Foundation Music School Inc
Foundation Music School Inc. shows consistent revenue growth but experienced a deficit in its latest fiscal period.
EIN: 204421806 · Fort Collins, CO · NTEE: A68 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $836K |
| Total Expenses | $825K |
| Program Spending | 85% |
| Net Assets | $245K |
| Transparency Score | 88/100 |
Is Foundation Music School Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Foundation Music School Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Foundation Music School Inc
Foundation Music School Inc (EIN: 204421806) is a nonprofit organization based in Fort Collins, CO, classified under NTEE code A68. The organization reported total revenue of $836K and total assets of $186K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foundation Music School Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Foundation Music School Inc is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 13.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $743K |
| Total Expenses | $825K |
| Surplus / Deficit | $-81,642 |
| Total Assets | $247K |
| Total Liabilities | $2K |
| Net Assets | $245K |
| Operating Margin | -11.0% |
| Debt-to-Asset Ratio | 0.7% |
| Months of Reserves | 3.6 months |
Financial Health Grade: B
In 2023, Foundation Music School Inc reported a deficit of $82K with expenses exceeding revenue, holds 3.6 months of operating reserves (adequate), has a debt-to-asset ratio of 0.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Foundation Music School Inc's revenue has grown at a compound annual growth rate (CAGR) of 13.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -13.7% | +1.9% | -24.5% |
| 2022 | +26.0% | +20.2% | -10.6% |
| 2021 | -1.2% | +4.0% | +30.1% |
| 2020 | +8.3% | +8.2% | +10.1% |
| 2019 | +7.9% | +8.1% | +9.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Foundation Music School Inc with a Mission Score of 88 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Foundation Music School Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $82K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation, which is highly unusual for an organization of this size and suggests a volunteer-led or very lean administrative structure.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Foundation Music School Inc's IRS 990 filings:
- Expenses exceeded revenue in the most recent fiscal period (202308), leading to a deficit.
- Significant decrease in assets from $326,525 in 202208 to $246,615 in 202308.
Strengths
The following positive indicators were identified for Foundation Music School Inc:
- Consistent history of revenue growth over the past decade.
- 0% officer compensation reported across all filings, indicating strong commitment to mission spending.
- Accumulated assets provide a financial cushion despite recent deficit.
- Clear alignment between NTEE code (Music) and organizational name, suggesting focused mission.
Frequently Asked Questions about Foundation Music School Inc
Is Foundation Music School Inc a legitimate charity?
Foundation Music School Inc (EIN: 204421806) is a registered tax-exempt nonprofit based in Colorado. Our AI analysis gives it a Mission Score of 88/100. It has 13 years of IRS 990 filings on record. Total revenue: $836K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Foundation Music School Inc spend its money?
Foundation Music School Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Foundation Music School Inc tax-deductible?
Foundation Music School Inc is registered as a tax-exempt nonprofit (EIN: 204421806). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Foundation Music School Inc's spending goes to programs?
Foundation Music School Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Foundation Music School Inc compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Foundation Music School Inc is above average for NTEE category A68 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Foundation Music School Inc located?
Foundation Music School Inc is headquartered in Fort Collins, Colorado and files with the IRS under EIN 204421806. It is classified under NTEE code A68.
How many years of IRS 990 filings does Foundation Music School Inc have?
Foundation Music School Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $836K in total revenue.
Is Foundation Music School Inc. financially stable given the recent deficit?
While the 202308 filing shows expenses ($824,895) exceeding revenue ($743,253), the organization has a history of positive net income and accumulated assets ($246,615 in 202308), suggesting it has reserves to cover short-term deficits. However, sustained deficits would impact long-term stability.
How does the 0% officer compensation impact the organization?
The 0% officer compensation indicates that leadership roles are likely filled by volunteers or compensated through other means not classified as officer compensation. This can be a strength in terms of directing more funds to programs but could also raise questions about sustainability of leadership without direct compensation.
What caused the decrease in assets from 202208 to 202308?
Assets decreased from $326,525 in 202208 to $246,615 in 202308. This could be due to the deficit incurred in 202308, investments in programs, or other operational expenditures. Further detailed financial statements would be needed to pinpoint the exact cause.
Filing History
IRS 990 filing history for Foundation Music School Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Foundation Music School Inc's revenue has grown by 339.4%, moving from $169K to $743K. Total assets increased by 838.1% over the same period, from $26K to $247K. Total functional expenses rose by 406%, from $163K to $825K. In its most recent filing year (2023), Foundation Music School Inc reported a deficit of $82K, with expenses exceeding revenue. The organization holds $2K in liabilities against $247K in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $245K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $743K | $825K | $247K | $2K | — | View 990 |
| 2022 | $861K | $809K | $327K | $70 | — | View 990 |
| 2021 | $684K | $674K | $365K | $90K | — | View 990 |
| 2020 | $692K | $647K | $281K | $16K | — | View 990 |
| 2019 | $639K | $598K | $255K | $35K | — | View 990 |
| 2018 | $592K | $553K | $232K | $53K | — | View 990 |
| 2017 | $522K | $481K | $211K | $70K | — | View 990 |
| 2016 | $457K | $447K | $100K | $119 | — | View 990 |
| 2015 | $419K | $393K | $90K | $99 | — | View 990 |
| 2014 | $366K | $345K | $64K | $109 | — | View 990 |
| 2013 | $299K | $292K | $43K | $178 | — | View 990 |
| 2012 | $254K | $245K | $35K | $175 | — | View 990 |
| 2011 | $169K | $163K | $26K | $87 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $743K, expenses of $825K, and assets of $247K (revenue -13.7% year-over-year).
- 2022: Revenue of $861K, expenses of $809K, and assets of $327K (revenue +26.0% year-over-year).
- 2021: Revenue of $684K, expenses of $674K, and assets of $365K (revenue -1.2% year-over-year).
- 2020: Revenue of $692K, expenses of $647K, and assets of $281K (revenue +8.3% year-over-year).
- 2019: Revenue of $639K, expenses of $598K, and assets of $255K (revenue +7.9% year-over-year).
- 2018: Revenue of $592K, expenses of $553K, and assets of $232K (revenue +13.4% year-over-year).
- 2017: Revenue of $522K, expenses of $481K, and assets of $211K (revenue +14.4% year-over-year).
- 2016: Revenue of $457K, expenses of $447K, and assets of $100K (revenue +8.9% year-over-year).
- 2015: Revenue of $419K, expenses of $393K, and assets of $90K (revenue +14.6% year-over-year).
- 2014: Revenue of $366K, expenses of $345K, and assets of $64K (revenue +22.3% year-over-year).
- 2013: Revenue of $299K, expenses of $292K, and assets of $43K (revenue +18.0% year-over-year).
- 2012: Revenue of $254K, expenses of $245K, and assets of $35K (revenue +49.9% year-over-year).
- 2011: Revenue of $169K, expenses of $163K, and assets of $26K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Foundation Music School Inc:
Data Sources and Methodology
This transparency report for Foundation Music School Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.