Southwest Florida Music Education Center Inc

Nonprofit profile at a glance

EIN
842825241
IRS 990 coverage
2021–2023
Forms available
Form 990 2023, Form 990-EZ 2020
Location
Naples, FL, USA
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Reported finances

Revenue
$1,143,466
Expenses
$2,558,055
Assets
$15,108,862
Liabilities
$9,630,576

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • Jennifer Clark (Executive Director)

Highest reported compensation

  • Jennifer Clark (Executive Director): $91,287 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Create a world-class music education center where neurodivergent students who have a strong interest in music and low to moderate support needs receive education in music and life skills, preparing them for meaningful growth opportunities that enrich their lives & the community.

What it reported doing in 2023

Provide music education and training to students, and helping students put on recitals for the community.

Operating model

Revenue model
Other-operating. 75% of the money available for current operations came from other operating 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 86.6%; rating input score 87
  • Fundraising efficiency: $3.92 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -123.7%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 5.91; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.64; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 57; 57th percentile among comparable filings

Growth

  • Program expense growth: 90.7% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 51.8% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 72.4% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 86.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.2M in reported program spending
  • Leadership: top reported pay $91K · 4 people listed
  • Highest-paid contractors: 1 contractor listed · $263K reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2021 to 2023
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 13/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Review — Sustainability: Officer compensation ratio scored 57/100.