Delaware Division of the Arts
"They make finances understandable...."
The Delaware Division of the Arts annually invests more than $1.75 million in arts programming for residents of The First State. The division disburses state and federal grant dollars to arts organizations, community-based organizations, schools, and individual artists. It also provides technical assistance, sponsors organizational development workshops for arts nonprofits, offers fellowships, and serves as an information resource on cultural events. The division educates the public, increases awareness of the arts, and encourages the creative process that brings meaning to life, nourishes the soul, and strengthens Delaware’s communities and quality of life.
With hundreds of poets and painters, museums and theaters requesting funds, how does a grantmaker like the division perform due diligence and evaluate the financial condition of potential grantees? To meet this need, Your Part-Time Controller was brought in several years ago to review the financial information submitted by grantees during the application process. YPTC also began to train division staff on how to read grantees’ income and activities statements and balance sheets to gain a better understanding of their financial health. Grantees were also invited to YPTC workshops explaining the new IRS 990 forms and other training to help them improve the business of the arts.
“We were always collecting grantees’ financial information and while our grant review panels routinely have a member with financial expertise, a comprehensive and systematic financial analysis is very important to us. Your Part-Time Controller offers an independent review with a summary that can be presented to the grant review panels,” says Director Paul Weagraff.
“The panelists have really come to appreciate the reviews, which affirm for us the statements made by grant applicants and give our financial review process more credibility. It’s been very helpful for us, and very instructive.”
Weagraff is appreciative of YPTC’s support. “They’ve been very responsive and they’re always there to answer a question when I’m looking at something and want to make sure I’m on the right page. YPTC’s approach is particularly good for those of us who aren’t accounting whizzes – they make finances understandable.”