Joy of Music Youth Music School Corporation

Nonprofit profile at a glance

EIN
311776315
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Knoxville, TN, USA
Phone
8655256806
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Official website

Reported finances

Revenue
$877,779
Expenses
$762,171
Assets
$5,577,554
Liabilities
$28,065

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

Leadership & pay

23 people listed

Executive titles in this filing

  • JERRY GREENE (PRESIDENT)

Highest reported compensation

  • FRANCIS GRAFFEO (EXECUTIVE DI): $110,202 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 provide a quality music education program for financially disadvantaged, at-risk youth

What it reported doing in 2024

Provide musical instruments and special musical opportunities through a combination of private and group lessons, ensemble participation, music enrichment classes and music experiences.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.6%; rating input score 97
  • Program expense ratio: 68.6%; rating input score 69
  • Fundraising efficiency: $3.93 raised per $1 spent on fundraising; rating input score 13; 13th 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: Limited
  • Grant itemization coverage: Limited
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.2%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 7.32; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 14.5%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 8.3% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 96.6% of revenue deployed · 68.6% of spending went to programs
  • Governance: 23 of 23 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $523K in reported program spending
  • Leadership: top reported pay $110K · 23 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 7 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 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.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.