Ovation Academy of Performing Arts

Nonprofit profile at a glance

EIN
825263677
IRS 990 coverage
2019–2020
Forms available
Form 990 2020, Form 990-EZ 2018
Location
Mc Kinney, TX, USA
Phone
4696693082
Rating
82
Verdict
STRONG
Rating confidence
Standard
Sector
Performing Arts Schools

Official website

Reported finances

Revenue
$301,490
Expenses
$312,969
Assets
$32,203
Liabilities
$38,088

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • ANGELA BURNS (PRESIDENT AND EXEC DIRECTOR)
  • WENDY MCINTYRE (VICE PRESIDENT)

Highest reported compensation

  • ANGELA BURNS (PRESIDENT AND EXEC DIRECTOR): $21,318 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Ovation academy was founded to provide a home for performers to pursue their passion of the arts through professional style training which provides the technique, life-skills, experiences, and connections necessary to succeed in the industry. Ovation academy strives to produce knowledgable, respectful, empathetic, and impactful artists who will positively contribute to their communities and the performing arts industry

What it reported doing in 2020

Arts education including dance, theatre, and music while completing a high school curriculum.

Operating model

Revenue model
Earned-program. 69% of the money available for current operations came from fees and other program revenue.
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. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 100
  • Accountability: 61
  • Sustainability: 20
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.5%; rating input score 91
  • Program expense ratio: 87.2%; rating input score 87
  • Fundraising efficiency: $17.22 raised per $1 spent on fundraising; rating input score 48; 48th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 85.7%; rating input score 86; 22nd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.8%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.1; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 1.18; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 68% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 42.9% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 90.5% of revenue deployed · 87.2% of spending went to programs
  • Governance: 6 of 7 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $273K in reported program spending
  • Leadership: top reported pay $21K · 7 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 2 filing years from 2019 to 2020
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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 — Accountability: Governance controls: 5 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 48/100.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.