Friendly School of Folk Music
Nonprofit profile at a glance
- EIN
- 455524447
- IRS 990-EZ coverage
- 2024–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2018
- Location
- Berwyn, IL, USA
- Phone
- 7087491932
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Arts, Culture, and Humanities
Reported finances
- Revenue
- $90,581
- Expenses
- $92,661
- Assets
- $16,909
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
People named in this filing
- ROBERT PIERCE (Director)
- TERRY WHITE (Director)
- TIM DELISLE (Director)
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
The Friendly School of Folk Music a non profit organization is a musical community that strives to inspire, bring together, and develop musicians of all ages and levels through our unique instructional approach. Our beginner, intermediate and advanced classes are led by professional musicians who guide students at their own pace with attention to individual musical interests. We are a community based organization that is all inclusive, and we strive to make music affordable to all, as well as financially rewarding to our mentors. We provide an environment for all musicians to learn from one another, play together and develop their skills. We encourage our musical family to consider the Friendly School of Folk Music a home where everyone is supported and welcome. We especially encourage our youth to choose music and the arts as a recreational outlet.
What it reported doing in 2024
The Friendly Music School 501c3 is a musical community that strives to inspire, bring together, and develop musicians of all ages and levels through our unique instructional approach. Our beginner, intermediate and advanced classes are led by professional musicians who guide students at their own pace with attention to individual musical interests. We are a community based organization that is all inclusive, and we strive to make music affordable to all, as well as financially rewarding to our mentors. We provide an environment for all musicians to learn from one another, play together and develop their skills. We encourage our musical family to consider the Friendly School of Folk Music a home where everyone is supported and welcome. We especially encourage our youth to choose music and the arts as a recreational outlet.
Operating model
- Revenue model
- Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
- Distribution model
- Direct operator. The filing allocates 98% 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
STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 77
- Transparency & Controls: 100
- Sustainability: 30
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 77.9%; rating input score 78
- Program expense ratio: 76.1%; rating input score 76
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -2.3%; rating input score 40; 40th percentile among comparable filings
- Total-asset coverage ratio: 0.18; rating input score 16; 16th percentile among comparable filings
- Liabilities to assets ratio: Limited
- 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: 77.9% of revenue deployed · 76.1% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $71K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 3 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.
- Moderate — Sustainability: Operating margin scored 40/100.
- High — Sustainability: Total-asset coverage ratio scored 16/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.