Vineyard Arts and Culture Foundation Inc

Nonprofit profile at a glance

EIN
845107238
IRS 990 coverage
2022–2023
Forms available
Form 990 2023, Form 990-EZ 2021
Location
Chicago, IL, USA
Phone
4135284800
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$8,688,894
Expenses
$9,965,131
Assets
$1,396,437
Liabilities
$2,037,042

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • ADAM EPSTEIN (PRESIDENT)
  • JOE KOSIN (VICE PRESIDENT)

Highest reported compensation

  • BEN DEFOREST (CLERK): $60,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The vineyard arts and culture foundation celebrates and promotes the martha's vineyard community through the creation and curation of engaging events that bring people together to share enriching cultural experiences. The foundation's revenues, generated via these events, are invested in island organizations that advance the arts, education, philanthropy and recreation through grants and charitable giving.

What it reported doing in 2023

From june 10 through october 19, 2023, vacf produced 16 events in various venues entertaining crowds of as few as 150 to as many as 27,000 with a total attendance of 35,810.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 30
  • Sustainability: 16
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.8%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 33.3%; rating input score 33; 7th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -14.7%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 0.14; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 1.46; rating input score 2; 2nd percentile among comparable filings
  • Officer compensation ratio: 0.6%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 50.1% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 82.9% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 43.5% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.8% of spending went to programs
  • Governance: 1 of 3 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $9.8M in reported program spending
  • Leadership: top reported pay $60K · 3 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2022 to 2023
  • 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.

  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 2/100.