Monarch Music & Arts Community
Nonprofit profile at a glance
- EIN
- 881746065
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024, Form 990-EZ 2023, Form 990-N 2022
- Location
- Louisville, KY, USA
- Phone
- 5029380600
- Rating
- 71
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts, Cultural Organizations - Multipurpose
Reported finances
- Revenue
- $222,769
- Expenses
- $203,054
- Assets
- $53,843
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- Mark Roberts (President)
Highest reported compensation
- Mark Roberts (President): $46,000 total reported compensation
- Tara Powers (Secretary): $37,500 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 Monarch Music & Arts Community is a co-working space that serves as a communal hub for the creation, education, collaboration, performance, and advancement of original music and art in Louisville, KY. The organization's mission is to encourage, promote, and support local artists while promoting music and art appreciation and education in our community. The organization's goal is to unite, inspire, and uplift local artists, and our entire community, as we cultivate new creative connections beyond our city.
What it reported doing in 2024
Music and arts community hub and resource center: The organization operates and maintains a 3,000 sqft facility (leased) dedicated to the creation, education, collaboration, performance and furtherance of original music and art. The facility provides: Writing, rehearsal, and performance space for artists of all skill levels. Workshops, community events and educational programming to artists of all skill levels and the public at large. Professional grade tools, resources and platforms for local and touring artists to connect, collaborate and perform. Shared equipment/resource libraries to empower artists of all backgrounds to thrive and succeed in their artistic endeavors. BYO communal space for work, play, learning, advancement and fellowship in music and arts. In 2024 alone, the facility hosted intimate performances by 711 local artists, 98 regional and national touring artists. In June 2023, co-working memberships were launched to the public. At the end of 2024, the facility was home to 228 active members.
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. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 69
- Transparency & Controls: 92
- Accountability: 52
- Sustainability: 42
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 71.3%; rating input score 71
- Program expense ratio: 78.3%; rating input score 78
- Fundraising efficiency: $8.14 raised per $1 spent on fundraising; rating input score 34; 34th 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: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 50%; rating input score 50; 16th percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 8.8%; rating input score 58; 58th percentile among comparable filings
- Total-asset coverage ratio: 0.27; rating input score 14; 14th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 41.1%; rating input score 6; 6th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 36.8% per year; rating input score 100; 95th percentile among comparable filings
- Asset growth: 44.8% per year; rating input score 100; 96th percentile among comparable filings
Details
- Where the money goes: 71.3% of revenue deployed · 78.3% of spending went to programs
- Governance: 2 of 4 board members independent · 5 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $159K in reported program spending
- Leadership: top reported pay $46K · 4 people listed
- Consistency: 41 of 41 current checks pass
- Schedules: 3 filed schedules · includes major donors
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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 — Accountability: Independent voting board scored 50/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- Moderate — Financial Efficiency: Fundraising efficiency scored 34/100.
- High — Sustainability: Total-asset coverage ratio scored 14/100.
- Review — Sustainability: Operating margin scored 58/100.
- High — Sustainability: Officer compensation ratio scored 6/100.