Community String Project Inc

Nonprofit profile at a glance

EIN
270676956
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2010
Location
Bristol, RI, USA
Phone
4015001243
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music

Official website

Reported finances

Revenue
$190,952
Expenses
$188,216
Assets
$150,660
Liabilities
$10,908

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

Leadership & pay

12 people listed

Executive titles in this filing

  • MEGAN STRADTMAN (PRESIDENT)

People named in this filing

  • MEGAN STRADTMAN (PRESIDENT)
  • PETER BODNER (VICE PRESIDE)
  • MARY ALMEIDA (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

To provide affordable string instrument lessons to students.

What it reported doing in 2024

The organization offers after-school lessons to elementary students (grades 3-5), a youth orchestra program for middle school students (grades 6-8), chamber music ensembles for high school students (grades 9-12) and evening beginner and ensemble lessons for adults. Currently, 35% of students receive lessons free of charge.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.5%; rating input score 89
  • Program expense ratio: 89.6%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.4%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.8; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 5.6% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 7.3% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 88.5% of revenue deployed · 89.6% of spending went to programs
  • Governance: 12 of 12 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $169K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.