tca is a community based multi-disciplinary cultural arts organization and a leader in bringing recoginition to black american histiory and culture. Tca is dedicated to presenting programming that contributes to a culturally competent community

What it reported doing in 2024

Cultural preservation - providing culturally immersive experiences that includes heritage tours interactive online and in-person exhibitions and exhibit the heritage of black americans for all people

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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: 85
  • Transparency & Controls: 85
  • Accountability: 29
  • Sustainability: 14
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.3%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th 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: 18.2%; rating input score 18; 14th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -42.5%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 0.46; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 20.1%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 58.3% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 23% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 23.6% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87.3% of spending went to programs
  • Governance: 2 of 11 board members independent · 4 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $536K in reported program spending
  • Leadership: top reported pay $65K · 16 people listed
  • Highest-paid contractors: 1 contractor listed · $273K reported
  • Consistency: 39 of 41 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 9 filed money-flow records
  • 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 — Accountability: Independent voting board scored 18/100.
  • Moderate — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.