Prelude Music Foundation
Nonprofit profile at a glance
- EIN
- 471645705
- IRS 990 coverage
- 2020–2024
- Forms available
- Form 990 2024, Form 990-EZ 2018
- Location
- Houston, TX, USA
- Phone
- 8322282452
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Standard
- Sector
- Arts, Culture, and Humanities
Reported finances
- Revenue
- $619,367
- Expenses
- $538,518
- Assets
- $111,515
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
16 people listed
Executive titles in this filing
- JONATHAN GODFREY (EXECUTIVE DIRECTOR)
- ELI LEVINOWITZ (PRESIDENT)
Highest reported compensation
- ANA R TREVINO-GODFREY (DIRECTOR OF EDUCATION): $50,379 total reported compensation
- JONATHAN GODFREY (EXECUTIVE DIRECTOR): $46,792 total reported compensation
- MARGARET OWEN (DIRECTOR OF OPERATIONS): $44,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Teachers are dispatched to local public elementary schools to teach music to children.
Operating model
- Revenue model
- Donor-supported. 86% 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. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 72
- Transparency & Controls: 93
- Accountability: 77
- Sustainability: 46
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 68.7%; rating input score 69
- Program expense ratio: 79.1%; rating input score 79
- Fundraising efficiency: $22.67 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 8th 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: 4 of 9 controls in place; rating input score 44
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 13.1%; rating input score 67; 67th percentile among comparable filings
- Total-asset coverage ratio: 0.21; rating input score 10; 10th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
- Officer compensation ratio: 26.2%; rating input score 9; 9th percentile among comparable filings
Growth
- Program expense growth: 18.1% per year; rating input score 100; 80th percentile among comparable filings
- Revenue growth: 18.3% per year; rating input score 100; 83rd percentile among comparable filings
- Asset growth: 17.2% per year; rating input score 100; 77th percentile among comparable filings
Details
- Where the money goes: 68.7% of revenue deployed · 79.1% of spending went to programs
- Governance: 12 of 12 board members independent · 4 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $426K in reported program spending
- Leadership: top reported pay $50K · 16 people listed
- Consistency: 19 of 20 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes major donors
- Filing history: 4 filing years from 2020 to 2024
- 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.
- Moderate — Accountability: Governance controls: 4 of 8 not reported.
- High — Sustainability: Total-asset coverage ratio scored 10/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 9/100.