Musicworks Inc

Nonprofit profile at a glance

EIN
815308559
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Leicester, NC, USA
Phone
8282739800
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Youth Development Programs

Official website

Reported finances

Revenue
$243,180
Expenses
$196,407
Assets
$140,899
Liabilities
$2,000

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

Leadership & pay

7 people listed

Executive titles in this filing

  • SANDRA TRAVIS (PRESIDENT)

People named in this filing

  • DANIEL CRUPI (BOARD MEMBER)
  • JULIE LEEVER (SECRETARY)
  • BARBRA LOVE (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Musicworks is an intensive after-school program, offered in buncombe county to school-aged children in under served populations that uses music education as a tool to teach life skills.

What it reported doing in 2024

Musicworks' mission is to teach life skills to underserved elementary students through music instruction. During the 2024-2025 school year, musicworks held programming at leicester elementary school. Musicworks served over 60 students throughout the school year, providing daily music lessons, academic enrichment, recess, and snacks, to each student. Students had musical instruments provided for them. In order to make musicworks accessible to all students, regardeless of finances, musicworks subsidized tuition for students who are on free or reduced lunch. Monthly tuition can be as low as 20 per month for qualifying students.

Operating model

Revenue model
Donor-supported. 93% of the money available for current operations came from contributions and gifts.
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. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 57
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.2%; rating input score 76
  • Program expense ratio: 94.4%; rating input score 94
  • Fundraising efficiency: Limited

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: Limited
  • 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 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 19.2%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 0.72; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -1.6% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: -3.3% per year; rating input score 0; 13th percentile among comparable filings
  • Asset growth: 10.5% per year; rating input score 100; 67th percentile among comparable filings

Details

  • Where the money goes: 76.2% of revenue deployed · 94.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $185K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.