Kentucky Country Music Hall of Fameand Museum Inc

Nonprofit profile at a glance

EIN
611191921
IRS 990 coverage
2011–2015
Forms available
Form 990 2015
Location
Mt Vernon, KY, USA
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$227,698
Expenses
$450,387
Assets
$3,380,669
Liabilities
$404,993

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • KAYLA DOBBS (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KAYLA DOBBS (EXECUTIVE DIRECTOR): $18,455 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To preserve music history in Kentucky and provide educational aid to Kentucky teachers.

What it reported doing in 2015

Kentucky music hall of fame museum inc., is a non profit organization established for the purpose of providing optimum quality recreation, entertainment and educational opportunities in sufficient quantities as well as quality porgramming, convenently loacted to meet the experience needs of all state citiaxens and visitors safeguarding the natural historical and clutural resources by providing adequate facitilities and skilled leadership in the museum enhancing the economy of the state by providing entertainment destination and educational services.

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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 69
  • Accountability: 74
  • Sustainability: 35
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 56.8%; rating input score 57
  • Fundraising efficiency: $0.66 raised per $1 spent on fundraising; rating input score 5; 5th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 76.9%; rating input score 77; 0th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -97.8%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 7.51; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 4.1%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: -15.6% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -1.7% per year; rating input score 0; 29th percentile among comparable filings
  • Asset growth: -8.5% per year; rating input score 0; 14th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 56.8% of spending went to programs
  • Governance: 12 of 12 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $256K in reported program spending
  • Leadership: top reported pay $18K · 8 people listed
  • Consistency: 17 of 20 current checks pass · 3 findings to review
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2011 to 2015
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 5/100.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX PayrollTaxes column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.