Aqua String Band New Years Association
Nonprofit profile at a glance
- EIN
- 233012726
- IRS 990-EZ coverage
- 2017–2024
- Forms available
- Form 990-EZ 2024
- Location
- Philadelphia, PA, USA
- Phone
- 2158318709
- Rating
- 89
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Music Groups, Bands, Ensembles
Reported finances
- Revenue
- $145,380
- Expenses
- $151,293
- Assets
- $178,474
- Liabilities
- $56,387
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- Michael Riddle (President)
- Edward Maminski (Vice President)
People named in this filing
- Michael Riddle (President)
- Joseph Farrell (Director)
- Austin Tilley (Recording Sec)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The purpose of the organization is to promote civic pride and provide a focus for community activity by the organization of a string band. The organization shall foster and encourage the art of playing instruments which are associated with string bands and string band music and will continue to support the mummers' parade in Philadelphia as has been heretofore the custom. The organization shall also perform in various community parades and concerts to help continue with cultural and local traditions and events. The organization shall travel to cities outside of their surrounding clubhouse to help promote string bands, mummers and the art of playing music.
What it reported doing in 2024
Instrument purchase, instrument repair, costume design and purchase
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 99
- Transparency & Controls: 82
- Sustainability: 39
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 96.8%; rating input score 97
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -4.1%; rating input score 24; 24th percentile among comparable filings
- Total-asset coverage ratio: 1.18; rating input score 65; 65th percentile among comparable filings
- Liabilities to assets ratio: 0.32; rating input score 14; 14th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 11.2% per year; rating input score 100; 63rd percentile among comparable filings
- Revenue growth: 0.8% per year; rating input score 100; 25th percentile among comparable filings
- Asset growth: 1.5% per year; rating input score 100; 32nd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 96.8% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $146K in reported program spending
- Leadership: top reported pay $0 · 9 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 2 filed schedules
- Filing history: 8 filing years from 2017 to 2024
- 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.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Operating margin scored 24/100.
- High — Sustainability: Liabilities to assets ratio scored 14/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.