Rooster Walk Inc

Nonprofit profile at a glance

EIN
455130096
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Martinsville, VA, USA
Phone
4342490550
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$1,584,225
Expenses
$1,863,595
Assets
$726,842
Liabilities
$2,458

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

Leadership & pay

11 people listed

Executive titles in this filing

  • FRANK LACY (PRESIDENT)
  • JOHN E BUCK III (EXECUTIVE DIRECTOR AND TREASURER)
  • JAMES GARDNER (VICE PRESIDENT)

Highest reported compensation

  • JOHN E BUCK III (EXECUTIVE DIRECTOR AND TREASURER): $58,500 total reported compensation

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

Overview

Mission

To promote music, arts and education in martinsville-henry county va through music concerts & music & arts festivals. A portion of all rooster walk music event proceeds go to a musical instrument fund.

What it reported doing in 2024

Rooster walk is a non-profit organization that organizes and assembles music festivals. These are designed to engage performing groups and to provide entertainment, arts, crafts, and educational activities in multiple venues to raise funds for scholarships, and to provide an instrument repair program for local high school studnts, as well as for other local and regional charitable organizations and to provide safe on-site entertainment for music-arts fans.

Operating model

Revenue model
Earned-program. 76% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 53
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.1%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 63.6%; rating input score 64; 13th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -17.6%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.39; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 3.1%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 14.3% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 11.1% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 13.1% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.1% of spending went to programs
  • Governance: 7 of 11 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.7M in reported program spending
  • Leadership: top reported pay $58K · 11 people listed
  • Consistency: 20 of 22 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 7 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Advertising column sum did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.