Third Coast International Audio Festival

Nonprofit profile at a glance

EIN
264611880
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3129484682
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Media, Communications Organizations

Official website

Reported finances

Revenue
$141,853
Expenses
$230,129
Assets
$23,694
Liabilities
$113,625

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Jocelyn Robinson (President)
  • Jenny Asarnow (Vice President)

Highest reported compensation

  • Maya GOLDBERG-SAFIR (Frmr Co-Direct.): $76,224 total reported compensation
  • EMILY Kennedy (Frmr Co-Direct.): $42,556 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 cultivate a growing international culture of listening.

What it reported doing in 2024

1) Conference - For one weekend each fall, the Third Coast Conference transforms Chicago into the center of the audio universe bringing a community of over 800 audio producers, journalists, reporters & artists together from around the world for two and half days of curated conversation about the art and craft of audio storytelling. 2) Competition - The Third Coast / Richard H. Driehaus Foundation Competition seeks the best audio stories produced worldwide. Since 2001, the Third Coast / Richard H. Driehaus Foundation Competition has celebrated more than 200 extraordinary stories from four continents and has bestowed over $250,000 in cash prizes to many of the most innovative producers of the past two decades. 3) Production - The Organization works various productions through the year and also holds various live events throughout the year.

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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 4
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 69.4%; rating input score 69
  • Fundraising efficiency: $6.96 raised per $1 spent on fundraising; rating input score 30; 30th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -62.2%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0.1; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 4.8; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 51.6%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: -21% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -23.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -28.7% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 69.4% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $160K in reported program spending
  • Leadership: top reported pay $76K · 8 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 30/100.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.