Aequalis Inc Dba The Core Ensemble

Nonprofit profile at a glance

EIN
112798348
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Lake Worth, FL, USA
Phone
5615823841
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music

Reported finances

Revenue
$204,241
Expenses
$202,794
Assets
$44,523
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

2 people listed

Highest reported compensation

  • Michael Parola (Pres. & Treas.): $16,623 total reported compensation
  • Margot Emery (Clerk): $6,649 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Musical performances and education.

What it reported doing in 2024

School Programs-Secondary & Primary school events designed to inform and educate children about chamber music in general while giving them exposure to example.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 90
  • Accountability: 0
  • Sustainability: 36
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.5%; rating input score 87
  • Program expense ratio: 87.1%; rating input score 87
  • Fundraising efficiency: $10.16 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.7%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 11.5%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: -2.8% per year; rating input score 0; 22nd percentile among comparable filings
  • Revenue growth: -3.1% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 86.5% of revenue deployed · 87.1% of spending went to programs
  • Governance: 0 of 2 board members independent · 0 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $177K in reported program spending
  • Leadership: top reported pay $17K · 2 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 7 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.