Rock and Soul Forever Foundation Inc

Nonprofit profile at a glance

EIN
205397606
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2011
Location
New York, NY, USA
Phone
2128689000
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$2,995,864
Expenses
$2,817,835
Assets
$1,636,109
Liabilities
$136,267

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

Leadership & pay

12 people listed

Executive titles in this filing

  • WILLIAM C CARBONE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • WILLIAM C CARBONE (EXECUTIVE DIRECTOR): $178,592 total reported compensation
  • ROLANDO M ALVARADO (DIRECTOR OF FINANCE): $130,087 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Foundation developed a national k-12 curriculum initiative called "teachrock". It was created to address the challenges of an environment in which schools face cuts to arts funding. Teachrock includes interdisciplinary, arts-driven materials designed to keep students engaged and in school at no cost to educators.

Operating model

Revenue model
Donor-supported. 66% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Fundraising costs are high for each dollar raised and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 71
  • Accountability: 95
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.7%; rating input score 60
  • Program expense ratio: 63.3%; rating input score 63
  • Fundraising efficiency: $3.93 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: 5.9%; rating input score 53; 53rd percentile among comparable filings
  • Total-asset coverage ratio: 0.58; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 62; 62nd percentile among comparable filings
  • Officer compensation ratio: 11%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 5.6% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 9.7% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 8.7% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 59.7% of revenue deployed · 63.3% of spending went to programs
  • Governance: 10 of 10 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $179K · 12 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Fundraising efficiency scored 12/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Review — Sustainability: Operating margin scored 53/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 27/100.