Keys 4 4 Kids Inc

Nonprofit profile at a glance

EIN
900200429
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-N 2007
Location
New Brighton, MN, USA
Phone
6516983280
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$494,139
Expenses
$481,436
Assets
$131,562
Liabilities
$23,591

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

Leadership & pay

5 people listed

Executive titles in this filing

  • GRANT DAWSON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • GRANT DAWSON (EXECUTIVE DIRECTOR): $86,309 total reported compensation

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

Overview

Mission

We accept donated pianos and distribute them to families, schools and organizations to support music education for children and the community at large. We also have a piano recycling program where pianos are responsibly dismantled and recycled, saving local landfills thousands of pounds of waste per year.

What it reported doing in 2024

Keys 4/4 kids collected more than a thousand donated pianos from the broader twin cities community, and used those instruments to support a wide variety of arts and music programming, including 18 piano placements, 28 pianos on parade pianos, supporting more than 90 free concerts, and an instrument building class with students at a local liberal arts university.

Operating model

Revenue model
Donor-supported. 95% 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

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: 86
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 31
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.3%; rating input score 96
  • Program expense ratio: 77%; rating input score 77
  • Fundraising efficiency: $27.4 raised per $1 spent on fundraising; rating input score 65; 65th 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: 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 2.6%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 0.27; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 17.9%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: -8.1% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -5.2% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -12.2% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 96.3% of revenue deployed · 77% of spending went to programs
  • Governance: 4 of 4 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $371K in reported program spending
  • Leadership: top reported pay $86K · 5 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 10 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.