Icarus Quartet Inc

Nonprofit profile at a glance

EIN
850625317
IRS 990-EZ coverage
2022–2024
Forms available
Form 990-EZ 2024, Form 990-N 2023
Location
Baltimore, MD, USA
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$103,373
Expenses
$85,769
Assets
$64,074

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Jeff Stern (Executive Director and Percussionist)
  • Jason Berg (President)
  • Farida Hughes (Director and Vice President)

People named in this filing

  • Jeff Stern (Executive Director and Percussionist)
  • Larry Weng (Pianist, director, and treasurer)
  • Matt Keown (Percussionist, director, and secretary)

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

Icarus Quartet, Inc.s purpose is to promote culture and musical education. By creating immersive experiences that fuse the power of an orchestra with the intimacy of chamber music, icarus Quartet, Inc. welcomes the music of our time into the concert hall and delivers the best of classical music out to youth and the world of today.

What it reported doing in 2024

Concert touring, which is an integral part of the organization's mission, continues to be both a significant source of income and expense. In this season, icarus Quartet toured their new program, Bartok Reborn, extensively to venues such as Penn State University, Columbus State University, and others. icarus Quartet also collaborated with the Peabody Conservatory on a mixed ensemble project that responded to the poetry of an incarcerated person, entitled Songs from Inside.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filed totals do not add up and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 82
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.9%; rating input score 85
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 17%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 0.75; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 33.2%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 53.9% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 28% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 100% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 84.9% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 3 filed program accomplishments · $88K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 5 of 6 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Transparency & Controls: Part III program expenses within total did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.