Monroe Street Arts Center

Nonprofit profile at a glance

EIN
391854207
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Madison, WI, USA
Phone
6082321510
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$929,292
Expenses
$945,387
Assets
$920,821
Liabilities
$128,172

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

Leadership & pay

5 people listed

Executive titles in this filing

  • RACHEL ELLETT (President)
  • LINDSEY PEETERS (Vice President)

Highest reported compensation

  • CAREY ZAWLOCKI (Director): $62,301 total reported compensation
  • TRISTA RICHARDS (Secretary): $57,115 total reported compensation

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

Overview

Mission

Monroe street arts center engages a community of learners in exploring the arts and developing the creative self

What it reported doing in 2024

Monroe street arts center (msac)is a community school of the arts located in the dynamic dudgeon-monroe neighborhood in madison, Wisconsin. Since 1997, msac has been making the arts come alive for many families in our community. By providing high-quality private and group instruction to all ages, msac is keeping the door open for a lifetime of creative expression and appreciation of the arts. Msac is a welcoming, inclusive enviroment where we come together to learn, make, and share music and art. We cultivate a team of caring instructors who are first-rate artists and musicians, and create outlets for artistic expression through recitals, exhibits, and ourtreach of opportunities.

Operating model

Revenue model
Earned-program. 89% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.6%; rating input score 74
  • Program expense ratio: 74.1%; rating input score 74
  • Fundraising efficiency: $0.63 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings

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: 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -1.7%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 0.97; rating input score 42; 42nd percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 12.6%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 8.7% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 7.4% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 14.4% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 73.6% of revenue deployed · 74.1% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $700K in reported program spending
  • Leadership: top reported pay $62K · 5 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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: Fundraising efficiency scored 3/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.