Capital Concerts Inc
Nonprofit profile at a glance
- EIN
- 522019014
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Washington, DC, USA
- Phone
- 2025544620
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Music
Reported finances
- Revenue
- $14,757,127
- Expenses
- $14,707,144
- Assets
- $6,091,495
- Liabilities
- $2,061,549
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- MICHAEL COLBERT (EXECUTIVE VICE PRESIDENT)
- NANCY NEUMAN (VICE PRESIDENT)
Highest reported compensation
- MICHAEL COLBERT (EXECUTIVE VICE PRESIDENT): $554,046 total reported compensation
- CRAIG D FOUCHT (CHIEF FINANCIAL OFFICER): $204,160 total reported compensation
- ANNE MAGINNIS (MANAGING DIRECTOR): $174,043 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To seek creative solutions for educational and cultural problems through the use of the arts, public television, and collaborative activity by providing educational programs and cultural events for the country.
What it reported doing in 2024
Creation and production of two (2) public concerts telecast nationally over public television and radio. The "national memorial day concert" remembers and honors those who have served and are currently serving in the u.s. Armed forces. "a capitol fourth," is a fourth of july concert to celebrate the nation's birth. Concerts are conducted on the west lawn of the u.s. Capitol grounds with the national symphony orchestra and other nationally renowned performers and personalities.
Operating model
- Revenue model
- Grant-funded. 64% of the money available for current operations came from government grants.
- 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.
- Includes noncash contributions: Reported contributions include donated property or goods.
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 total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 94
- Transparency & Controls: 70
- Accountability: 85
- Sustainability: 28
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 93.5%; rating input score 94
- Program expense ratio: 93.8%; rating input score 94
- Fundraising efficiency: $246.91 raised per $1 spent on fundraising; rating input score 91; 91st percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 75%; rating input score 75; 14th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0.3%; rating input score 34; 34th percentile among comparable filings
- Total-asset coverage ratio: 0.41; rating input score 12; 12th percentile among comparable filings
- Liabilities to assets ratio: 0.34; rating input score 42; 42nd percentile among comparable filings
- Officer compensation ratio: 8%; rating input score 30; 30th percentile among comparable filings
Growth
- Program expense growth: 5.4% per year; rating input score 100; 45th percentile among comparable filings
- Revenue growth: 4.3% per year; rating input score 100; 37th percentile among comparable filings
- Asset growth: -3% per year; rating input score 0; 4th percentile among comparable filings
Details
- Where the money goes: 93.5% of revenue deployed · 93.8% of spending went to programs
- Governance: 3 of 4 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $13.8M in reported program spending
- Leadership: top reported pay $554K · 8 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $999K reported
- Consistency: 38 of 38 current checks pass
- Schedules: 8 filed schedules · includes major donors and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Sustainability: Operating margin scored 34/100.
- High — Sustainability: Total-asset coverage ratio scored 12/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Officer compensation ratio scored 30/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 42/100.