Key Chorale Inc

Nonprofit profile at a glance

EIN
592779200
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2011
Location
Sarasota, FL, USA
Phone
9419214845
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$939,130
Expenses
$1,075,039
Assets
$499,944
Liabilities
$330,495

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

Leadership & pay

13 people listed

Executive titles in this filing

  • ROBERT WENNBERG (President)
  • CAROL MYERS (Vice President)

Highest reported compensation

  • ROBERT WENNBERG (President): $2,420 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Key Chorale, the Suncoast's premier symphonic chorus, is dedicated to transforming lives through innovative programming, artistic excellence, educational outreach and service to the community.

What it reported doing in 2024

Community outreach - key chorale continued to offer its three outreach choir programs throughout the 2024-2025 season and also expanded the program with additional locations and programs. The off-key chorale, in partnership with the neuro challenge foundation, is a choral group composed of individuals living with parkinsons disease and their caregivers. The two where are my keys chorales are a similar progam for those living with alzheimers and another for dementia. All programs welcome caregivers.the come together choir initiative is a new comprehensive choral enrichment toolkit created and designed by key chorale to bring the transformative power of group singing to seniors. It is easy-to-implement music programming for older adults by providing a wide range of senior-serving settings such as retirement and memory care communities to civic choirs and community centers with everything needed to deliver an enriching 8-week singing experience culminating in a themed performance. The program is ideal for seniors experiencing memory loss or conditions like parkinsons and alzheimers disease.

Operating model

Revenue model
Donor-supported. 67% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - 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: 74
  • Transparency & Controls: 86
  • Accountability: 84
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.9%; rating input score 82
  • Program expense ratio: 70.1%; rating input score 70
  • Fundraising efficiency: $14.79 raised per $1 spent on fundraising; rating input score 50; 50th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -14.5%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0.66; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 11.9% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 12% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 20.2% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 81.9% of revenue deployed · 70.1% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $754K in reported program spending
  • Leadership: top reported pay $2K · 13 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 50/100.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.