Masterworks Chorale Society

Nonprofit profile at a glance

EIN
942901785
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
San Mateo, CA, USA
Phone
6509186225
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Singing, Choral

Official website

Reported finances

Revenue
$605,970
Expenses
$579,935
Assets
$485,536
Liabilities
$16,341

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

Leadership & pay

16 people listed

Executive titles in this filing

  • DAVID HOOPER (PRESIDENT)
  • ERIN RENFROE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ERIN RENFROE (EXECUTIVE DIRECTOR): $53,965 total reported compensation
  • BRYAN BAKER (ARTISTIC DIRECTOR): $38,914 total reported compensation

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

Overview

Mission

Music education, choral rehearsals and performances

What it reported doing in 2024

Presented 5 singing programs for membership and the public 0

Operating model

Revenue model
Earned-program. 73% 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 - 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: 77
  • Transparency & Controls: 84
  • Accountability: 72
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.9%; rating input score 80
  • Program expense ratio: 83.1%; rating input score 83
  • Fundraising efficiency: $11.94 raised per $1 spent on fundraising; rating input score 44; 44th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 5th 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: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.3%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 0.84; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 16%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 12.9% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 10% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 21.6% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 79.9% of revenue deployed · 83.1% of spending went to programs
  • Governance: 14 of 14 board members independent · 3 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $482K in reported program spending
  • Leadership: top reported pay $54K · 16 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 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.

  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 44/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.