Overview
What is The Fountainhead Residency Inc?
The Fountainhead Residency Inc is a renowned nonprofit organization situated in Miami, Florida. Their primary purpose is to offer a conducive and supportive environment for artists, enabling them to flourish personally and professionally. By inviting artists from various parts of the world, they provide residencies lasting up to two months. The organization accommodates around 3 to 4 artists at a time and welcomes around 30 to 40 artists annually. The residency is strategically located in the historic neighborhood of Morningside, allowing artists to escape their daily routines, seek fresh inspiration, conduct research, and create new work. The Fountainhead Residency Inc values diversity and inclusivity, serving as a platform to inspire, engage, and connect people. Artists and their work are the driving force behind their mission, which they achieve by enhancing artists' lives and careers, contributing to Miami's growing art and cultural community, collaborating with local institutions, non-profits, and businesses, and cultivating new audiences for the arts through engaging experiences, education, and unique events. The nonprofit also provides professional development and entrepreneurship education and offers low-cost studios to Miami-based artists, furthering its commitment to supporting the local art community. With a dedicated workforce of 4 individuals, The Fountainhead Residency Inc continues to foster a global network that transcends borders and contributes positively to the arts.
Official website here: www.fountainheadarts.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Star Rating)
The Fountainhead Residency Inc has achieved a solid Three-Star rating, reflecting a commendable performance in accountability and finance, with a score of 93%. The organization demonstrates a strong commitment to transparent governance, as evidenced by its fully independent board and lack of material asset diversion. However, it does have some areas needing improvement, particularly in its absence of a whistleblower policy and document retention policies.
The program expense ratio stands at 75.52%, indicating that the majority of its expenditures are directed toward its mission-driven programs, which is a positive sign for potential donors. The organization's financial health appears stable, with a low liabilities-to-assets ratio of 1.05%. This suggests effective management of its financial resources.
In terms of culture and community, the organization excels with a perfect score of 100%, showcasing its dedication to feedback collection and usage. They have established practices that likely contribute to a positive organizational atmosphere, although the identified policy gaps present opportunities for growth in governance and operational policies.
This AI summary has been generated from information found on Charity Navigator.
Is The Fountainhead Residency Inc legitimate?
The Fountainhead Residency Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Fountainhead Residency 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: $242,250
Professional Fundraising Fees: $0
Other Salaries and Wages: $135,384
For more financial information, click here
Official website here: www.fountainheadarts.org
What is the mission statement of The Fountainhead Residency Inc?
The Fountainhead Residency Inc's mission is centered around promoting diversity and inclusion, utilizing art and artists as a medium. Their objective is to enrich the lives and careers of artists, introducing international artistic inspiration to Miami's growing art and cultural scene. They collaborate with local institutions, non-profits, and businesses to support urban growth and foster a global artistic community that extends beyond borders. The organization also seeks to cultivate new audiences for the arts, offering unique experiences, education, and intimate engagements. Additionally, they provide professional development and entrepreneurship education, as well as affordable studios for local artists.
Official website here: www.fountainheadarts.org
What is the revenue of The Fountainhead Residency Inc?
The Fountainhead Residency Inc's revenue in 2023 was $1,119,621.
Official website here: www.fountainheadarts.org
Who are the executives of The Fountainhead Residency Inc and what are their salaries?
The average compensation at The Fountainhead Residency Inc during 2023 was $125,878. There are 3 employees at The Fountainhead Residency Inc.
Here are 16 key members and their salaries:
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Official website here: www.fountainheadarts.org
Where can I find the form 990 for The Fountainhead Residency Inc?
The Fountainhead Residency Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.fountainheadarts.org
Learn more at the official website: www.fountainheadarts.org
Mission Statement of The Fountainhead Residency Inc
The Fountainhead Residency, a distinguished non-profit organization, is dedicated to fostering diversity and inclusivity. Its primary aim is to uplift and motivate artists, serving as a catalyst for Miami's burgeoning art and cultural scene. The organization achieves this by importing artistic inspiration from various global sources, thereby enriching the local community. The Fountainhead also actively collaborates with local institutions, non-profits, and businesses, contributing to Miami's overall growth.
Moreover, The Fountainhead Residency seeks to build a global community that transcends borders. This global family, as the organization refers to it, continues to give back and support one another. The non-profit further endeavors to cultivate new audiences for the arts, engaging them through intimate encounters, education, and unique experiences.
To further its mission, The Fountainhead provides professional development and entrepreneurship education to artists. Additionally, it offers low-cost studios to Miami-based artists, thereby supporting their careers and contributing to the city's artistic landscape.
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Impact
July, 2024
The Fountainhead Residency Inc's impact lies in its ability to provide a safe and nurturing environment for artists to thrive personally and professionally. By welcoming artists from around the world to live and work in Miami for up to two months, the residency fosters a space for creativity, growth, and collaboration. Through hosting 3-4 artists at a time and supporting between 30-40 artists per year, The Fountainhead Residency contributes to the cultural vibrancy of Miami and enriches the local art community.
Additionally, the residency offers artists the opportunity to step out of their daily routines, seek new inspiration, conduct research, and create new work. By connecting artists with the unique individuals that make up Miami's diverse community, the residency facilitates valuable interactions and feedback from arts professionals. In doing so, The Fountainhead Residency not only supports individual artists but also contributes to the broader artistic landscape of the city.
Through its focus on valuing diversity and inclusion, The Fountainhead Residency Inc builds a global family that transcends borders and fosters connections across cultures. By collaborating with local institutions, non-profits, and businesses, the residency supports the growth and development of Miami as a hub for creativity and innovation. In providing professional development and entrepreneurship education, as well as low-cost studios for Miami-based artists, The Fountainhead Residency further strengthens the artistic ecosystem of the city.
Overall, The Fountainhead Residency Inc's impact is characterized by its commitment to enhancing the lives and careers of artists, inspiring cultural exchange, and cultivating new audiences for the arts through unique and engaging experiences.
This information is meant to be a general summary of The Fountainhead Residency Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $46,431
- Program Service Revenue: $219,692
- Gross Receipts: $1,119,621
Assets and Liabilities:
- Total Assets: $1,159,472
- Total Liabilities: $0
- Net Assets: $1,159,472
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Art sales commissions
Revenue
$110,032
Art tours
Revenue
$109,660
Organization Details
Founding Year
2018
Principal Officer
Kathryn Mikesell
Website
www.fountainheadarts.orgNTEE Category
Code: A20 - Arts
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