Flatrock Events Inc

Nonprofit profile at a glance

EIN
991794945
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
North Platte, NE, USA
Phone
3083252315
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music

Reported finances

Revenue
$34,500
Expenses
$18,636
Assets
$15,864
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • GEORGE LAUBY (PRESIDENT)

People named in this filing

  • DAVID HARROLD (SECRETARY)
  • DONALD KURRE (TREASURER)
  • GEORGE LAUBY (PRESIDENT)

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 produce family friendly music weekends twice each summer, with low admission prices and a wide variety of games for children. To showcase the talents, skills and friendliness of the north platte community. To display the town's best qualities, including the ability to collaborate with musicians, donors, organizers, light and sound crews, and vendors from north platte or nearby communities. To locate twice-a-summer musical evening festivals in the original core of the city, with historic signs, awnings, artworks and greenery. To use the proceeds to support the music scene in north platte and lincoln county.

What it reported doing in 2024

Flatrock events inc produced the music on the bricks festival in north platte on august 9-10, 2024. Donations from the proceeds were made to local groups, including north platte noon rotary, the north platte high school pacers, and the flatrock roller derby.

Operating model

Revenue model
Donor-supported. 62% 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 - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 62
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.7%; rating input score 54
  • Program expense ratio: 99.4%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 64th 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: 46%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 53.7% of revenue deployed · 99.4% of spending went to programs
  • Governance: 3 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $19K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Contacts: How to reach this organization
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.