Elite Music Competition Corp

Nonprofit profile at a glance

EIN
815259602
IRS 990 coverage
2019–2025
Forms available
Form 990 2025, Form 990-EZ 2018
Location
East Hanover, NJ, USA
Phone
9735990221
Rating
55
Verdict
MIXED
Rating confidence
Moderate
Sector
Arts Service Organizations and Activities

Reported finances

Revenue
$443,718
Expenses
$436,633
Assets
$392,033
Liabilities
$146,702

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Alla Iovel (President)

Highest reported compensation

  • Alla Iovel (President): $43,500 total reported compensation
  • Lev Iovel (VP): $43,500 total reported compensation
  • Aleksandr Iovel (VP): $43,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide International music competition programs to elementary students and young adults.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of voting board members are independent and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 90
  • Accountability: 5
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55.8%; rating input score 56
  • Program expense ratio: 56.7%; rating input score 57
  • 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 8th percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 11
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.6%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.9; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 29.9%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 26% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 16.6% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: 20.2% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 55.8% of revenue deployed · 56.7% of spending went to programs
  • Governance: 0 of 3 board members independent · 1 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $437K in reported program spending
  • Leadership: top reported pay $44K · 3 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2019 to 2025
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • High — Accountability: Governance controls: 7 of 8 not reported.
  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.