Rockport Music Inc
Nonprofit profile at a glance
- EIN
- 222479696
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Rockport, MA, USA
- Phone
- 9785467391
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts, Culture, and Humanities
Reported finances
- Revenue
- $5,211,483
- Expenses
- $5,848,618
- Assets
- $33,403,265
- Liabilities
- $864,529
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
31 people listed
Executive titles in this filing
- ANTHONY BEADLE (EXECUTIVE DIRECTOR THROUGH 5/28/24)
- SUZANNE WILSON (PRESIDENT & CEO AS OF 7/1/24)
Highest reported compensation
- ANTHONY BEADLE (EXECUTIVE DIRECTOR THROUGH 5/28/24): $176,807 total reported compensation
- LORI CORREALE (DIRECTOR OF DEVELOPMENT): $152,227 total reported compensation
- SUZANNE WILSON (PRESIDENT & CEO AS OF 7/1/24): $145,693 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Rockport music inspires a love and understanding of music through exceptional live performances and creative learning opportunities.
What it reported doing in 2024
We are distinguished by our expansive educational programs, which hosted 10 distinct artists over 30 days of in-school workshops, reaching 3,200 students. Through the community engagement events and concerts, rockport music deepens an appreciation for great music and makes enriching musical experiences accessible to all ages, with approximately 6,500 individuals reached throughout the year. We nurture new audiences and inspire future artists and patrons through diverse, innovative and interactive programs.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 77
- Transparency & Controls: 71
- Accountability: 95
- Sustainability: 43
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 89%; rating input score 89
- Program expense ratio: 77.8%; rating input score 78
- Fundraising efficiency: $4.22 raised per $1 spent on fundraising; rating input score 14; 14th 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: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- 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: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -12.2%; rating input score 11; 11th percentile among comparable filings
- Total-asset coverage ratio: 5.71; rating input score 85; 85th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 78; 78th percentile among comparable filings
- Officer compensation ratio: 10.5%; rating input score 28; 28th percentile among comparable filings
Growth
- Program expense growth: 5.8% per year; rating input score 100; 44th percentile among comparable filings
- Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
- Asset growth: 2.4% per year; rating input score 100; 21st percentile among comparable filings
Details
- Where the money goes: 89% of revenue deployed · 77.8% of spending went to programs
- Governance: 27 of 27 board members independent · 7 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $4.5M in reported program spending
- Leadership: top reported pay $177K · 31 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $108K reported
- Consistency: 31 of 32 current checks pass · 1 finding to review
- Schedules: 7 filed schedules · includes major donors and executive pay
- Filing history: 8 filing years from 2009 to 2024
- 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 — Financial Efficiency: Fundraising efficiency scored 14/100.
- High — Sustainability: Operating margin scored 11/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- High — Sustainability: Officer compensation ratio scored 28/100.