South Dakota Rock and Roll Music Association

Nonprofit profile at a glance

EIN
651301539
IRS 990-EZ coverage
2021–2024
Forms available
Form 990-EZ 2024
Location
Sioux Falls, SD, USA
Rating
93
Verdict
STRONG
Rating confidence
Moderate
Sector
Museum, Museum Activities

Reported finances

Revenue
$24,310
Expenses
$51,650
Assets
$44,806

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

Leadership & pay

13 people listed

Executive titles in this filing

  • MICHAEL CORNETTE (PRESIDENT)
  • GEOFF GUNDERSON (VICE PRESIDENT)

People named in this filing

  • MICHAEL CORNETTE (PRESIDENT)
  • GEOFF GUNDERSON (VICE PRESIDENT)
  • JOHN FIKSDAL (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

To honor recognize individuals groups who were instrumental in the development of Rock and Roll in the State of South Dakota and to advance and foster education of the history of that music.

What it reported doing in 2024

Provide services in support of the primary exempt purposes of the organization, including office support, a display exhibit and maintenance thereof, web site, licensing fees, rent, and related expenses.

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 90% 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

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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 100
  • Transparency & Controls: 100
  • Sustainability: 22
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: -112.5%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0.87; rating input score 42; 42nd 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: 20% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: -29.2% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -4.4% per year; rating input score 0; 25th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $52K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2021 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.

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 7/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.