Musicians Foundation Inc

Nonprofit profile at a glance

EIN
131790739
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2122399137
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$411,661
Expenses
$432,999
Assets
$2,449,194
Liabilities
$0

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

Leadership & pay

14 people listed

Executive titles in this filing

  • DAVID GRACIA (EXECUTIVE DIRECTOR)
  • THOMAS F PARKER (Vice President)
  • LISA MEGEASKI (President)

Highest reported compensation

  • DAVID GRACIA (EXECUTIVE DIRECTOR): $97,500 total reported compensation

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

Overview

Mission

The musician's foundation fosters interest and advances the condition and social welfare of professional musicians and provides voluntary aid and assistance to them and their families in case of need.

What it reported doing in 2024

The foundation provided financial assistance to approximately 130 individuals on an as-needed basis.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 53% for direct work, and 47% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 94
  • Accountability: 84
  • Sustainability: 49
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.6%; rating input score 91
  • Program expense ratio: 74%; rating input score 74
  • Fundraising efficiency: $4.5 raised per $1 spent on fundraising; rating input score 20; 20th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • 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: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.2%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 5.66; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 22.5%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 0.1% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: -15.7% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -8.9% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 90.6% of revenue deployed · 74% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $321K in reported program spending
  • Leadership: top reported pay $98K · 14 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 20/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 29/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.