Music Academy of Eastern Carolina

Nonprofit profile at a glance

EIN
562019664
IRS 990-EZ coverage
2010–2012
Forms available
Form 990-EZ 2012
Location
Greenville, NC, USA
Phone
2523536232
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Schools

Reported finances

Revenue
$111,380
Expenses
$121,063
Assets
$14,586

Source: IRS Form 990-EZ. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

10 people listed

Source: IRS Form 990-EZ. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide music instruction and music therapy to individuals.

What it reported doing in 2012

To provide music instruction and music therapy for approximately 250 students.

Operating model

Revenue model
Earned-program. 88% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 82
  • Sustainability: 11
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.4%; rating input score 91
  • Program expense ratio: 84.1%; rating input score 84

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -8.7%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 1.6% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: -2.6% per year; rating input score 0; 28th percentile among comparable filings
  • Asset growth: -37.5% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 91.4% of revenue deployed · 84.1% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $102K in reported program spending
  • Leadership: top reported pay $7K · 10 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2010 to 2012
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 16/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.