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Rada Foundation Inc

EIN 93-3386726 · Asheville, NC

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair67 out of 100GovernanceWeak46 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO FOSTER AND ADVANCE THE ARTS IN ASHEVILLE'S RIVER ARTS DISTRICT BY SUPPORTING THE EFFORTS OF THE RIVER ARTS DISTRICT ARTISTS (RADA) ORGANIZATION. TO BE A LEADER IN PROVIDING PROGRESSIVE SERVICES TO OUR MEMBERS, FROM SHARED SPACES, SCHOLARSHIP OPPORTUNITIES, TO TECHNICAL ASSISTANCE PROGRAMS FOR PROFESSIONAL AND EMERGING ARTISTS IN THE RIVER ARTS DISTRICT. LEAD BY THREE CORE PROGRAMS: SCHOLARSHIPS, SPACE, AND SUPPORT OF RADA'S ORGANIZATIONAL OPERATIONS.

Income
$723,940
Spending
$812,585
Spent on programs
74%
Reserves
10.2 months of spending
Largest source of income
donations and private grants, 71%
Employees
0
Volunteers
350
Highest pay
$61,400, executive di

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 67 out of 100. Higher than 37% of charities in its peer group (arts and culture, $250k to $1m).

  • Reserves

    28 of 35

    Spendable reserves would cover 10.2 months of spending.

  • Debt

    20 of 20

    It owes 0% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 12% of income.

  • Income trend

    0 of 15

    Income fell 26% on the year before.

  • Spending floor

    15 of 15

    74% of spending went to programs and raising each dollar of donations cost 5 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Weak: 46 out of 100. Higher than 11% of charities in its peer group (arts and culture, $250k to $1m).

  • Independent board

    25 of 25

    7 of 8 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    6 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (5)
  1. $238,728 spent. RETENTION GRANT: THE RETENTION GRANTS WERE UP TO 3,000 PER ARTIST, TO SUPPORT ARTISTS AS THEY MOVED BACK INTO THE RIVER ARTS DISTRICT OR TO RETAIN AND SUPPORT THEM AS THE DISTRICT REBUILT AND VISITORS RETURNED TO SHOP.
  2. $194,661 spent. RAD OUTPOST/WELCOME CENTER: GALLARIES, SHOPS AND STUDIO SPACES SHOWCASING RIVER ARTS DISTRICT ARTISTS. PROGRAM SOLD THE WORK OF OVER 300+ RIVER ARTS DISTRICT ARTISTS,RETURNING 80% OF THE SALES TO THE ARTISTS.
  3. $26,000 spent. SCHOLARSHIPS: DISTRIBUTED SCHOLARSHIPS THAT INCLUDED GRANTS FOR RETAINING ARTISTS IN THE COMMUNITY FOR ADVERTISING AND EVENTS.
  4. $140,236 spent. WELCOME CENTER: GALLERY TO EDUCATE THE GENERAL PUBLIC, SUPPORT AND PROMOTE RIVER ARTS DISTRICT ARTISTS.
  5. WELCOME CENTER: GALLERY TO EDUCATE THE GENERAL PUBLIC, SUPPORT AND PROMOTE RIVER ARTS DISTRICT ARTISTS.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since October 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.