Bandwith Music Ltd

Nonprofit profile at a glance

EIN
811304791
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2018
Location
Chicago, IL, USA
Phone
9174058663
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Official website

Reported finances

Revenue
$1,915,723
Expenses
$1,190,126
Assets
$5,473,422
Liabilities
$3,152,206

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

Leadership & pay

13 people listed

Executive titles in this filing

  • BERNETTA SMITH (PRESIDENT)
  • ANNA TOBIN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ANNA TOBIN (EXECUTIVE DIRECTOR): $95,721 total reported compensation

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

Overview

Mission

Bandwith music works to promote wellness within underserved chicago communities by providing lasting access to exceptional performing arts instruction.

What it reported doing in 2024

Providing free dance, drumline, sound engineering, instrumental and choral ensemble programs to the local community.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 62% for direct work, and 38% for grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45%; rating input score 45
  • Program expense ratio: 67.9%; rating input score 68
  • Fundraising efficiency: $14.28 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 37.9%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 4.6; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.58; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 8%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 44.1% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 37.4% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 46.4% per year; rating input score 100; 96th percentile among comparable filings

Details

  • Where the money goes: 45% of revenue deployed · 67.9% of spending went to programs
  • Governance: 12 of 12 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $808K in reported program spending
  • Leadership: top reported pay $96K · 13 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 45/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 49/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.