Vermont Music & Arts Association Inc

Nonprofit profile at a glance

EIN
222873622
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Easthampton, MA, USA
Phone
4135591336
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts Education

Reported finances

Revenue
$196,588
Expenses
$292,164
Assets
$219,705
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • CECILIA SWEENEY (VICE PRESIDENT)
  • VIRGINIA FITZGERALD (PRESIDENT)

Highest reported compensation

  • JUDITH TERWILLIGER (PROGRAM COORDINATER): $5,089 total reported compensation

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

Overview

Mission

Vmac operates three 1-week fully coached workshops to promote the playing of chamber music by adult non-professionals. This season 86 people participated.

What it reported doing in 2024

Our three 1-week workshop sessions included room, board and tuition for adult non professional chamber musicians. All expenses directly supported program services.

Operating model

Revenue model
Earned-program. 90% 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. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 69
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90%; rating input score 90
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -48.6%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 0.75; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 1.7%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 48% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 28.7% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $263K in reported program spending
  • Leadership: top reported pay $5K · 9 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 5/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.