Des Moines Symphony Foundation

Nonprofit profile at a glance

EIN
421246575
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Des Moines, IA, USA
Phone
5152804000
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,314,296
Expenses
$1,346,736
Assets
$19,994,646
Liabilities
$307,716

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

Leadership & pay

15 people listed

Executive titles in this filing

  • AMY BEATTIE (PRESIDENT)
  • ASHLEE VIEREGGER (VICE PRESIDENT / PRESIDENT)
  • RICHARD EARLY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • RICHARD EARLY (EXECUTIVE DIRECTOR): $167,062 total reported compensation
  • RENEE DAVENPORT (SECRETARY): $60,234 total reported compensation

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

Overview

Mission

The foundation was established to provide financial assistance to the des moines symphony association to allow the association to achieve both immediate and long-term goals. The foundation is intended to be a permanent endowment fund that will support the continuing viability of the association in perpetuity by providing a consistent, meaningful, annual contribution toward the operations of the association.

What it reported doing in 2024

Provide financial support to the des moines symphony association.

Operating model

Revenue model
Investment-supported. 65% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 71
  • Accountability: 91
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.6%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.5%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 14.85; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 65; 65th percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 7.4% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: 7.1% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 10.8% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.6% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.3M in reported program spending
  • Leadership: top reported pay $167K · 15 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Operating margin scored 29/100.