Leonard School of Music Inc

Nonprofit profile at a glance

EIN: 272901115
IRS 990-EZ coverage: 2012–2016
Forms available: Form 990-EZ 2016
Location: North Charleston, SC, USA
Phone: 8437455908
Rating: 66
Verdict: SUPPORTED
Rating confidence: Moderate
Sector: Performing Arts Schools

Official website

Reported finances

Revenue: $94,485
Expenses: $96,963
Assets: $1,482
Liabilities: $127

Source: IRS Form 990-EZ. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

7 people listed

People named in this filing

Maralee Barela (Executive Dir.)
William McSweeney (Chairman)
Janet Sanders (Vice Chairman)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Offer individual music and group band instruction to school-age students.

What it reported doing in 2016

Leonard School of Music provides a range of music manuscripts for student instruction of band programs, training and to reach new goals in the students musical education as well as run a full band program at the studio for beginners and intermediate students

Operating model

Revenue model: Earned-program. 87% 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

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

Financial Efficiency: 62
Transparency & Controls: 82
Sustainability: 24
Growth: 20

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 62.2%; rating input score 62
Program expense ratio: 60.6%; rating input score 61

Transparency & Controls

Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
Major donor itemization: Limited

Sustainability

Operating margin: -2.6%; rating input score 40; 40th percentile among comparable filings
Total-asset coverage ratio: 0.02; rating input score 4; 4th percentile among comparable filings
Liabilities to assets ratio: 0.09; rating input score 25; 25th percentile among comparable filings
Officer compensation ratio: 10.1%; rating input score 10; 10th percentile among comparable filings

Growth

Program expense growth: -10% per year; rating input score 0; 30th percentile among comparable filings
Revenue growth: -6.9% per year; rating input score 0; 34th percentile among comparable filings
Asset growth: 0.2% per year; rating input score 100; 44th percentile among comparable filings

Details

Where the money goes: 62.2% of revenue deployed · 60.6% of spending went to programs
Governance: Filed governance answers
Accomplishments: 4 filed program accomplishments · $59K in reported program spending
Leadership: top reported pay $0 · 7 people listed
Consistency: 7 of 7 current checks pass
Schedules: 2 filed schedules
Filing history: 5 filing years from 2012 to 2016
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 — Growth: Program expense growth scored 0/100.
High — Growth: Revenue growth scored 0/100.
High — Sustainability: Total-asset coverage ratio scored 4/100.
Moderate — Sustainability: Operating margin scored 40/100.
High — Sustainability: Officer compensation ratio scored 10/100.
High — Sustainability: Liabilities to assets ratio scored 25/100.