Santa Barbara Symphony Orchestra Endowment Trust

Nonprofit profile at a glance

EIN
956542234
IRS 990 coverage
2011–2015
Forms available
Form 990 2015
Location
Santa Barbara, CA, USA
Phone
8058989386
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$142,659
Expenses
$298,040
Assets
$5,576,597
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • DAVID PRATT (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DAVID PRATT (EXECUTIVE DIRECTOR): $138,457 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide general support for the santa barbara symphony orchestra association through contributions from the general public and managing investments.

What it reported doing in 2015

The santa barbara symphony endowment trust manages contributions from the general public in order to provide general support for the santa barbara symphony orchestra.

Operating model

Revenue model
Investment-supported. 67% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.7%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 79th 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: 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: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -108.9%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 18.71; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 9.6% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 4% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 5.6% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 87.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $261K in reported program spending
  • Leadership: top reported pay $138K · 8 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2011 to 2015
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.
  • High — Grant Readiness: California registration: this organization is not authorized to operate as a charity in California.