Ovation Music Fund

Nonprofit profile at a glance

EIN
271133240
IRS 990 coverage
2016–2018
Forms available
Form 990 2018, Form 990-EZ 2014, Form 990-N 2012
Location
Toluca Lake, CA, USA
Phone
3104157978
Rating
45
Verdict
MIXED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$22,286
Expenses
$7,423
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • WENDY WINKS (CO-FOUNDER, PRESIDENT)

People named in this filing

  • WENDY WINKS (CO-FOUNDER, PRESIDENT)
  • DAVID FLEMING (BOARD TREASURER (until 3/2018))
  • CJ HELM (BOARD SECRETARY (until 3/2018))

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 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Music education transforms children's lives. Children who regularly practice an instrument do better in school, are more confident, have more friends, learn the value of hard work, are more likely to graduate high school and go to college, and stay focused and out of trouble. By providing music school scholarships to low-income children, ovation music fund provides children with the ability to commit to something they love, leading to productive and fulfilling lives.

What it reported doing in 2018

During the tax year 2018, the organization terminated its operations. They notified applicants and schools that they will be discontinuing and no longer awarding scholarships.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating revenue.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 52
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 66.7%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -117.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -21.2% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: -77.9% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 1 of 1 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2016 to 2018
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: California registration: this organization is recorded as not currently operating in California.