Apogaea Inc

Nonprofit profile at a glance

EIN
200970396
IRS 990 coverage
2014–2025
Forms available
Form 990 2025, Form 990-EZ 2018
Location
Denver, CO, USA
Phone
8142320960
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$412,360
Expenses
$417,963
Assets
$560,393
Liabilities
$-13

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Tim Cordova (President)

People named in this filing

  • Adriana Cordova (Director)
  • John Atwater (Director)
  • Eric Bosley (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To maintain a community that cultivates interest in and pursuit of art, music, and artistic expression.

What it reported doing in 2025

Organize and operate an annnual art and music festival, apogaea.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 76% for direct work, and 24% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 82
  • Accountability: 76
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.1%; rating input score 89
  • Program expense ratio: 88.4%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 80.6%; rating input score 81; 51st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.4%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 1.34; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 9.9% per year; rating input score 100; 67th percentile among comparable filings
  • Revenue growth: 9.6% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 10% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 89.1% of revenue deployed · 88.4% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $370K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 8 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.