Musack Inc

Nonprofit profile at a glance

EIN
461174360
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Nantucket, MA, USA
Phone
5082281398
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music

Official website

Reported finances

Revenue
$105,928
Expenses
$82,400
Assets
$131,385
Liabilities
$39

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

Leadership & pay

8 people listed

Executive titles in this filing

  • DONICK CARY (PRESIDENT & DIRECTOR)

People named in this filing

  • JOE WONG (DIRECTOR)
  • DOUG GLADSTONE (DIRECTOR)
  • ALISON KING (DIRECTOR)

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 give children and teens a voice through music by providing instruments and support for music teachers.

What it reported doing in 2024

To support instruction of music to children

Operating model

Revenue model
Other-operating. 70% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 85% of its reported program spending out as grants.

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 the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 75
  • Accountability: 70
  • Sustainability: 66
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.2%; rating input score 61
  • Program expense ratio: 78.7%; rating input score 79
  • Fundraising efficiency: $16.75 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 54%; rating input score 54; 43rd 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: 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: 22.2%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 1.59; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 53.5% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 8.9% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 61.2% of revenue deployed · 78.7% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $65K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 2 filing years from 2023 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 — Accountability: Governance controls: 4 of 6 not reported.
  • Review — Transparency & Controls: Grant itemization coverage scored 54/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 53/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.