Teton Valley Foundation

Nonprofit profile at a glance

EIN
870766886
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2013
Location
Victor, ID, USA
Phone
2089707486
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$958,869
Expenses
$1,003,156
Assets
$526,666
Liabilities
$181,331

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

Leadership & pay

13 people listed

Executive titles in this filing

  • Megan LaTorre (Executive Director)
  • John Rockefeller (Interim Executive Director)

Highest reported compensation

  • Megan LaTorre (Executive Director): $79,392 total reported compensation
  • John Rockefeller (Interim Executive Director): $24,770 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 make the good life in Teton Valley even better for residents and visitors alike through recreational and cultural programs that create community connections and enhance the local economy.

What it reported doing in 2024

Music on Main is a free, donation-based summer concert series operated by Teton Valley Foundation that provides accessible arts and cultural programming for residents and visitors throughout Teton Valley. Held weekly in Victor City Park, the eight-week series attracts approximately 3,500 attendees per concert, welcoming more than 28,000 attendees over the course of each summer season.The program removes financial barriers to participation by offering high-quality live music performances at no cost to attendees, ensuring broad access for individuals and families of all ages, backgrounds, and income levels. In addition to nationally and regionally touring musical acts, Music on Main provides opportunities for local nonprofits, artists, vendors, and community organizations to engage with the public.Music on Main serves as a significant driver of community connection and economic activity, drawing visitors from throughout the Greater Yellowstone region and supporting local restaurants, retailers, lodging providers, and other businesses. The series is made possible through the support of sponsors, donors, and more than 80 community volunteers who contribute over 400 volunteer shifts each season.By providing free access to arts and culture in a rural community, Music on Main strengthens quality of life, fosters social connection, promotes community pride, and contributes to the economic vitality of Teton Valley.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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: 69
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.3%; rating input score 95
  • Program expense ratio: 81.9%; rating input score 82
  • Fundraising efficiency: $16.8 raised per $1 spent on fundraising; rating input score 54; 54th 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: 2 of 8 controls in place; rating input score 25
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.6%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.53; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 10.4%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 10.7% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 8.9% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 10.8% per year; rating input score 100; 61st percentile among comparable filings

Details

  • Where the money goes: 95.3% of revenue deployed · 81.9% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $822K in reported program spending
  • Leadership: top reported pay $79K · 13 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 54/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.