Soul Summit Music Inc

Nonprofit profile at a glance

EIN
473134260
IRS 990-EZ coverage
2015–2024
Forms available
Form 990-EZ 2024
Location
Brooklyn, NY, USA
Phone
8887187685
Rating
39
Verdict
REVIEW
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$87,732
Expenses
$92,090
Assets
$5,720

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

Leadership & pay

3 people listed

Executive titles in this filing

  • LEONARDO BELLAMY (PRESIDENT)

People named in this filing

  • LEONARDO BELLAMY (PRESIDENT)
  • MICHAEL A BUTLER (TREASURER)
  • JEFFEERY K MENDOZA (SECRETARY)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose is to provide free outdoor festivals to the people of various local communities throughout New York City, NY.These festivals will include poetry, drumming, face painting, live

What it reported doing in 2024

During 2024 We were able to put on two free outdoor events for which over 18,000 thousand attended.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
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 program spending has grown recently. 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: 26
  • Growth: 100

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; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -5%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.06; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 25% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 18.2% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 21.5% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 10 filing years from 2015 to 2024
  • 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.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.