Chops Inc

Nonprofit profile at a glance

EIN
411832890
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Minneapolis, MN, USA
Phone
6124243669
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music Groups, Bands, Ensembles

Official website

Reported finances

Revenue
$655,929
Expenses
$657,696
Assets
$517,492
Liabilities
$7,520

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

Leadership & pay

16 people listed

People named in this filing

  • MEGAN O'LEARY (Executive Dir.)
  • KATHLEEN LISKA-JACKSON (Director-Gambli)
  • MICHAEL FISCHER (Secretary)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

CHOPS, INC. is on a mission to improve lives through music education and performing arts. We offer free music education programs for youth, and our performing ensembles entertain thousands each year with free concerts.

What it reported doing in 2024

Chops, inc. Serves and entertains communities throughout Minnesota. Thousands of youth and young adults have been impacted through music and performance education under the positive environment that chops provides, and hundreds of thousands of spectators have been entertained through the various performance programs. Our education outreach program includes multi-week in- school programs that teach music performance to students, and partnerships with schools to sustain music programs. We also support families and communities through our contributions to various community and school music programs and events.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75.1%; rating input score 75
  • Program expense ratio: 74.9%; rating input score 75
  • Fundraising efficiency: Limited

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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.3%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.79; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 10.2% per year; rating input score 100; 63rd percentile among comparable filings
  • Revenue growth: 12.7% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 75.1% of revenue deployed · 74.9% of spending went to programs
  • Governance: 14 of 14 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $492K in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.