Triangle Youth Music Inc

Nonprofit profile at a glance

EIN
581818884
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-T 2021
Location
Cary, NC, USA
Phone
9196458434
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$671,600
Expenses
$626,181
Assets
$583,780
Liabilities
$57,519

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

Leadership & pay

13 people listed

Executive titles in this filing

  • CHRISTIN DANCHI (PRESIDENT)

Highest reported compensation

  • SARAH WHITNEY (EXECUTIVE DI): $92,400 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 is to provide an opportunity for young musicians to learn, understand, and perform all genres of great classical and jazz music and to provide training to promote the students' participation in and lifelong understanding and love of great classical and jazz music.

What it reported doing in 2024

The association seeks to foster the love of great music in young musicians by sponsoring eight musical ensembles. These ensembles include three full symphony orchestras and three string orchestras that study and perform great classical music. The different orchestras seeks to provide opportunities to 4th through 12th grade musicians of various levels of proficiency. The triangle youth philmarmonic is the most advanced group; the triangle youth symphony is for moderately advanced musicians; the triangle youth orchestra is for intermediate students; the triangle youth string sinfonia and the triangle youth string orchestra are for young string players to develop their skills; and the triangle youth jazz ensemble is for high school students interested in permorming the best of the big band jazz literature.

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. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.7%; rating input score 75
  • Program expense ratio: 79.8%; rating input score 80
  • Fundraising efficiency: $17.12 raised per $1 spent on fundraising; rating input score 54; 54th 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: 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 6.8%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0.93; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 14.8%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 9.9% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 11% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 74.7% of revenue deployed · 79.8% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $500K in reported program spending
  • Leadership: top reported pay $92K · 13 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 54/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.