Reeves Downtown School of Music Inc
Nonprofit profile at a glance
- EIN
- 844093595
- IRS 990-EZ coverage
- 2023–2025
- Forms available
- Form 990-EZ 2025, Form 990-N 2022
- Location
- Elkin, NC, USA
- Phone
- 3362588240
- Rating
- 92
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Performing Arts Organizations
Reported finances
- Revenue
- $71,021
- Expenses
- $102,899
- Assets
- $269,294
- Liabilities
- $208,447
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- KEVIN STAINBACK (PRESIDENT)
People named in this filing
- MEGAN STAINBACK (BUSINESS DIR)
- KATE CARSON GRONER (EXECUTIVE DI)
- MEREDITH WILKERSON (JAM DIRECTOR)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide exceptional year-round musical education and performance opportunities to students from our community and beyond. To promte and encourage musicians of all genres through performances, workshops, and master classes: and to expose students and audiences to a diverse world of muscial expression. To enhance the artistic imprint of the yadkinvalley region, and to encourage arts tourism. To inspire future generations of musicians and music enthusiasts to keep musical traditions alive and to explore new forms of self-expression through instrumentation, sound and rhythm.
What it reported doing in 2025
Reeves downtown school of music advanced its missionto provide high quaility, accessible music education and cultural enrichment to the elkin community and surrounding region. The school offered private lessons, group classes, and ensemble experiences for students all ages and skill levels, fostering a lifelong appreciation of music and the arts. Programs such as elkin jam (junior appalachian musicians) exemplify the schools commitment to preserving cultural heritage while making music education accessible to youth. The school also hosted recitals, concerts, and collaborative events with local partners, expanding public access to the performing arts and strengthening community enagement. Through inclusive programming, scholarships, and outreach, the reeves downtown school of music continues to serve as a vital cultural resource in the region.
Operating model
- Revenue model
- Donor-supported. 62% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 97
- Transparency & Controls: 100
- Sustainability: 29
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 90.7%; rating input score 91
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: -44.9%; rating input score 13; 13th percentile among comparable filings
- Total-asset coverage ratio: 2.62; rating input score 72; 72nd percentile among comparable filings
- Liabilities to assets ratio: 0.77; rating input score 6; 6th percentile among comparable filings
- Officer compensation ratio: 7.1%; rating input score 11; 11th percentile among comparable filings
Growth
- Program expense growth: 18% per year; rating input score 100; 79th percentile among comparable filings
- Revenue growth: -4.7% per year; rating input score 0; 34th percentile among comparable filings
- Asset growth: -1.1% per year; rating input score 0; 34th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 90.7% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $93K in reported program spending
- Leadership: top reported pay $0 · 11 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 4 filed schedules
- Filing history: 3 filing years from 2023 to 2025
- Contacts: How to reach this organization
- Money network: 4 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.
- High — Sustainability: Operating margin scored 13/100.
- High — Growth: Revenue growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Liabilities to assets ratio scored 6/100.
- High — Sustainability: Officer compensation ratio scored 11/100.