Virtuosi of Houston

Nonprofit profile at a glance

EIN
760509062
IRS 990 coverage
2018–2023
Forms available
Form 990 2023
Location
Houston, TX, USA
Phone
7134630801
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$163,685
Expenses
$200,118
Assets
$98,352
Liabilities
$79,274

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • SUSAN P DEBAKEY (PRESIDENT)
  • KAREN NEEDHAM (EXECUTIVE DIRECTOR)

Highest reported compensation

  • KAREN NEEDHAM (EXECUTIVE DIRECTOR): $65,808 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Virtuosi of houston was formed to create a pre-professional climate and performance opportunities for houston's most focused young musicians (11 18 years of age), regardless of race, religion or financial status and to bring an expanded repertoire of chamber orchestra works to houston audiences.

What it reported doing in 2023

The virtuosi of houston season is comprised of three chamber orchestra performances. There are a total of 10 rehearsals, five weeks prior to the concert, for each of the three concerts. Our artistic directors and conductors are franz anton krager and andrzej grabiec both professors at the moores school of music, university of houston, with more than 50 years of conducting and performing experience between them. While one maestro is conducting, the other maestro is instructing the musicians as they are playing the correct and improved techniques on fingering, holding the instrument, pitch, sound etc. This is the true difference between our orchestra and the other youth orchestras.

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 the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 16
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.5%; rating input score 96
  • Program expense ratio: 78.9%; rating input score 79
  • Fundraising efficiency: Limited

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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -22.3%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.49; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 32.9%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: -3.5% per year; rating input score 0; 21st percentile among comparable filings
  • Revenue growth: -12.7% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: 16% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 96.5% of revenue deployed · 78.9% of spending went to programs
  • Governance: 6 of 6 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $158K in reported program spending
  • Leadership: top reported pay $66K · 7 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2018 to 2023
  • 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 — Sustainability: Operating margin scored 14/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.