Richmond Area Arts Council Inc

Charity Navigator Rating: 0 Stars (43%)

The Richmond Area Arts Council Inc has received a Zero-Star out of Four Star rating from Charity Navigator, primarily due to its low Accountability & Finance score of 43%. This rating indicates significant concerns regarding the organization's financial management and accountability practices. Specifically, while the council has a fully independent board and no material diversion of assets, it is lacking in several key policies that are essential for good governance.

Strengths noted include a fully independent board and compliance in areas such as the posting of board meeting minutes and the listing of its website on tax forms. However, the absence of a conflict of interest policy and a document retention policy poses significant risks regarding transparency and accountability. Additionally, the organization has a low program expense ratio of 47.95%, which indicates that less than half of its expenses are directed towards its programs, raising questions about resource allocation.

Overall, while the Richmond Area Arts Council displays some solid governance practices, the gaps in its policies and financial metrics highlight areas that need improvement. Potential donors and supporters should consider these factors carefully before contributing.

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

Richmond Area Arts Council Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Richmond Area Arts Council 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: $47,681
Professional Fundraising Fees: $0
Other Salaries and Wages: $10,306

For more financial information, click here

Official website here: www.artsinrichmond.org