Roots & American Music Society

Nonprofit profile at a glance

EIN
472407344
IRS 990 coverage
2018–2019
Forms available
Form 990 2019, Form 990-EZ 2017, Form 990-N 2015
Location
Moscow, TN, USA
Phone
9012928049
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Official website

Reported finances

Revenue
$186,212
Expenses
$317,946
Assets
$11,055
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • STEVE DUNAVANT (PRESIDENT)

People named in this filing

  • BRYAN HAYES (SECRETARY/TREASURER)
  • STEVE DUNAVANT (PRESIDENT)
  • JAY HEALY (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization exists to foster and support the creation, performance & appreciation of roots & american music in memphis & the midsouth.

What it reported doing in 2019

Loves lives on cd - rams teamed with the tragedy assistance program for survivors (taps) to orchestrate andcreate a meaningful recording cd project titled love lives on https://www.lovelivesonmusic.com/. Thecompilation spotlights 10 original and personal songs that honor the lives and dedication of our servicemen and women, and the sacrifice of fallen military heroes. Love lives on award-winning producers (jimmy nichols/frank myers) paired military families, who have lost a loved one, with some of the industry's most notable hit songwriters (gary baker/greg barnhill/liz hengber/brett jones/billy Montana/phil o'donnell and more) to bring to life heart wrenching musical diaries as personal insights and recollections in remembrance of military heroes. The title track, "love lives on," is a collaboration written by bonnie carroll (taps founder and president), richie mcdonald (lonestar) and producers frank myers and jimmy nichols. Love lives on was released 2020 memorial dayweekend release. 100% of net proceeds benefit taps.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 95% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 21
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.9%; rating input score 95
  • 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: 93.8%; rating input score 94; 51st percentile among comparable filings
  • 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: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: -70.7%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: 103.9% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 54.5% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 8.5% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $302K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2018 to 2019
  • 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.