LPMC Foundation

Nonprofit profile at a glance

EIN
472032801
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2018, Form 990-N 2014
Location
Chicago, IL, USA
Phone
7736802200
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$59,288
Expenses
$28,682
Assets
$872,237
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • We Do Kim (President)
  • Lisa Capitanini (Vice President)

People named in this filing

  • We Do Kim (President)
  • Lisa Capitanini (Vice President)
  • Mariam Malik Alsikafi (Treasurer)

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

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

Overview

Mission

To share music with a broad audience across ages and demographics (from elderly at nursing homes to open performances at museums and universities). We perform for the public through lincoln park music center performances and fund educational programs. Through our educational grants, we hope to give beneficiaries the opportunity to develop positive self-esteem through music by learning skills that will help them throughout their lives.

What it reported doing in 2024

Benefits of a creative education. These organizations include a diverse lpmc foundation 47-2032801 to provide funding to musical organizations in order to share the group with broad reach including chicago public schools in underserved neighbourhoods.

Operating model

Revenue model
Investment-supported. 68% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 77% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 82
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.8%; rating input score 53
  • Program expense ratio: 82.8%; rating input score 83
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 51.6%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 30.41; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 1.7% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: -13.3% per year; rating input score 0; 27th percentile among comparable filings
  • Asset growth: 13% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 52.8% of revenue deployed · 82.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $24K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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 — Financial Efficiency: Mission deployment rate scored 53/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.