The Residency

Nonprofit profile at a glance

EIN
844232460
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2063882995
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$531,389
Expenses
$323,622
Assets
$1,138,513
Liabilities
$12,152

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

Leadership & pay

3 people listed

Executive titles in this filing

  • JONATHAN CUNNINGHAM (PRESIDENT, TREASURER, DIRE)
  • BEN HAGGERTY (VICE PRESIDENT, DIRECTOR)

People named in this filing

  • JONATHAN CUNNINGHAM (PRESIDENT, TREASURER, DIRE)
  • BEN SECORD (SECRETARY, DIRECTOR)
  • BEN HAGGERTY (VICE PRESIDENT, DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The residency seeks to build a powerful community of young hip-hop artists equipped with the artistic and leadership skills, business acumen, and mentorship necessary to become professional artists and cultural change makers. Through their participation in the residency, young artists from low-income families acquire tangible artistic and professional skills while also gaining confidence, teamwork, and a deepened understanding of their own identity and power.

What it reported doing in 2024

Month long intensive workshop where up to 45 young people (ages 16-24) participate in either a vocal or production track. During the intensive, youth write original songs, record in a professional studio and perform in front of hundreds of people at a premiere seattle venue. In addition to making, recording and performing their music, the youth participate in a number of engaging panel discussions with leaders in the northwest creative community. The residency exists to break down barriers to equitable arts learning. We continue to center black, indigenous, & p.o.c identifying young artists from low-income families to help acquire tangible artistic and professional skills while also gaining confidence, teamwork, and a deepened understanding of their own identity and power. In an effort to address financial difficulties and to honor their work as artists, youth participants receive stipends at the completion of the residency. Further, participants receive subsidized transportation and meals throughout the residency to minimize potential challenges to full participation in the program.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 92% 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

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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.7%; rating input score 48
  • Program expense ratio: 77.7%; rating input score 78
  • Fundraising efficiency: $10.05 raised per $1 spent on fundraising; rating input score 38; 38th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • 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 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 39.1%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 3.52; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 19.3% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 20% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 38.9% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 47.7% of revenue deployed · 77.7% of spending went to programs
  • Governance: 3 of 3 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $252K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 48/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 38/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.