Music in the Loft Inc C/o Piano Forte

Nonprofit profile at a glance

EIN
364002283
IRS 990-EZ coverage
2009–2013
Forms available
Form 990-EZ 2013
Location
Chicago, IL, USA
Phone
3129195030
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Official website

Reported finances

Revenue
$13,077
Expenses
$32,892
Assets
$35,590

Source: IRS Form 990-EZ. Selected filing: tax year 2013. Amounts in USD.

Leadership & pay

17 people listed

Executive titles in this filing

  • LINCOLN ELLIS (PRESIDENT)

People named in this filing

  • LINCOLN ELLIS (PRESIDENT)
  • ELIZABETH BENNAN ELLIS (VICE-PRESIDE)
  • JOHN SHANNON (TREASURER)

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 2013. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide musical performances and lectures to the public to educate and enhance the appreciation of classical and contemporary chamber music.

What it reported doing in 2013

Musical performances and lectures to the public to educate and enhance the appreciation of classical and contemporary chamber music and provide concert experience for young musicians.

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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 95
  • Transparency & Controls: 82
  • Sustainability: 24
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.4%; rating input score 86

Transparency & Controls

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

Sustainability

  • Operating margin: -151.5%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 1.08; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: -10.3% per year; rating input score 0; 34th percentile among comparable filings
  • Revenue growth: -30.7% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: -26.4% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $28K in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2009 to 2013
  • Contacts: How to reach this organization
  • 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 5/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.