The Studio
Nonprofit profile at a glance
- EIN
- 261859468
- IRS 990-EZ coverage
- 2010–2024
- Forms available
- Form 990-EZ 2024, Form 990-T 2024
- Location
- Centreville, AL, USA
- Phone
- 2059262992
- Rating
- 96
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Performing Arts Organizations
Reported finances
- Revenue
- $113,674
- Expenses
- $117,254
- Assets
- $12,198
- Liabilities
- $2,326
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
2 people listed
Executive titles in this filing
- JOHN B WAITS (PRESIDENT)
People named in this filing
- JOHN B WAITS (PRESIDENT)
- RACHEL WAITS (DIRECTOR/OPERATIONS)
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 provide music and dance education, instruction, as well as supplemental educational training in the field of the arts for the benefit of a rural community that is not adequately served in this respect.
What it reported doing in 2024
Fine art instruction - to provide music and dance education, instruction, as well as supplemental educational training in the field of the arts for the benefit of a rural community that is not adequately served in this respect
Operating model
- Revenue model
- Earned-program. 86% of the money available for current operations came from fees and other program 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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 100
- Transparency & Controls: 100
- Sustainability: 25
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 99.2%; rating input score 99
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: -3.1%; rating input score 25; 25th percentile among comparable filings
- Total-asset coverage ratio: 0.1; rating input score 11; 11th percentile among comparable filings
- Liabilities to assets ratio: 0.19; rating input score 19; 19th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 4% per year; rating input score 100; 44th percentile among comparable filings
- Revenue growth: 3.4% per year; rating input score 100; 39th percentile among comparable filings
- Asset growth: 6% per year; rating input score 100; 48th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 99.2% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $116K in reported program spending
- Leadership: top reported pay $0 · 2 people listed
- Consistency: 8 of 8 current checks pass
- Schedules: 3 filed schedules
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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 — Sustainability: Operating margin scored 25/100.
- High — Sustainability: Total-asset coverage ratio scored 11/100.
- High — Sustainability: Liabilities to assets ratio scored 19/100.