Varsity Center for the Arts Inc

Nonprofit profile at a glance

EIN
263867053
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Carbondale, IL, USA
Phone
6184575353
Rating
54
Verdict
MIXED
Rating confidence
Moderate
Sector
Performing Arts Centers

Reported finances

Revenue
$330,098
Expenses
$115,500
Assets
$544,773
Liabilities
$1,491

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

Leadership & pay

13 people listed

Executive titles in this filing

  • ARMEN ASATURIAN (Vice President)
  • BILL ROBBINS (President)

Highest reported compensation

  • CARA RECINE (Executive Dir.): $24,000 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 enhance the cultural opportunities for the citizens of carbondale and the southern Illinois region by providing a public art venue for the community and the region.

What it reported doing in 2024

Various cultural events for the citizens of carbondale and the southern Illinois region.

Operating model

Revenue model
Grant-funded. 70% of the money available for current operations came from government grants.
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

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 45
  • Transparency & Controls: 90
  • Accountability: 0
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 29.8%; rating input score 30
  • Program expense ratio: 85%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 65%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 4.72; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 20.8%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 7.6% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 12.8% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 64th percentile among comparable filings

Details

  • Where the money goes: 29.8% of revenue deployed · 85% of spending went to programs
  • Governance: 0 of 11 board members independent · 0 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $98K in reported program spending
  • Leadership: top reported pay $24K · 13 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.