Virginia Beach Art Center Inc

Nonprofit profile at a glance

EIN
813864481
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-N 2017
Location
Virginia Beach, VA, USA
Phone
7574181070
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Education

Official website

Reported finances

Revenue
$511,034
Expenses
$515,596
Assets
$543,067
Liabilities
$7,171

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Rob Fine (President)
  • Kay Hoffler (Vice President)
  • Jody Wagner (Vice President)
  • Margaret Foltz (Executive Director)

People named in this filing

  • Rob Fine (President)
  • Kay Hoffler (Vice President)
  • Jody Wagner (Vice President)

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

The mission is to offer an educational and supportive environment to inspire people of all ages and skill levels to experience, engage with and create art.

What it reported doing in 2024

Classes were conducted for Art and Pottery

Operating model

Revenue model
Earned-program. 63% of the money available for current operations came from fees and other program 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 83
  • Accountability: 88
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.8%; rating input score 65
  • Program expense ratio: 62.7%; rating input score 63
  • Fundraising efficiency: $7.65 raised per $1 spent on fundraising; rating input score 29; 29th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th 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: 100%; rating input score 100; 63rd 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: -0.9%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 1.05; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 28.7% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 14.1% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 12.3% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 64.8% of revenue deployed · 62.7% of spending went to programs
  • Governance: 21 of 21 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $323K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Fundraising efficiency scored 29/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.