Cedar Falls Band Inc

Nonprofit profile at a glance

EIN
421075385
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Cedar Falls, IA, USA
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music Groups, Bands, Ensembles

Official website

Reported finances

Revenue
$123,132
Expenses
$92,406
Assets
$1,333,905
Liabilities
$0

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JUDY LARKIN (PRESIDENT)

Highest reported compensation

  • KELLY MCCORMICK (SECRETARY): $3,260 total reported compensation
  • BARRY DVORAK (VICE PRESIDE): $1,696 total reported compensation
  • DONALD RASMUSSON (TREASURER &): $1,130 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 perform free band music programs for the citizens of the cedar valley.

What it reported doing in 2024

Every tuesday night during june and july the cf municipal band performs in the band shell in overman park, which is the town square of cedar falls. The band concerts are free and very popular. Attendance numbers are usually in the hundreds. The band also performs at many special functions such as sturgis falls, the annual celebration which attracts thousands.

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. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 81
  • Accountability: 50
  • Sustainability: 77
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th 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: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 0 of 9 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 25%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 14.44; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 9.1%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 6 of 7 board members independent · 0 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $92K in reported program spending
  • Leadership: top reported pay $3K · 7 people listed
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 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.

Key Signals

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

  • High — Accountability: Governance controls: 8 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.