Venetian Arts Society Inc

Nonprofit profile at a glance

EIN
453123931
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Fort Lauderdale, FL, USA
Phone
9547097447
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Centers

Reported finances

Revenue
$200,256
Expenses
$197,172
Assets
$4,970
Liabilities
$0

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

Leadership & pay

1 person listed

Executive titles in this filing

  • William Riddle (Executive Director)

Highest reported compensation

  • William Riddle (Executive Director): $14,400 total reported compensation

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

Overview

Mission

GENVAS, Generation Venetian Arts Society, is committed to nurturing the emotional, mental, & spiritual well-being of all people through purposeful, thought provoking, & enlightening artistic experiences while simultaneously celebrating the multi-cultural and inter-generational diversity of the SFL community. Our collaborative projects are educational & social art experiences that promote intimate & interactive participation with the audience.

What it reported doing in 2024

South Florida Journeys - Developed in 2024, South Florida Journeys (SFJ) employs video storytelling to explore the people, places, & programs across all sectors that make our community dynamic. The need for this programming is varied. Broward offers a quality lifestyle; promotes entrepreneurism & encourages economic development. Neighborhoods are diverse & locals are engaging w/ inspiring stories worth telling. Today, societal & governmental constructs, designed to offer safety nets & services, are being curtailed or eliminated creating stressors & fear. In 2024, the CDC reported 1 in 5 adults experienced symptoms of anxiety & depression. Deaths from drugs, alcohol, & suicide more than doubled between 2000 - 2017 & continue to rise. Environmental concerns challenge us & WLRN reported that more than 1.2M SFL people are facing food insecurity. Video storytelling provides a cost effective way to quickly spread good news, information, assistance, & hope. Our project provides collaborative opportunities between a large number of SFL corporations, individuals, institutions, & organizations. Each video focuses on a specific topic aimed at the general population or subsegments. Emphasis will be placed on including nonprofits with low annual budgets. A sister project to FSFWL, SFJ will go into production in 2025 & debut in 2026.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 34
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.6%; rating input score 87
  • Program expense ratio: 88%; rating input score 88
  • 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: 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 1.5%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 7.3%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: -14.9% per year; rating input score 0; 8th percentile among comparable filings
  • Revenue growth: 17.8% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 56.3% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 86.6% of revenue deployed · 88% of spending went to programs
  • Governance: 2 of 2 board members independent · 3 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $173K in reported program spending
  • Leadership: top reported pay $14K · 1 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.