Island Time Music Festival

Nonprofit profile at a glance

EIN
813554790
IRS 990 coverage
2018–2025
Forms available
Form 990 2025, Form 990-EZ 2017
Location
Nashville, TN, USA
Phone
5303011090
Rating
40
Verdict
MIXED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$145,575
Expenses
$133,933
Assets
$21,844
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

Highest reported compensation

  • SHELEE CORNILSEN (COORDINATOR): $13,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Held music festival in February Supported Little Yellow School Built community support

What it reported doing in 2025

Music Festival to improve community relations, support school, improve quality of life

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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

MIXED - Program spending has grown recently. Some filing-based governance responses are negative or unanswered and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 50
  • Accountability: 0
  • Sustainability: 40
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.4%; rating input score 52
  • Program expense ratio: 57%; rating input score 57
  • Fundraising efficiency: $0.32 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 8%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.16; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 9.7%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 13.3% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: -15% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 52.4% of revenue deployed · 57% of spending went to programs
  • Governance: 0 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $76K in reported program spending
  • Leadership: top reported pay $13K · 6 people listed
  • Highest-paid contractors: 3 contractors listed · $9K reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules · includes foreign activity
  • Filing history: 5 filing years from 2018 to 2025
  • 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.

  • High — Accountability: Governance controls: 6 of 6 not reported.
  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • High — Financial Efficiency: Fundraising efficiency scored 4/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.