Songfarm Philanthropic Ventures

Nonprofit profile at a glance

EIN
842380954
IRS 990-EZ coverage
2019–2022
Forms available
Form 990-EZ 2022
Location
Nashville, TN, USA
Phone
6158870284
Rating
38
Verdict
REVIEW
Rating confidence
Moderate
Sector
Music

Reported finances

Revenue
$15,729
Expenses
$5,100
Assets
$32,588
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Rachel Bepko (Executive Director)
  • Ross Copperman (President)
  • Frank Reid Shippen (Vice President)

People named in this filing

  • Rachel Bepko (Executive Director)
  • Ross Copperman (President)
  • Frank Reid Shippen (Vice President)

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

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

Overview

Mission

SongFarm is building a coalition of musicians, educators and businesses who work collaboratively to build music creation spaces in secondary schools. SongFarm partners successful songwriters with their alma maters to provide free, functioning, professional songwriting and production studios on their former campuses. These studios allow students to have access to professional music equipment at their own schools, in the context of their own classes. They also provide music educators with the equipment and technology that are requisite to teaching students modern skill sets for music and film industries. SongFarm is committed to providing ongoing curricula, mentorship and an alumni network that connects all SongFarm participants in the learning process.

What it reported doing in 2022

The successful purchase, installation and staffing of professional music studios in Shelby Valley High School, Whites Creek High School, and Mineral Wells High School, which did not previously have music programs.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. 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: 0
  • Transparency & Controls: 82
  • Sustainability: 85
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 67.6%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 6.39; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -73.2% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -9.4% per year; rating input score 0; 28th percentile among comparable filings
  • Asset growth: 25.5% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 3 filed program accomplishments
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 4 filing years from 2019 to 2022
  • Contacts: How to reach this organization
  • 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 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.