Santa Monica Bay Music Foundation

Nonprofit profile at a glance

EIN
452496275
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019, Form 990-N 2012
Location
Santa Monica, CA, USA
Phone
3106334985
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Youth Development Programs

Reported finances

Revenue
$502,510
Expenses
$496,221
Assets
$2,100
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • John Redfield (CEO/Director)

Highest reported compensation

  • John Redfield (CEO/Director): $25,893 total reported compensation

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

Overview

Mission

At the Santa Monica Bay Music Foundation, we believe in the transformative power of music. Our organization enriches the lives of children through music education in an optimal learning environment, regardless of their socioeconomic standing. Through our comprehensive music education programming, children expand their social awareness and develop a heightened sense of individual self-worth.

What it reported doing in 2024

The Santa Monica Bay Music Foundation continued our work to break down barriers to music education. Through our programs, students increased empathy and cultural awareness, and understanding. We continued provided quality music education to over 80 youth this year through our core programming, which included music camps, private lessons, ensemble programs, field trips, and community concerts. Over 1500 guests from the public attended out concerts. We additionally had 300 student hosted free classroom trips.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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.

The verdict

MIXED - A large share of available resources goes toward mission work and revenue has grown recently. A relatively small share of voting board members are independent and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 45
  • Accountability: 35
  • Sustainability: 36
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.4%; rating input score 86
  • Program expense ratio: 87.5%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 5th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 6.1%; rating input score 6; 9th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.3%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: -3.9% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: 19.2% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 26.1% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 86.4% of revenue deployed · 87.5% of spending went to programs
  • Governance: 2 of 33 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $434K in reported program spending
  • Leadership: top reported pay $26K · 3 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules · includes foreign activity
  • Filing history: 5 filing years from 2020 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.

  • High — Accountability: Independent voting board scored 6/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Officer compensation ratio scored 53/100.