Milwaukee Youth Arts Center Foundation Inc

Nonprofit profile at a glance

EIN
853869530
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Milwaukee, WI, USA
Phone
4142672902
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$170,539
Expenses
$219,759
Assets
$9,739,179
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • CHAD TESSMER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CHAD TESSMER (EXECUTIVE DIRECTOR): $122,416 total reported compensation

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

Overview

Mission

The corporation is organized and shall be operated exclusively for charitable and educational purposes within the meaning of section 501(c)(3) of the internal revenue code ("irc") and for the benefit of, to perform the functions of, or to carry out the purposes of first stage milwaukee, inc. ("fsm"), so long as fsm is described in irc section 509(a)(1) or (2), and milwaukee youth symphony orchestra, inc. ("myso"), so long as myso is described in irc section 509(a)(1) or (2); to engage in activities relating to the aforementioned purposes; and to invest in, receive, hold, use and dispose of all property, real or personal, as may be necessary or desirable to carry into effect aforementioned purposes.as part of its mission to support fsm and myso, the foundation is acting as a leverage lender in a new market tax credit transaction involving milwaukee youth arts center, inc. As well as fundraising and holding funds with donor restriction to be used as part of the myac capital campaign.

What it reported doing in 2024

Our principal program is to provide charitable and educational support to first stage and milwaukee youth symphony orchestra through the milwaukee youth arts center via the terms of a contribution agreement between the parties.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 98% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 93
  • Accountability: 95
  • Sustainability: 43
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 83.9%; rating input score 84
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

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: 100%; rating input score 100; 80th percentile among comparable filings
  • 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 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -28.9%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 44.32; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -21.2% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -92.2% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -1.5% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 83.9% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $184K in reported program spending
  • Leadership: top reported pay $122K · 5 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 4 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.

  • High — Financial Efficiency: Fundraising efficiency scored 1/100.
  • High — Sustainability: Operating margin scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.