Fabarts INC EIN 86-3480344 Form 990 (PDF) Claim this org

Fabarts INC

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Promotes arts education and public enjoyment through events, fundraising, and support for schools. For fiscal year 2024 it reported $465K in revenue, $347K in expenses, and $334K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Columbus, GA
Filings
1 on file (2024–2024)
Revenue
$465KFY2024
Expenses
$347K
Net assets
$334K
People
3
Filings
1
Updates
0
More identity details & actions ⌄
EIN  86-3480344 Public charity (501(c)(3)) Columbus, GA
Form 990 (PDF)
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Size
$100K–1M
What they do
Promotes arts education and public enjoyment through events, fundraising, and support for schools.
Leadership
T Fredrick McKnight · President · $64K
Money in and out
$465K revenue, $347K expenses
Bottom line
49% program efficiency
Where the money goes · FY2024
Total revenue
$465K
Pt VIII · Ln 12
Total expenses
$347K
Pt IX · Ln 25
Net assets
$334K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $117K
Where spending went · Part IX cols B–D
Program services $0.49 Management & general $0.32 Fundraising $0.19
Program efficiency
49%
of spending reaches programs
Operating runway
11.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
+25%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total revenue
$465K
Pt VIII · Ln 12
Total expenses
$347K
Pt IX · Ln 25
Net assets
$334K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$117K
Total assetsPt X · Ln 16$334K
Program-expense ratioPt IX · col B49%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service account for $170K of program spending, described in the organization's own filed words · FY2024.
01

A) To encourage corporation and free intercourse among artists, art teachers, art students, and others engaged in artistic activities; and to promote the study and improvement of the arts.B) To promote means and opportunities for the education of the public with respect to the study and culture of drama, music and arts, and the enjoyment…

$170Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFabarts INC
EINHdr · item D86-3480344
Principal addressHdr · item CColumbus, GA
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MGA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A25)
Ruling yearIRS BMFSep 2024

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$64,336Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants100%$465K
Total revenueLn 12$465K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.49 Management & general $0.32 Fundraising $0.19
Program services49%$170K
Management & general32%$112K
Fundraising19%$65K
Total functional expensesLn 25$347K

Balance Sheet

Part X · end of year
CashLn 1$333K
Total assetsLn 16$334K
Total liabilitiesLn 26$0
Total net assetsLn 32$334K
Months of cash on handcomputed11.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $333K · Operating expenses/yr $347K
11.5 months
Where the money goes
Program services
Program services $170K · Total expenses $347K
49%
Management & General
Management & general $112K · Total expenses $347K
32%
Fundraising
Fundraising $65K · Total expenses $347K
19%
Cost to raise $1
Fundraising expense $65K · Solicited contributions $465K
$0.14 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $465K · Total revenue $465K
100%
Government reliance
Government grants — · Total revenue $465K
Earned-income share
Program service revenue $0 · Total revenue $465K
0%
Investment reliance
Investment income $0 · Total revenue $465K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $347K
0%
Growth & trend
Revenue growth (YoY)
This year $465K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $334K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $465K · Expenses $347K
+25%
Liabilities-to-Assets
Total liabilities — · Total assets $334K
Net-asset ratio
Net assets $334K · Total assets $334K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $334K
0%
People & payroll
Highest Reported Total Compensation
Individual T Fredrick McKnight · Reported title President · Highest reported compensation $64K · Total expenses $347K
19%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $70K · Total expenses $347K
20%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 49%
Overhead ratio 32%
Fundraising cost ratio 14%
Investment management fee ratio 0%
Legal fee ratio 0.7%
Accounting fee ratio 0%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$26K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$465K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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