Chords for a Cause Inc
Nonprofit profile at a glance
- EIN
- 272398599
- IRS 990-EZ coverage
- 2011–2013
- Forms available
- Form 990-EZ 2013
- Location
- Wilmington, NC, USA
- Phone
- 9103413331
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Health Support Services
Reported finances
- Revenue
- $34,445
- Expenses
- $29,451
- Assets
- $8,418
- Liabilities
- $34,877
Source: IRS Form 990-EZ. Selected filing: tax year 2013. Amounts in USD.
Leadership & pay
2 people listed
Executive titles in this filing
- DAMIAN BREZINSKI (PRESIDENT)
- SUE BREZINSKI (VICE-PRESIDENT)
People named in this filing
- DAMIAN BREZINSKI (PRESIDENT)
- SUE BREZINSKI (VICE-PRESIDENT)
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 2013. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Chords for a cause organizes and presents, at least, one concert annually to benefit a designated medical charity. Annually, the organization defines a medically related cause and utilizes the event(s) to raise awareness and funds to support the cause.
What it reported doing in 2013
Utilizing the power of music to bring people together to make a difference.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 59% for direct work, and 41% for grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 91
- Transparency & Controls: 100
- Sustainability: 46
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 85.5%; rating input score 86
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 14.5%; rating input score 71; 71st percentile among comparable filings
- Total-asset coverage ratio: 0.29; rating input score 20; 20th percentile among comparable filings
- Liabilities to assets ratio: 4.14; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 57; 57th percentile among comparable filings
Growth
- Program expense growth: -24.9% per year; rating input score 0; 21st percentile among comparable filings
- Revenue growth: -34.1% per year; rating input score 0; 14th percentile among comparable filings
- Asset growth: -66.2% per year; rating input score 0; 4th percentile among comparable filings
Details
- Where the money goes: 85.5% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $29K in reported program spending
- Leadership: top reported pay $0 · 2 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 4 filed schedules
- Filing history: 3 filing years from 2011 to 2013
- 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 — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 20/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 2/100.
- Review — Sustainability: Officer compensation ratio scored 57/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.