Madison Avenue School of Arts
Nonprofit profile at a glance
- EIN
- 364628343
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024
- Location
- Toledo, OH, USA
- Phone
- 4192594000
- Rating
- 63
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Primary, Elementary Schools
Reported finances
- Revenue
- $6,573,674
- Expenses
- $6,847,974
- Assets
- $9,490,286
- Liabilities
- $13,142,224
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- Darlene Burke (Board President)
Highest reported compensation
- Darlene Burke (Board President): $1,000 total reported compensation
- Denise Gordy (Board Secretary): $1,000 total reported compensation
- Julie BredenbeckCorp (Board Member): $900 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
In partnership with our families and the community we will assure that all children learn at high levels. Students will be prepared academically, artistically, and emotionally for their future life endeavors.
What it reported doing in 2024
Committed to work with parents to assure that their children will be ready academically, artistically, and emotionally for the next step in their education and ultimately for rewarding careers. The school uses researched based strategies to meet the unique needs of each child.
Operating model
- Revenue model
- Grant-funded. 87% of the money available for current operations came from government grants.
- 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 most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 25
- Transparency & Controls: 100
- Accountability: 91
- Sustainability: 35
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 27.7%; rating input score 28
- Program expense ratio: 26.5%; rating input score 27
- 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: 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: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -4.2%; rating input score 22; 22nd percentile among comparable filings
- Total-asset coverage ratio: 1.39; rating input score 49; 49th percentile among comparable filings
- Liabilities to assets ratio: 1.38; rating input score 2; 2nd percentile among comparable filings
- Officer compensation ratio: 0.1%; rating input score 83; 83rd percentile among comparable filings
Growth
- Program expense growth: -34% per year; rating input score 0; 1st percentile among comparable filings
- Revenue growth: 2.6% per year; rating input score 100; 24th percentile among comparable filings
- Asset growth: 53.3% per year; rating input score 100; 98th percentile among comparable filings
Details
- Where the money goes: 27.7% of revenue deployed · 26.5% of spending went to programs
- Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $1.8M in reported program spending
- Leadership: top reported pay $1K · 6 people listed
- Consistency: 22 of 22 current checks pass
- Schedules: 4 filed schedules
- Filing history: 6 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 5 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.
- High — Financial Efficiency: Mission deployment rate scored 28/100.
- High — Financial Efficiency: Program expense ratio scored 27/100.
- High — Growth: Program expense growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- High — Sustainability: Operating margin scored 22/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
- High — Sustainability: Liabilities to assets ratio scored 2/100.