Friends of Musique & Vin Au Clos Vougeot Inc
Nonprofit profile at a glance
- EIN
- 301145076
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Rating
- 66
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Music
Reported finances
- Revenue
- $607,466
- Expenses
- $510,536
- Assets
- $1,491,841
- Liabilities
- $21
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- CRAIG STAPLETON (PRESIDENT)
People named in this filing
- BERNARD HERVET (BOARD MEMBER)
- ARVIND SODHANI (BOARD MEMBER)
- DOUGLAS BARZELAY (VICE PRESIDE)
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 make grants to musique et vin au clos vougeot, a french not-for-profit organization that offers study grants to young musicians at higher education establishments and comparable programs to facilitate the launch of such musicians' careers, and operates an "instrumental fund" to lend custom musical instruments to young musicians that do not otherwise have access to qulaity instruments and to engage in other charitable, religious, educational, literary and scientific acticvities
What it reported doing in 2024
To make grants to musique et vin au clos vougeot, a french not-for-profit organization that offers study grants to young musicians at higher education establishments and comparable programs to facilitate the launch of such musicians' careers, and operates an "instrumental fund" to lend custom musical instruments to young musicians that do not otherwise have access to quality instruments and to engage in other charitable, religious, educational, literary and scientific acticvities
Operating model
- Revenue model
- Donor-supported. 95% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 98% of its reported program spending out as grants.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.
Rating breakdown
- Financial Efficiency: 49
- Transparency & Controls: 75
- Accountability: 76
- Sustainability: 74
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 51.1%; rating input score 51
- Program expense ratio: 57.7%; rating input score 58
- Fundraising efficiency: $3.27 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: 0 of 8 controls in place; rating input score 0
- Claims monitoring procedures: Limited
- Requires narrative reports: Limited
- Conducts field audits: Limited
- May suspend future funding: Limited
- Requires financial reports: Limited
- Conducts site visits: Limited
- Requires grant agreements: Limited
- May require repayment: 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: 3 of 7 controls in place; rating input score 43
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 16%; rating input score 71; 71st percentile among comparable filings
- Total-asset coverage ratio: 2.92; rating input score 74; 74th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 83; 83rd percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 74.6% per year; rating input score 100; 98th percentile among comparable filings
- Revenue growth: 29% per year; rating input score 100; 92nd percentile among comparable filings
- Asset growth: 39% per year; rating input score 100; 94th percentile among comparable filings
Details
- Where the money goes: 51.1% of revenue deployed · 57.7% of spending went to programs
- Governance: 6 of 6 board members independent · 3 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $295K in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 22 of 22 current checks pass
- Schedules: 5 filed schedules · includes major donors and foreign activity
- Filing history: 6 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- 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 51/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- Review — Financial Efficiency: Program expense ratio scored 58/100.
- Moderate — Accountability: Governance controls: 4 of 7 not reported.
- High — Financial Efficiency: Fundraising efficiency scored 10/100.