Western Virginia Foundation for the Arts and Sciences

Nonprofit profile at a glance

EIN
510238900
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Roanoke, VA, USA
Phone
5403425700
Rating
91
Verdict
STRONG
Rating confidence
Standard
Sector
Arts Service Organizations and Activities

Official website

Reported finances

Revenue
$3,704,666
Expenses
$4,818,055
Assets
$31,727,554
Liabilities
$925,116

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

Leadership & pay

25 people listed

Highest reported compensation

  • TARA MARCINIAK (PRES/GEN MGR): $132,210 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 be an active participant in economic development and education, both locally and regionally, by helping assure the financial health of vital elements of western and central Virginia's cultural quality of life.

What it reported doing in 2024

To support the acquisition and operation of cultural facilities for various non-profit organizations and to support economic development in western Virginia

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 100
  • Accountability: 95
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 84.8%; rating input score 85
  • Fundraising efficiency: $5.96 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -30.1%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 6.59; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 2.7%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 84.8% of spending went to programs
  • Governance: 24 of 24 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $4.1M in reported program spending
  • Leadership: top reported pay $132K · 25 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 6 filed schedules · includes major donors and related organizations
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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 22/100.
  • High — Sustainability: Operating margin scored 4/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.