Summit Choral Society Inc

Nonprofit profile at a glance

EIN
341658034
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Akron, OH, USA
Phone
3304347464
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music

Official website

Reported finances

Revenue
$381,499
Expenses
$379,514
Assets
$187,823
Liabilities
$3,761

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

Leadership & pay

24 people listed

Executive titles in this filing

  • JOE STORSIN JR (President)
  • BRIAN MOORE (Vice President)
  • MATT AKERS (Vice President)

Highest reported compensation

  • SHARA COCCHIOLA (Executive Dir.): $89,902 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide a continuum of musical training for young children through senior adults, produce exceptional choral performances and preserve the art of choral music for the enrichment and enjoyment of the greater akron community.

What it reported doing in 2024

The children's choir program consists of approximately 120 youth participants in grades k-12 and exists to provide classical vocal/choral training to the community's youth, performing 10 to 25 concerts each year.

Operating model

Revenue model
Donor-supported. 65% 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

SUPPORTED - 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: 51
  • Transparency & Controls: 85
  • Accountability: 74
  • Sustainability: 33
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.9%; rating input score 54
  • Program expense ratio: 52.7%; rating input score 53
  • Fundraising efficiency: $6.9 raised per $1 spent on fundraising; rating input score 29; 29th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th 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: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0.5%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 0.49; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 23.7%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 0.2% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 1% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: -1.5% per year; rating input score 0; 19th percentile among comparable filings

Details

  • Where the money goes: 53.9% of revenue deployed · 52.7% of spending went to programs
  • Governance: 22 of 22 board members independent · 3 of 8 filing controls reported
  • Programs: 5 filed program accomplishments · $200K in reported program spending
  • Leadership: top reported pay $90K · 24 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2011 to 2024
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 29/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.