Omaha Conservatory of Music

Nonprofit profile at a glance

EIN
470834657
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2023
Location
Omaha, NE, USA
Phone
4029324978
Rating
87
Verdict
STRONG
Rating confidence
Standard
Sector
Performing Arts Schools

Official website

Reported finances

Revenue
$5,019,626
Expenses
$4,539,192
Assets
$14,373,993
Liabilities
$0

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

Leadership & pay

17 people listed

Executive titles in this filing

  • MEGHANN HENRY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MEGHANN HENRY (EXECUTIVE DIRECTOR): $125,395 total reported compensation
  • CANDACE JORGENSEN (DIRECTOR OF PROGRAMMING): $107,807 total reported compensation
  • DANIEL ROONEY (DIR. FINANCE & ADMIN THRU 10/24): $86,520 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 omaha conservatory of music is a non-profit school that builds a diverse musical community to enrich lives through education and performance.

What it reported doing in 2024

Events - the omaha conservatory of music facilitates one camp for young people each july. In fy25, suzuki institute served 100 strings students. This camp includes intensive experiences with the omaha conservatory of music faculty and visiting artists and culminates in special performance events throughout the week to highlight student learning, to feature visiting artists, and to bring our community together to celebrate personal growth through music.

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 90% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 96
  • Accountability: 100
  • Sustainability: 67
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.6%; rating input score 75
  • Program expense ratio: 82.5%; rating input score 82
  • Fundraising efficiency: $13.54 raised per $1 spent on fundraising; rating input score 48; 48th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.6%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 3.17; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 7%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 8.3% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 74.6% of revenue deployed · 82.5% of spending went to programs
  • Governance: 13 of 13 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $3.7M in reported program spending
  • Leadership: top reported pay $125K · 17 people listed
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 48/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.