Third Coast Percussion Nfp

Nonprofit profile at a glance

EIN
421744369
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
7732342712
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music

Reported finances

Revenue
$1,587,525
Expenses
$1,449,933
Assets
$675,667
Liabilities
$0

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

Leadership & pay

18 people listed

Executive titles in this filing

  • BETH DAVIS (VICE PRESIDENT)
  • ETHELBERT WILLIAMS (PRESIDENT)
  • DAVID SKIDMORE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • ROBERT DILLON (DIRECTOR, ENSEMBLE MEMBER): $90,380 total reported compensation
  • DAVID SKIDMORE (EXECUTIVE DIRECTOR): $86,858 total reported compensation

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

Overview

Mission

The mission of third coast percussion is to inspire and educate through the creation of exciting and unexpected musical experiences.

What it reported doing in 2024

Youth education and community engagement activites: third coast percussion provided 36 educational performances, classes, and clinics to k-12 schools, community centers, and colleges/universities throughout the u.s. As well as brazil, germany, and hong kong. Third coast percussion continued their chicago-based educational inititative "embark" in partnership with the people's music school and released multiple educational videos for online streaming platforms. As part of its ensemble-in-residence position at denison university, third coast percussion participated in the 3rd annual summer tutti performing arts camp for high school musicians.

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

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 55
  • Accountability: 92
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.5%; rating input score 66
  • Program expense ratio: 72.4%; rating input score 72
  • Fundraising efficiency: $4.29 raised per $1 spent on fundraising; rating input score 14; 14th 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: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.1%; rating input score 94; 25th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • 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: 8.7%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 12.2%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 10.5% per year; rating input score 100; 64th percentile among comparable filings
  • Revenue growth: 10.6% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 14.1% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 66.5% of revenue deployed · 72.4% of spending went to programs
  • Governance: 16 of 17 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $90K · 18 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors and foreign activity
  • Filing history: 10 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.