PLATINUM2024

Fund for the Arts Inc

The Soul of Our City

Louisville, KY   |  www.fundforthearts.org
GuideStar Charity Check

Fund for the Arts Inc

EIN: 61-0479626


Mission

The mission of the Fund for the Arts is to maximize the impact of the Arts on economic development, education and the quality of life for everyone by generating resources, inspiring excellence and creating community connections.

Notes from the nonprofit

Thank you! Thank you to our donors, community partners, board, and staff for supporting our mission. And thank you to the artists and arts and culture organizations and their support networks who work in unison with the Fund to provide More Art for More People in More Places. Together we build a stronger more connected and vibrant community to live, work and welcome visitors.

Ruling year info

1953

President and CEO

Mr. Andre Guess

Main address

623 W Main St

Louisville, KY 40202 USA

Show more contact info

EIN

61-0479626

Subject area info

Arts and culture

Population served info

Children and youth

Adults

Ethnic and racial groups

NTEE code info

Fund Raising and/or Fund Distribution (A12)

What we aim to solve

SOURCE: Self-reported by organization

Art is good food and good medicine. Through the power of art, Fund for the Arts aims to improve the health and well-being of the whole community. As reported by Americans for the Arts, arts activities increase residents’ interest in societal involvement by 86% and provide an average 20% increase in community satisfaction. Arts involvement encourages empathy, decreases distrust, and overall increases neighborhood safety, community trust, cohesion, and civic engagement. At Fund for the Arts, we believe art is a right, not a privilege. We envision a healthy and vibrant community where: EVERYONE EMBRACES the art that exist in our lives every day, EVERYONE CONTRIBUTES to the well-being of our arts community, and it is understood that EVERYONE BELONGS to the arts community.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Community Investment & Arts Services

Fund for the Arts supports the arts through providing operational and project-based grants to more than 650 schools, community arts organizations, community centers and artist (all our “Arts Partners”) across the region and directly offers a range of community arts services designed to advocate for and extend reach of the arts to the whole community. During the year ended June 30, 2018, the Fund approved and implemented a new strategic plan based on a community-wide cultural plan, “Imagine Greater Louisville 2020”. The strategic plan adopts the five strategic priorities identified by the community stakeholders: Access, Cultivation, Education, Promotion and Equity, Diversity & Inclusion (EDI). Our grants support these five strategic priorities.

The Fund also incurs direct program expenses in support of its mission including offering a range of community arts services designed to advocate for and extend the reach of the arts to the whole community. These community arts services support the five strategic priorities. Some community arts services include: Cultural Pass provides free access to many of Greater Louisville’s arts and cultural institutions during the summer months; Arts Innovation Awards fund an annual scholarships for students pursuing a career in the performing and visual arts; Art in Aging and Arts in Health; Education Awards for teachers who use arts excellence to enhance their curriculum; maintain a social media presence through Facebook, Twitter and You Tube; ArtsCARD to encourage arts patronage; "NeXt!", a leadership development program for young professionals interested in fostering corporate citizenship through volunteering and serving arts related organizations; provide capacity building workshops; and participate in other initiatives important to the success of the Arts community.

Population(s) Served
Adults

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Total dollar amount of grants awarded

This metric is no longer tracked.
Totals By Year
Population(s) Served

Artists and performers, Students, Teachers, Adults, Children and youth

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

In the past 3 years an average $5.3M in grants and programs has been invested representing an average of 82% of total expenses.

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Fund for the Arts goals are centered around three major initiatives: Arts in Institutions, Arts in Learning and Arts in Neighborhoods. By investing in these initiatives, we help build a healthy and vibrant community through the arts.
Arts in Institutions: As a United Arts Fund, since 1949, the Fund for the Arts has supported core institutions that define the city’s arts identity. Over 68% of tourism in the U.S. is driven by art. People travel from long distances to experience Louisville’s world-class arts scene.
Arts in Learning: Learning initiatives supports investment in curriculum-based arts programs in schools and other learning environments, expanding access to arts, and learning through arts, for all students. These programs address academic achievement, physical and social emotional well-being, student participation, systemic barriers, and learning loss. Research shows that students who are highly engaged in the arts are more than twice as likely to graduate college and five times less likely to drop out than their peers with no arts education.
Arts in Neighborhoods: This initiative supports programming and funding for multigenerational, multi-disciplinary residencies, projects, and events. Research shows residents in arts-rich neighborhoods are 1.6 time more connected that those without and 86% of participants in community-based art want to be involved in future projects. Arts-rich communities have 18% less serious crime and 14% fewer reports of abuse and neglect. Additionally, neighborhoods with increased community arts activities demonstrated 5-10% increases in housing, population, school test scores, and a decrease in crime.

The Fund for the Arts mission, how we create and sustain the community we envision is. . .We contribute to the overall health and well-being of our community by generating resources for, investing in, and supporting arts, artists and arts organizations. In alignment with our mission, Fund for the Arts has three strategic priorities: GENERATE RESOURCES; COMMUNITY INVESTMENT & SUPPORT; and SUPPORT. Each strategic priority has defined goals, objectives, and metrics, all of which are aligned to fulfill the Community Investment and Support Plan.

The Fund for the Arts has been a partner in supporting the nonprofit arts and culture sector since 1949. Our community partners, board, staff and volunteers continue to invest in and work to fulfill our mission of contributing to the overall health and well-being of our community by generating resources for, investing in, and supporting arts, artists and arts organizations. In the past three years, Fund for the Arts has invested $17.3M in grants and programs.

As we approach our 75th Anniversary, we look forward to continuing our legacy of investment and support. Fund for the Arts will generate the resources necessary to invest in and support our local arts, artists, and art organizations in order to ensure that we have a thriving arts community where: Everyone embraces the art that exists in our lives every day; Everyone contributes to the well-being of our arts community, and it is understood that everyone belongs to the arts community.
Fund for the Arts is one of the two oldest United Arts Funds in the country. In 1949, the founders of the Fund recognized the importance of arts to the community, and worked to raise and invest $99,000 in local arts organizations. Since then, the Fund has raised over a quarter of a billion dollars for the arts in the Greater Louisville area.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We demonstrated a willingness to learn more by reviewing resources about feedback practice.
done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We share the feedback we received with the people we serve, We tell the people who gave us feedback how we acted on their feedback, We ask the people who gave us feedback how well they think we responded

  • What challenges does the organization face when collecting feedback?

    It is difficult to get the people we serve to respond to requests for feedback, The people we serve tell us they find data collection burdensome, It is difficult to find the ongoing funding to support feedback collection

Financials

Fund for the Arts Inc
Fiscal year: Jul 01 - Jun 30

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2023 info

SOURCE: IRS Form 990

4.75

Average of 2.75 over 10 years

Months of cash in 2023 info

SOURCE: IRS Form 990

0.2

Average of 1.6 over 10 years

Fringe rate in 2023 info

SOURCE: IRS Form 990

15%

Average of 15% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Fund for the Arts Inc

Revenue & expenses

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Fund for the Arts Inc

Balance sheet

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Fund for the Arts Inc

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

This snapshot of Fund for the Arts Inc’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2019 2020 2021 2022 2023
Unrestricted surplus (deficit) before depreciation -$129,578 -$1,819,417 $1,350,934 -$177,760 -$842,090
As % of expenses -1.6% -24.0% 21.9% -2.8% -13.1%
Unrestricted surplus (deficit) after depreciation -$129,578 -$1,819,417 $1,350,934 -$177,760 -$842,090
As % of expenses -1.6% -24.0% 21.9% -2.8% -13.1%
Revenue composition info
Total revenue (unrestricted & restricted) $7,865,560 $6,160,108 $9,409,352 $6,108,558 $5,743,197
Total revenue, % change over prior year -13.8% -21.7% 52.7% -35.1% -6.0%
Program services revenue 1.0% 0.2% 0.1% 0.0% 0.0%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 1.0% 1.3% 23.7% 13.3% -5.2%
Government grants 3.9% 2.5% 2.1% 19.2% 22.8%
All other grants and contributions 93.6% 96.1% 96.6% 80.6% 72.2%
Other revenue 0.5% -0.2% -22.4% -13.1% 10.2%
Expense composition info
Total expenses before depreciation $8,074,087 $7,595,270 $6,157,154 $6,426,475 $6,442,461
Total expenses, % change over prior year 70.7% -5.9% -18.9% 4.4% 0.2%
Personnel 16.4% 17.1% 17.9% 17.5% 22.4%
Professional fees 2.6% 2.3% 3.5% 4.1% 1.0%
Occupancy 0.9% 1.0% 1.4% 1.1% 1.5%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 69.1% 67.2% 64.9% 70.2% 67.9%
All other expenses 11.1% 12.3% 12.3% 7.1% 7.2%
Full cost components (estimated) info 2019 2020 2021 2022 2023
Total expenses (after depreciation) $8,074,087 $7,595,270 $6,157,154 $6,426,475 $6,442,461
One month of savings $672,841 $632,939 $513,096 $535,540 $536,872
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $3,091 $0 $0 $9,823
Total full costs (estimated) $8,746,928 $8,231,300 $6,670,250 $6,962,015 $6,989,156

Capital structure indicators

Liquidity info 2019 2020 2021 2022 2023
Months of cash 2.0 1.8 2.7 1.0 0.2
Months of cash and investments 4.0 3.9 9.5 9.2 7.6
Months of estimated liquid unrestricted net assets 7.0 9.5 9.7 9.1 7.5
Balance sheet composition info 2019 2020 2021 2022 2023
Cash $1,359,777 $1,147,646 $1,368,685 $535,396 $112,447
Investments $1,306,462 $1,333,052 $3,500,130 $4,406,428 $3,966,723
Receivables $5,666,069 $4,409,498 $4,919,481 $4,375,636 $4,199,255
Gross land, buildings, equipment (LBE) $2,021,636 $2,111,097 $2,115,853 $2,050,784 $2,119,988
Accumulated depreciation (as a % of LBE) 70.7% 71.8% 75.1% 76.7% 77.0%
Liabilities (as a % of assets) 6.5% 12.2% 9.4% 10.9% 9.8%
Unrestricted net assets $5,317,567 $6,586,692 $5,512,622 $5,334,862 $4,492,772
Temporarily restricted net assets $2,928,542 N/A N/A N/A N/A
Permanently restricted net assets $160,000 N/A N/A N/A N/A
Total restricted net assets $3,088,542 $0 $3,892,643 $3,424,526 $3,428,648
Total net assets $8,406,109 $6,586,692 $9,405,265 $8,759,388 $7,921,420

Key data checks

Key data checks info 2019 2020 2021 2022 2023
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

President and CEO

Mr. Andre Guess

Number of employees

Source: IRS Form 990

Fund for the Arts Inc

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

Fund for the Arts Inc

Highest paid employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of highest paid employee data for this organization

Fund for the Arts Inc

Board of directors
as of 05/09/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Ms. Victoria Russell

Beam Suntory

Term: 2021 - 2023

Jim Allen

Hilliard Lyons

David Wombwell

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Linda Schuster

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Kim Halbauer

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Julia Carstanjen

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Sarah C Davasher-Wisdom

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Charles Ritter

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Edward (Ed) Glasscock

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Jonathan (Jon) D Goldberg

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Brad Keeton

Stoll Keenon Ogden PLLC

Brent McKim

Jefferson County Teacher's Association

Martin A Polio

Jefferson County Public Schools

Diane Porter

Jefferson County Board of Education

Erica Fields

Brooks Grain LLC

Paul W Thompson

LG&E and KU Energy LLC

Mark F Wheeler

Central Bank of Jefferson County

Neville Blakemore

Great Northern Building Products

Kristen Byrd

PNC Wealth Management

Carolle Jones Clay

Republic Bank

Todd Lowe

Parthenon LLC

Terry Wright

Stites & Harbison, PLLC

Charlie Farnsley

Bahe Farnsley Advisors

Althea Jackson

Louisville Metro Jackson

Justin Jackson

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Barbara Lynn Jamison

Kentucky Opera

Todd Klimek

Pricewaterhouse Coopers LLC

Mark Kull

Northwestern Mutual

Scott Schaftlein

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Mary Beth Warner

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Kellie Watson

Louisville MSD

Josh Anderson

Brown-Forman

Cleo Battle

Louisville Tourism

Karan Chavis

Artist

Wayne Davis

GE Appliances

Greg Dutton

Frost Brown Todd, LLC

Aaron Marcus

Dentons Bingham Greenebaum, LLP

Philip Poindexter

Stock Yards Bank & Trust

Greg Pope

EY

Teresa Reed

University of Louisville School of Music

Charles Ritter

KPMG LLP

Yamilca Rodridguez

Yamilca Rodriguez Consulting

Scott Schaftlein

EY

Vikki Stone

Office of Diversity, Equality & Training KY Personnel Cabinet

Carl Thomas

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Kendrick Vaughn

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Chris Whelan

LG&E KU

Nicole Yates

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Will Hollis

President, NeXt Gen

Jessica Bennett Kincaid

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John Weber

President, YPAL

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 5/9/2024

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
Black/African American
Gender identity
Male
Disability status
Person without a disability

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

Disability

No data

We do not display disability information for organizations with fewer than 15 staff.

Equity strategies

Last updated: 03/23/2023

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We review compensation data across the organization (and by staff levels) to identify disparities by race.
  • We ask team members to identify racial disparities in their programs and / or portfolios.
  • We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We disaggregate data by demographics, including race, in every policy and program measured.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We use a vetting process to identify vendors and partners that share our commitment to race equity.
  • We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We have community representation at the board level, either on the board itself or through a community advisory board.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.