Woodland String Band Inc

Nonprofit profile at a glance

EIN
232508106
IRS 990 coverage
2017–2022
Forms available
Form 990 2022
Location
Philadelphia, PA, USA
Rating
70
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Music

Reported finances

Revenue
$226,688
Expenses
$250,066
Assets
$287,160
Liabilities
$253,269

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • ROBERT DREGER JR (VICE PRESIDENT)
  • MICHAEL PRESSER (PRESIDENT)

People named in this filing

  • JAMES CUNNINGHAM (SARGEANT AT ARMS)
  • DANIEL GRIFFIN (SECRETARY)
  • GEORGE BALZER III (THEME CHAIRMAN)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission is to entertain, educate and provide benevolent services to the community. It is an a century old art in the philadelphia mummers parade that allow us to present a theatrical show to all ages.

What it reported doing in 2022

To educate and perform a philadelphia mummery tradition that dates back over a century. The use of funds allows the organization to purchase costumes, props, musical instruments, etc. The revenue is generated through perfomances such as parades and concerts. The expenses is for the cost of costumes and production.

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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 33
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.6%; rating input score 71
  • Program expense ratio: 64%; rating input score 64
  • Fundraising efficiency: $2.35 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 21st 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -10.3%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 1.15; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.88; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: -10.7% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -6.5% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 23.2% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 70.6% of revenue deployed · 64% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $160K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 6 filing years from 2017 to 2022
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 10/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 24/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.