Sioux Falls Jazz & Blues Society

Nonprofit profile at a glance

EIN
460418356
IRS 990 coverage
2017–2022
Forms available
Form 990 2022
Location
Sioux Falls, SD, USA
Phone
6053356101
Rating
43
Verdict
MIXED
Rating confidence
Moderate
Sector
Cultural, Ethnic Awareness

Official website

Reported finances

Revenue
$27,485
Expenses
$54,884
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • BETH ORMSETH (PRESIDENT)
  • ERIN BOSCH (VICE PRESIDENT)
  • ALEX GILBERT-SCHRAG (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ALEX GILBERT-SCHRAG (EXECUTIVE DIRECTOR): $19,376 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

It is the mission of the sioux falls jazz and blues society to increase the awareness of jazz and blues music in the sioux falls community and region, through musical events and education.

What it reported doing in 2022

In 2022, the sioux falls jazz & blues society focused on dissolution. Impact from the pandemic and subsequent challenges with fundraising were primary contributors to the board of directors making this decision, officially voted on and approved november 4. The only programming sfjb sponsored was participation for local jazz musicians in the levitt smithsonian jazz master orchestra program. Completed dissolution activities included payment of all outstanding liabilities of the corporation, and distribution of remaining cash assets and endowment to like charitable organizations per the by-laws. All required articles were provided to the South Dakota secretary of state office, with final approval of dissolution february 13, 2023.

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 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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 5
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 13
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 7.1%; rating input score 7
  • Program expense ratio: 3.5%; rating input score 3
  • 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: -99.7%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 35.3%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: -39.1% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -35.7% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: -45% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 7.1% of revenue deployed · 3.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2K in reported program spending
  • Leadership: top reported pay $19K · 8 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2017 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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: Mission deployment rate scored 7/100.
  • High — Financial Efficiency: Program expense ratio scored 3/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.