Music for Young Minds Foundation
Nonprofit profile at a glance
- EIN
- 853535697
- IRS 990-EZ coverage
- 2021–2024
- Forms available
- Form 990-EZ 2024
- Location
- Menifee, CA, USA
- Phone
- 3102917531
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Arts, Culture, and Humanities
Reported finances
- Revenue
- $38,859
- Expenses
- $44,349
- Assets
- $7,048
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- Cecil Thomas Jr (Executive Director and Board Member)
People named in this filing
- Cecil Thomas Jr (Executive Director and Board Member)
- Jim Schibsted (Board Member)
- Susan Kay Wyatt (Board Member)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Our mission is to bring the gift of free music lessons and music education to as many underprivileged children as possible. We will offer free music scholarships, music lessons and music education classes for kids.
What it reported doing in 2024
We provided music lessons, musical instruments and music scholarships to kids who could not afford to pay.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 55% for direct work, and 45% for grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 96
- Transparency & Controls: 82
- Sustainability: 26
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 89.8%; rating input score 90
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -14.1%; rating input score 27; 27th percentile among comparable filings
- Total-asset coverage ratio: 0.16; rating input score 14; 14th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 6.2%; rating input score 10; 10th percentile among comparable filings
Growth
- Program expense growth: 43.3% per year; rating input score 100; 92nd percentile among comparable filings
- Revenue growth: 14.2% per year; rating input score 100; 86th percentile among comparable filings
- Asset growth: -24.3% per year; rating input score 0; 8th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 89.8% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $40K in reported program spending
- Leadership: top reported pay $0 · 5 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 2 filed schedules
- Filing history: 4 filing years from 2021 to 2024
- Contacts: How to reach this organization
- 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.
- High — Sustainability: Operating margin scored 27/100.
- High — Sustainability: Total-asset coverage ratio scored 14/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 10/100.