Meridian Symphony Association Inc

Nonprofit profile at a glance

EIN
646025769
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Meridian, MS, USA
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Symphony Orchestras

Reported finances

Revenue
$382,083
Expenses
$471,549
Assets
$78,054
Liabilities
$0

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

Leadership & pay

6 people listed

Executive titles in this filing

  • CARA PURVIS (EXECUTIVE DIRECTOR)
  • MEGAN PORTER (PRESIDENT)
  • JIM POTUK (VICE PRESIDENT)

People named in this filing

  • CARA PURVIS (EXECUTIVE DIRECTOR)
  • MEGAN PORTER (PRESIDENT)
  • JIM POTUK (VICE PRESIDENT)

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 promote classical music

What it reported doing in 2024

Symphony orchestra-classical concerts, perppermint pops concert, free childrens concert

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 100
  • Accountability: 70
  • Sustainability: 26
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.3%; rating input score 80
  • Program expense ratio: 65.1%; rating input score 65
  • Fundraising efficiency: Limited

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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • 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: -23.4%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 0.17; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 52nd percentile among comparable filings
  • Revenue growth: 0.8% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: -10.3% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 80.3% of revenue deployed · 65.1% of spending went to programs
  • Governance: 17 of 17 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $307K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Growth: Asset growth scored 0/100.