Clearwater Jazz Holiday Foundation Inc

Nonprofit profile at a glance

EIN
581910442
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Clearwater, FL, USA
Phone
7274615200
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music

Official website

Reported finances

Revenue
$592,315
Expenses
$729,385
Assets
$766,606
Liabilities
$198,623

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

Leadership & pay

22 people listed

Executive titles in this filing

  • VICTOR LUCAS (PRESIDENT)
  • JOHN KURNIK (VICE PRESIDENT)
  • STEVE WEINBERGER (CEO)

Highest reported compensation

  • STEVE WEINBERGER (CEO): $183,071 total reported compensation

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

Overview

Mission

It is clearwater jazz holiday foundation's mission to be the leading proponent of jazz entertainment and education in Florida through the annual presentation of a world-class, live music festival in clearwater, Florida (continued on schedule o) during the third week of october and to promote tourism to pinellas county as a key component of this celebration.

What it reported doing in 2024

Accordingly, while cjh is the organization's main program service, the money earned from cjh and other annual events is used not only to operate the annual festival but also to further the organization's community impact. These year-round innovative initiatives and social events are changing lives and providing special experiences for people of all ages and varying socio-economic backgrounds, from the very young to the senior community. The activities also promote personal and community cultural development, inspire jazz/music appreciation, create audiences, and increase cultural awareness through year-round social and educational opportunities. (continued on schedule o)

Operating model

Revenue model
Donor-supported. 74% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 96% 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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 71
  • Accountability: 90
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.3%; rating input score 83
  • Program expense ratio: 67.1%; rating input score 67
  • Fundraising efficiency: $4.84 raised per $1 spent on fundraising; rating input score 17; 17th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 25th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • 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: 72.4%; rating input score 72; 33rd 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: -23.1%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 1.05; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 25.1%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 0.7% per year; rating input score 100; 20th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 7.2% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 83.3% of revenue deployed · 67.1% of spending went to programs
  • Governance: 21 of 21 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $490K in reported program spending
  • Leadership: top reported pay $183K · 22 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $169K reported
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Fundraising efficiency scored 17/100.
  • High — Sustainability: Operating margin scored 8/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.