Weathervane Music Organization
Nonprofit profile at a glance
- EIN
- 274824232
- IRS 990-EZ coverage
- 2014–2024
- Forms available
- Form 990 2018, Form 990-EZ 2024
- Location
- Philadelphia, PA, USA
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts, Culture, and Humanities
Reported finances
- Revenue
- $136,358
- Expenses
- $119,521
- Assets
- $15,062
- Liabilities
- $4
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
People named in this filing
- BRIAN MCTEAR (EXEC. DIR/BO)
- WILLIAM ROBERTSON (SECRETARY)
- KRISTIN THOMSON (BOARD MEMBER)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To advance independent music, art, and the communities that surround them.
What it reported doing in 2024
Recording program this includes program activities previously reported separately as "shaking through", "open sessions", "recording workshops", and "edu program". The open sessions series is weathervane's newest experiment in non-profit music production and story telling. Each open session is a real recording session with an exciting new artist, held in front of a small audience. We capture video during the recording session to tell the artist's story and show the various stages and techniques of the recording process. Later, we release the music to our audience through digital channels (e.g. Youtube, streaming services, facebook, instagram, and tiktok), and like all weathervane recording programs, we share the multitracks from the recordings with donors and supporting members around the world. They download the high-quality production materials, remix them, and share their work back with the community on the weathervane website. In its second year, weathervane produced and released open sessions with two artists - philadelphia band gladie, and asheville, nc artist rachel angel. In addition, weathervane has continued to maintain its larger catalog of multitracks, making the recorded materials available to that same supporting member base dotted throughout the world. The recordings themselves were originally produced over the past 15 years for our previous shaking through series, recording workshops and other recording programs. Our "edu" line has continued, distributing educational materials for instructors and their students learning the art and science of recording music. Through this, weathervane takes an active voice in determining how the recording arts and sciences are taught in the modern day.
Operating model
- Revenue model
- Donor-supported. 84% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 66
- Transparency & Controls: 100
- Sustainability: 41
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 64%; rating input score 64
- Program expense ratio: 70%; rating input score 70
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 12.3%; rating input score 62; 62nd percentile among comparable filings
- Total-asset coverage ratio: 0.13; rating input score 13; 13th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 52; 52nd percentile among comparable filings
- Officer compensation ratio: 17.1%; rating input score 17; 17th percentile among comparable filings
Growth
- Program expense growth: -1.9% per year; rating input score 0; 25th percentile among comparable filings
- Revenue growth: -3.5% per year; rating input score 0; 11th percentile among comparable filings
- Asset growth: -14% per year; rating input score 0; 9th percentile among comparable filings
Details
- Where the money goes: 64% of revenue deployed · 70% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments · $84K in reported program spending
- Leadership: top reported pay $0 · 5 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 3 filed schedules
- Filing history: 10 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- 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.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 13/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 17/100.
- Review — Sustainability: Liabilities to assets ratio scored 52/100.