Tipitinas Foundation Inc

Nonprofit profile at a glance

EIN
562343978
IRS 990 coverage
2010–2017
Forms available
Form 990 2017
Location
New Orleans, LA, USA
Phone
5045580204
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music Groups, Bands, Ensembles

Official website

Reported finances

Revenue
$910,654
Expenses
$1,002,720
Assets
$686,837
Liabilities
$512,337

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

6 people listed

People named in this filing

  • ROLAND VON KURNATOWSKI (Director)
  • DR ERIC GEORGE (Director)
  • DOUG KILTON (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 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Creation and support of community activities and events designed to fund and develop music and entertainment arts in Louisiana public schools

What it reported doing in 2017

The tipitina's internship program is designed to help develop musicianship skills, recording studio experience, and business acumen. The program allows a diverse group of students to become immersed in the music industry.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
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 the filed numbers largely add up. A relatively small share of voting board members are independent and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 90
  • Accountability: 30
  • Sustainability: 28
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 75%; rating input score 75
  • Program expense ratio: 67.9%; rating input score 68
  • Fundraising efficiency: $10.53 raised per $1 spent on fundraising; rating input score 43; 43rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -10.1%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.68; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.75; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: -15.4% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 75% of revenue deployed · 67.9% of spending went to programs
  • Governance: 0 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $681K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 8 filing years from 2010 to 2017
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 43/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.