Institute of Musical Traditions Inc

Nonprofit profile at a glance

EIN
521737962
IRS 990-EZ coverage
2021–2024
Forms available
Form 990-EZ 2024
Location
Silver Spring, MD, USA
Phone
3019603655
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities N.E.C.

Official website

Reported finances

Revenue
$75,856
Expenses
$89,123
Assets
$103,364
Liabilities
$5,963

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

Leadership & pay

5 people listed

Executive titles in this filing

  • David Richardson (President)
  • David Eisner (Vice-President & Executive Director)
  • Loralyn Coles (Assistant Executive Director)

People named in this filing

  • David Richardson (President)
  • David Eisner (Vice-President & Executive Director)
  • Arthur Shaw (Treasurer)

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

To promote and present folk music

What it reported doing in 2024

In 2024, the Institute of Musical Traditions presented 52 individual artists in 13 concerts, 52 featured artists in our weekly open mics, and uncounted other open mic participants. Attendance at our ticketed concert series was 1590. The open mics are streamed online and available for all to view.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 82
  • Sustainability: 30
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • 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: -17.5%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 1.16; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 26.8%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: -12.2% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: -24.1% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $89K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.