Civic Intelligence

The Fine Arts Association

EIN 34-0834212 • 501(c)3 • Willoughby, OH

Profile

The fine arts association serves the community by enhancing lives through arts education, therapies, performance, community partnerships and advocacy.

38660 Mentor AveWilloughby, OH 44094

www.fineartsassociation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

52nd percentile

0.14x

Higher debt load relative to assets than 52% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

65th percentile

0.30x

Higher debt load relative to revenue than 65% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

19th percentile

-11%

Higher net margin than 19% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

43rd percentile

2.6%

Faster asset growth than 43% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2024

Revenue Growth

78th percentile

30%

Faster revenue growth than 78% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2024

Assets

Down

$6,114,923

Down $371,097 (-5.7%) from 2023

Liabilities

Down

$840,876

Down $378,751 (-31%) from 2023

Net Assets

Up

$5,274,047

Up $7,654 (+0.1%) from 2023

Revenue

Up

$2,777,326

Up $290,270 (+12%) from 2023

Expenses

Up

$3,083,187

Up $566,591 (+23%) from 2023

Net Income

Down

-$305,861

Down $276,321 (-935%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $3,412,457Liabilities 2010: $183,454Net Assets 2010: $3,229,0032010Assets 2011: $3,652,102Liabilities 2011: $129,798Net Assets 2011: $3,522,3042011Assets 2012: $4,003,222Liabilities 2012: $157,616Net Assets 2012: $3,845,6062012Assets 2013: $4,427,294Liabilities 2013: $146,576Net Assets 2013: $4,280,7182013Assets 2014: $4,591,228Liabilities 2014: $165,480Net Assets 2014: $4,425,7482014Assets 2015: $5,677,718Liabilities 2015: $200,998Net Assets 2015: $5,476,7202015Assets 2016: $6,372,275Liabilities 2016: $191,432Net Assets 2016: $6,180,8432016Assets 2017: $6,719,542Liabilities 2017: $240,314Net Assets 2017: $6,479,2282017Assets 2018: $6,586,172Liabilities 2018: $175,676Net Assets 2018: $6,410,4962018Assets 2019: $6,621,737Liabilities 2019: $239,992Net Assets 2019: $6,381,7452019Assets 2020: $6,475,358Liabilities 2020: $396,871Net Assets 2020: $6,078,4872020Assets 2021: $6,805,041Liabilities 2021: $449,862Net Assets 2021: $6,355,1792021Assets 2022: $5,808,862Liabilities 2022: $494,234Net Assets 2022: $5,314,6282022Assets 2023: $6,486,020Liabilities 2023: $1,219,627Net Assets 2023: $5,266,3932023Assets 2024: $6,114,923Liabilities 2024: $840,876Net Assets 2024: $5,274,0472024

Highlighted filing

2024

Assets$6,114,923
Liabilities$840,876
Net Assets$5,274,047

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,514,7422010Expenses 2011: $1,478,5522011Expenses 2012: $1,609,9872012Expenses 2013: $1,651,3242013Revenue 2014: $1,827,986Expenses 2014: $1,739,317Net Income 2014: $88,6692014Revenue 2015: $2,783,659Expenses 2015: $1,727,552Net Income 2015: $1,056,1072015Revenue 2016: $2,622,702Expenses 2016: $1,876,629Net Income 2016: $746,0732016Revenue 2017: $2,007,463Expenses 2017: $1,830,890Net Income 2017: $176,5732017Revenue 2018: $1,723,600Expenses 2018: $1,934,503Net Income 2018: -$210,9032018Revenue 2019: $1,800,991Expenses 2019: $1,895,363Net Income 2019: -$94,3722019Revenue 2020: $1,750,900Expenses 2020: $2,041,420Net Income 2020: -$290,5202020Revenue 2021: $1,367,391Expenses 2021: $1,844,515Net Income 2021: -$477,1242021Revenue 2022: $1,634,832Expenses 2022: $2,218,387Net Income 2022: -$583,5552022Revenue 2023: $2,487,056Expenses 2023: $2,516,596Net Income 2023: -$29,5402023Revenue 2024: $2,777,326Expenses 2024: $3,083,187Net Income 2024: -$305,8612024

Highlighted filing

2024

Revenue$2,777,326
Expenses$3,083,187
Net Income-$305,861

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.11$0.84$5.27$2.78$3.08$0.31
2023Detailed filing. Detailed filing data is available for this year.$6.49$1.22$5.27$2.49$2.52$0.03
2022Detailed filing. Detailed filing data is available for this year.$5.81$0.49$5.31$1.63$2.22$0.58
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.81$0.45$6.36$1.37$1.84$0.48
2020Detailed filing. Detailed filing data is available for this year.$6.48$0.40$6.08$1.75$2.04$0.29
2019Detailed filing. Detailed filing data is available for this year.$6.62$0.24$6.38$1.80$1.90$0.09
2018Detailed filing. Detailed filing data is available for this year.$6.59$0.18$6.41$1.72$1.93$0.21
2017Detailed filing. Detailed filing data is available for this year.$6.72$0.24$6.48$2.01$1.83$0.18
2016Detailed filing. Detailed filing data is available for this year.$6.37$0.19$6.18$2.62$1.88$0.75
2015Detailed filing. Detailed filing data is available for this year.$5.68$0.20$5.48$2.78$1.73$1.06
2014Detailed filing. Detailed filing data is available for this year.$4.59$0.17$4.43$1.83$1.74$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.43$0.15$4.28$1.65
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.00$0.16$3.85$1.61
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.65$0.13$3.52$1.48
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.41$0.18$3.23$1.51
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Aug 1, 2023 to Jul 31, 2024
Signed
Jun 7, 2025
Return Version
2023v6.0
Gross Receipts
$2,777,326
Mission and Program Overview

Mission

The fine arts association serves the community by enhancing lives through arts education, therapies, performance, community partnerships and advocacy.

Our mission: create and discover beauty to foster a community empowered by the arts. This reflects our highest aspirations for our organization as we strive for artistic excellence and represents the pedagogical principal in all our educational programs and performances. We use this statement provocatively understanding that the word beauty is a subjective concept. Yet we see beauty in much more than the art itself. We see beauty in the process of creation and discovery. We see beauty when a child learns how to make their first sound on a flute or paints their first picture. We see beauty when a previously shy student can deliver their first lines on stage. We see beauty when a child struggling with emotional or communication challenges can positively express themselves and what they feel through music or art therapy. We see beauty in the inspiration our students, teachers, performers, and clients provide and the aspirations they hold onto firmly. We see beauty in everyone and the pote

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,045,117$3,173,163▲ $128,046
Investments in Publicly Traded Securities$2,003,832$2,095,580▲ $91,748
Cash and Non-Interest-Bearing Accounts$448,046$165,858▼ $282,188
Accounts Receivable$165,855$117,101▼ $48,754
Intangible Assets$34,271--
Prepaid Expenses and Deferred Charges$32,414$7,578▼ $24,836
Savings and Temporary Cash Investments$258,782$120▼ $258,662
Total Assets$6,486,020$6,114,923▼ $371,097
Other Assets Total$497,703$555,523▲ $57,820
Liabilities
Mortgage Notes Payable Secured by Investment Property$142,046$334,378▲ $192,332
Deferred Revenue$622,807$264,718▼ $358,089
Accounts Payable and Accrued Expenses$420,502$241,780▼ $178,722
Other Liabilities$34,272--
Total Liabilities$1,219,627$840,876▼ $378,751
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,632,696$3,241,205▼ $391,491
Net Assets With Donor Restrictions$1,633,697$2,032,842▲ $399,145
Total Net Assets Fund Balance$5,266,393$5,274,047▲ $7,654
Total Liabilities and Net Assets / Fund Balance$6,486,020$6,114,923▼ $371,097

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,980,093$2,682,583$5,662,676
Equipment$129,599$337,366$466,965
Other Land Buildings$35,053$132,505$167,558
Land$28,418-$28,418
Other Assets Org$555,523--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$1,212,522-▲ $145,342$-100,752$1,233,868
2022----$1,212,522
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Paul HolmCEOFT$96,379$10,488$106,867

Board Members and Trustees

NameTitle
Eric BarbePresident
Ali PhelpsDirector
Betty JacobsDirector
Brian FifeDirector
Eleni VosickyDirector
Elia De La GarzaDirector
Emily ZocchiDirector
Erica WigtonDirector
Heidi BaldwinDirector
Jack KapalkaDirector
Jane Densmore StegerDirector
Jesse StylesDirector
John RogersDirector
Laurie PrincipeDirector
Michael CaronchiDirector
Randall SharpeDirector
Robin HopkinsDirector
Roy SmithDirector
Stephen BaumDirector
Teresa ReidDirector
David StegerSecretary
Michael LaurioTreasurer
Noelle SieradzkiVice Pres
Revenue and Support

Revenue Composition

Contributions and Grants
$948,561
Program Service Revenue
$1,783,701
Investment Income
$17,568
Other Revenue
$27,496
All Other Contributions
$470,895
Change in Net Assets
$-305,861

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,777,326
Revenue Not Reported on Form 990
$168,315
Total Revenue per Audited Statements
$2,945,641
Total Revenue per Form 990
$2,777,326
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,173,437
Other Expenses$909,750
Total Fundraising Expense$169,013
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,618,363$66,510$92,950$1,777,823
Occupancy$207,256$13,572$16,062$236,890
Payroll Taxes$157,019$11,439$7,189$175,647
Fees for Services Other$100,915$49,751$1,326$151,992
Depreciation Depletion$102,386$29,253$14,626$146,265
Office Expenses$53,903$46,632$18,724$119,259
Other Employee Benefits$96,488$10,997$8,860$116,345
Current Officers, Directors, Trustees, and Key Employees$56,658$46,964-$103,622
Insurance$24,600$3,766$1,883$30,249
Fees for Service Investment Mgmnt Fees-$20,355-$20,355
Interest$20,270--$20,270
Travel$193$4,017$754$4,964
Other Expenses$1,464$-6,609$6,639$-6,609
Total Functional Expenses$2,598,556$315,618$169,013$3,083,187

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,083,187
Expenses per Audited Statements$3,062,832
Total Expenses per Audited Statements$3,062,832
Expenses Not Reported on Financial Statements$20,355
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

David steger jane densmore steger director director spousal

Form 990, Page 6, Part VI, Line 11B

The organizations' process is to furnish the governing body with a copy of the 990 for review and discussion before filing.

Form 990, Page 6, Part VI, Line 12C

Each year board members are required to sign the conflict of interest policy and make known any conflicts of interest.

Form 990, Page 6, Part VI, Line 15A

Comparisons and analysis were made by the employee review committee of the board of directors.

Form 990, Page 6, Part VI, Line 19

Management has made available upon request.

Filing and Contact Details

Filer

Filer Name
The Fine Arts Association
EIN
34-0834212
Phone
4409517500
Address
38660 MENTOR AVE, WILLOUGHBY, OH 44094

Signing Officer

Name
Paul Holm
Title
CEO
Phone
4409517000
Signed
2025-06-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Holm
Formed
1957
Legal Domicile
Oh
Voting Board Members
23
Independent Board Members
23
Employees
108
Volunteers
110

Preparer

Firm
H & J Certified Public Accountants Inc
Address
7555 FREDLE DR STE 110, CONCORD, OH 44077
Preparer
Rolland B Standish
Phone
4409512997
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Our mission: create and discover beauty to foster a community empowered by the arts. This reflects our highest aspirations for our organization as we strive for artistic excellence and represents the pedagogical principal in all our educational programs and performances. We use this statement provocatively understanding that the word beauty is a subjective concept. Yet we see beauty in much more than the art itself. We see beauty in the process of creation and discovery. We see beauty when a child learns how to make their first sound on a flute or paints their first picture. We see beauty when a previously shy student can deliver their first lines on stage. We see beauty when a child struggling with emotional or communication challenges can positively express themselves and what they feel through music or art therapy. We see beauty in the inspiration our students, teachers, performers, and clients provide and the aspirations they hold onto firmly. We see beauty in everyone and the potential they have to inspire and be inspired. We see beauty in art and the beauty in the humanity that creates art. Our hope is that as each person creates and discovers beauty, they also discover and affirm the beauty we share in our common humanity often found in the diverse talents we are given, the skills we develop, and the rich cultural heritages we share.

Form 990, Page 2, Part III, Line 4A

The fine arts association (faa) was founded in 1957 to bring quality arts programming to northeast ohio. Our professional faculty of teaching artists provide instruction in visual arts, music, dance and theatre through classes and private lessons, both onsite and offsite. During the summer months, camps are offered in many disciplines. Students are given the opportunity to perform at recitals and share days throughout the year. Additionally, faa offers group and individual services in both music and arts therapies along with adapted programming and specialized workshops. Off-site creative arts therapies services are available to preschools, private/public schools, nursing homes, hospitals, and other community-based agencies, tailored to their specific needs. Over 1,800 people of all ages currently participate in our education and creative arts therapies programs. Faa produces four theatre productions each year, with at least one geared towards families. One performance of each production is sensory-friendly. We offer a series of free performances featuring our faculty along with community musicians. There are concerts throughout the year by both our community chorus and our community wind ensemble, and we have an improv troupe which performs several times a year. We also have outside groups perform, including the brass band of the western reserve, the coastliners of the north coast men's chorus, and tuba christmas. Over 12,000 people annually are reached through our various performances.

Form 990, Part XI, Line 9

Prior period adjustment 124,845

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Earnings from the endowment fund are used for the organization's mission- related actvities and programs.

Schedule D, Page 3, Part X

The association is exempt from federal income taxes under section 501(c)(3) of the internal revenue code (the "code") as a charitable organization whereby only unrelated business income, as defined by section 509(a)(1) of the code, is subject to federal income tax. The association currently has no unrelated business income. Accordingly, no provision for income taxes has been recorded.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0OUR MISSION: CREATE AND DISCOVER BEAUTY TO FOSTER A COMMUNITY EMPOWERED BY THE ARTS. THIS REFLECTS OUR HIGHEST ASPIRATIONS FOR OUR ORGANIZATION AS WE STRIVE FOR ARTISTIC EXCELLENCE AND REPRESENTS THE PEDAGOGICAL PRINCIPAL IN ALL OUR EDUCATIONAL PROGRAMS AND PERFORMANCES. WE USE THIS STATEMENT PROVOCATIVELY UNDERSTANDING THAT THE WORD BEAUTY IS A SUBJECTIVE CONCEPT. YET WE SEE BEAUTY IN MUCH MORE THAN THE ART ITSELF. WE SEE BEAUTY IN THE PROCESS OF CREATION AND DISCOVERY. WE SEE BEAUTY WHEN A CHILD LEARNS HOW TO MAKE THEIR FIRST SOUND ON A FLUTE OR PAINTS THEIR FIRST PICTURE. WE SEE BEAUTY WHEN A PREVIOUSLY SHY STUDENT CAN DELIVER THEIR FIRST LINES ON STAGE. WE SEE BEAUTY WHEN A CHILD STRUGGLING WITH EMOTIONAL OR COMMUNICATION CHALLENGES CAN POSITIVELY EXPRESS THEMSELVES AND WHAT THEY FEEL THROUGH MUSIC OR ART THERAPY. WE SEE BEAUTY IN THE INSPIRATION OUR STUDENTS, TEACHERS, PERFORMERS, AND CLIENTS PROVIDE AND THE ASPIRATIONS THEY HOLD ONTO FIRMLY. WE SEE BEAUTY IN EVERYONE AND THE POTE
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IRS990/Desc0THE FINE ARTS ASSOCIATION (FAA) WAS FOUNDED IN 1957 TO BRING QUALITY ARTS PROGRAMMING TO NORTHEAST OHIO. OUR PROFESSIONAL FACULTY OF TEACHING ARTISTS PROVIDE INSTRUCTION IN VISUAL ARTS, MUSIC, DANCE AND THEATRE THROUGH CLASSES AND PRIVATE LESSONS, BOTH ONSITE AND OFFSITE. DURING THE SUMMER MONTHS, CAMPS ARE OFFERED IN MANY DISCIPLINES. STUDENTS ARE GIVEN THE OPPORTUNITY TO PERFORM AT RECITALS AND SHARE DAYS THROUGHOUT THE YEAR. ADDITIONALLY, FAA OFFERS GROUP AND INDIVIDUAL SERVICES IN BOTH MUSIC AND ARTS THERAPIES ALONG WITH ADAPTED PROGRAMMING AND SPECIALIZED WORKSHOPS. OFF-SITE CREATIVE ARTS THERAPIES SERVICES ARE AVAILABLE TO PRESCHOOLS, PRIVATE/PUBLIC SCHOOLS, NURSING HOMES, HOSPITALS, AND OTHER COMMUNITY-BASED AGENCIES, TAILORED TO THEIR SPECIFIC NEEDS. OVER 1,800 PEOPLE OF ALL AGES CURRENTLY PARTICIPATE IN OUR EDUCATION AND CREATIVE ARTS THERAPIES PROGRAMS. FAA PRODUCES FOUR THEATRE PRODUCTIONS EACH YEAR, WITH AT LEAST ONE GEARED TOWARDS FAMILIES. ONE PERFORMANCE OF EACH PRODUCTION IS SENSORY-FRIENDLY. WE OFFER A SERIES OF FREE PERFORMANCES FEATURING OUR FACULTY ALONG WITH COMMUNITY MUSICIANS. THERE ARE CONCERTS THROUGHOUT THE YEAR BY BOTH OUR COMMUNITY CHORUS AND OUR COMMUNITY WIND ENSEMBLE, AND WE HAVE AN IMPROV TROUPE WHICH PERFORMS SEVERAL TIMES A YEAR. WE ALSO HAVE OUTSIDE GROUPS PERFORM, INCLUDING THE BRASS BAND OF THE WESTERN RESERVE, THE COASTLINERS OF THE NORTH COAST MEN'S CHORUS, AND TUBA CHRISTMAS. OVER 12,000 PEOPLE ANNUALLY ARE REACHED THROUGH OUR VARIOUS PERFORMANCES.
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IRS990/MissionDesc0OUR MISSION: CREATE AND DISCOVER BEAUTY TO FOSTER A COMMUNITY EMPOWERED BY THE ARTS. THIS REFLECTS OUR HIGHEST ASPIRATIONS FOR OUR ORGANIZATION AS WE STRIVE FOR ARTISTIC EXCELLENCE AND REPRESENTS THE PEDAGOGICAL PRINCIPAL IN ALL OUR EDUCATIONAL PROGRAMS AND PERFORMANCES. WE USE THIS STATEMENT PROVOCATIVELY UNDERSTANDING THAT THE WORD BEAUTY IS A SUBJECTIVE CONCEPT. YET WE SEE BEAUTY IN MUCH MORE THAN THE ART ITSELF. WE SEE BEAUTY IN THE PROCESS OF CREATION AND DISCOVERY. WE SEE BEAUTY WHEN A CHILD LEARNS HOW TO MAKE THEIR FIRST SOUND ON A FLUTE OR PAINTS THEIR FIRST PICTURE. WE SEE BEAUTY WHEN A PREVIOUSLY SHY STUDENT CAN DELIVER THEIR FIRST LINES ON STAGE. WE SEE BEAUTY WHEN A CHILD STRUGGLING WITH EMOTIONAL OR COMMUNICATION CHALLENGES CAN POSITIVELY EXPRESS THEMSELVES AND WHAT THEY FEEL THROUGH MUSIC OR ART THERAPY. WE SEE BEAUTY IN THE INSPIRATION OUR STUDENTS, TEACHERS, PERFORMERS, AND CLIENTS PROVIDE AND THE ASPIRATIONS THEY HOLD ONTO FIRMLY. WE SEE BEAUTY IN EVERYONE AND THE POTE
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