Give a Note Foundation Inc

Nonprofit profile at a glance

EIN
352379473
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-EZ 2022, Form 990-N 2011
Location
Carmel, IN, USA
Phone
3179340482
Rating
59
Verdict
MIXED
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$326,154
Expenses
$347,931
Assets
$204,391
Liabilities
$21,539

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

Leadership & pay

13 people listed

Executive titles in this filing

  • MATT DUFOUR (BOARD CHAIR/PRESIDENT)
  • ED JAMES (PAST BOARD CHAIR/PRESIDENT)
  • MICHAEL DENDY JARRETT (CEO)

Highest reported compensation

  • MICHAEL DENDY JARRETT (CEO): $132,423 total reported compensation
  • BETH SLUSHER (COO, BOARD SECRETARY): $31,750 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To engage and empower educators, inspire students, and expand the reach and impact of music education.

What it reported doing in 2024

Give a note foundation, inc. (gan) is a strategic not-for-profit group with a mission to engage and empower music educators, inspire music students, and expand the reach and impact of music education. Since being founded in 2011, gans' main revenue sources to support their mission related services include fundraising grant efforts, individual donations, and corporate sponsorships.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 74
  • Accountability: 81
  • Sustainability: 24
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43%; rating input score 43
  • Program expense ratio: 40.2%; rating input score 40
  • Fundraising efficiency: $2.32 raised per $1 spent on fundraising; rating input score 11; 11th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 38.1%; rating input score 38; 40th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 25th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -6.7%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.59; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 47.2%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 5.9% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: -6.9% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 43% of revenue deployed · 40.2% of spending went to programs
  • Governance: 10 of 11 board members independent · 6 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $140K in reported program spending
  • Leadership: top reported pay $132K · 13 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 43/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 40/100.
  • Moderate — Transparency & Controls: Grant itemization coverage scored 38/100.
  • High — Financial Efficiency: Fundraising efficiency scored 11/100.
  • Review — Accountability: Governance controls: 3 of 9 not reported.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.