Lyme Art Association Inc

Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. The rating reflects the organization's overall performance in accountability and finance, indicating some strengths as well as areas needing improvement. A score of 73 suggests that while the organization meets certain standards, it does not fully excel in its financial practices or transparency.

One significant strength of the Lyme Art Association Inc is the composition of its board, with 100% independent members. This indicates a commitment to governance and accountability, as well as a solid program expense ratio of 78.95%, which shows that a high percentage of resources are directed towards programming rather than administrative costs. Additionally, the organization maintains a strong liabilities to assets ratio of 0.81%, which suggests a favorable financial condition.

However, the rating also highlights notable limitations, particularly concerning the absence of essential policies and documents. The organization lacks a whistleblower policy and document retention policy, which are important for maintaining transparency and accountability. Furthermore, financial statements are not provided, and the tax form is missing from the nonprofit's website, which could hinder stakeholder understanding of financial health and operations.

This AI summary has been generated from information found on Charity Navigator.

Lyme Art Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lyme Art Association Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Heare are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $205,472

For more financial information, click here

Official website here: www.lymeartassociation.org