FairTune Records Foundation
Nonprofit profile at a glance
- EIN
- 993347189
- IRS 990-EZ coverage
- 2024–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2024
- Location
- Lynnwood, WA, USA
- Phone
- 2063937095
- Rating
- 63
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,000
- Expenses
- $967
- Assets
- $33
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- Jordan Habenicht (President)
People named in this filing
- Jordan Habenicht (President)
- Nicholas Knight (Secretary)
- Leah (Guerra)
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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Our mission is to support the development, distribution, and promotion of musicians and bands through fair and equitable recording contracts.
What it reported doing in 2024
Development - We help connect bands to industry experts, other musicians, and learning opportunities to develop their skills. Our limited budget has prevented us from investing financial resources in this area, however we have been working with bands in this area. In 2024, however, we helped connect 3 of our musicians with producers to help finish their albums, helped connect some of our musicians so they can collaborate on songs, and are aiding artists in booking live performances.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
SUPPORTED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 56
- Transparency & Controls: 82
- Sustainability: 41
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 55.1%; rating input score 55
- Program expense ratio: 57%; rating input score 57
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: 3.3%; rating input score 52; 52nd percentile among comparable filings
- Total-asset coverage ratio: 0.03; rating input score 7; 7th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 55.1% of revenue deployed · 57% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments · $551 in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 8 of 9 current checks pass · 1 finding to review
- Schedules: 1 filed schedules
- Contacts: How to reach this organization
- 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.
- Review — Financial Efficiency: Mission deployment rate scored 55/100.
- Review — Financial Efficiency: Program expense ratio scored 57/100.
- Moderate — Transparency & Controls: Part III transfer expenses within program total did not reconcile in the filed values.
- High — Sustainability: Total-asset coverage ratio scored 7/100.
- Review — Sustainability: Operating margin scored 52/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.