Rhapsody Arts Center Inc
Rhapsody Arts Center Inc. consistently operates near break-even with no reported officer compensation.
EIN: 205073641 · Verona, WI · NTEE: A25 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $332K |
| Total Expenses | $335K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $300k |
| Net Assets | $47K |
| Transparency Score | 85/100 |
Is Rhapsody Arts Center Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rhapsody Arts Center Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rhapsody Arts Center Inc
Rhapsody Arts Center Inc (EIN: 205073641) is a nonprofit organization based in Verona, WI, classified under NTEE code A25. The organization reported total revenue of $332K and total assets of $66K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rhapsody Arts Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rhapsody Arts Center Inc is a small nonprofit that has been operating for 19 years, with 7 years of IRS 990 filings on record (2012–2018). Revenue has grown at a compound annual rate of -2.8%.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
| Total Revenue | $332K |
| Total Expenses | $335K |
| Surplus / Deficit | $-3,793 |
| Total Assets | $66K |
| Total Liabilities | $19K |
| Net Assets | $47K |
| Operating Margin | -1.1% |
| Debt-to-Asset Ratio | 28.6% |
| Months of Reserves | 2.4 months |
Financial Health Grade: C
In 2018, Rhapsody Arts Center Inc reported a deficit of $4K with expenses exceeding revenue, holds 2.4 months of operating reserves (limited), has a debt-to-asset ratio of 28.6% (moderate leverage).
Financial Trends
Over 7 years of filings (2012–2018), Rhapsody Arts Center Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | -7.9% | -4.2% | -16.3% |
| 2017 | +12.0% | +3.5% | +27.3% |
| 2016 | -6.4% | -0.2% | -33.1% |
| 2015 | -5.1% | -4.8% | -10.2% |
| 2014 | -2.2% | -1.9% | +29.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Rhapsody Arts Center Inc with a Mission Score of 85 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Rhapsody Arts Center Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $4K, with expenses exceeding revenue.
- Debt-to-asset ratio: 28.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all seven available filings, indicating that no officers received compensation from the organization, which is highly favorable for a nonprofit of its size with annual revenues around $300k-$400k.
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.
Strengths
The following positive indicators were identified for Rhapsody Arts Center Inc:
- Consistent financial reporting over seven years.
- 0% officer compensation reported across all filings, indicating efficient use of funds.
- Revenues and expenses are consistently balanced, suggesting stable operations.
- Manageable liabilities relative to assets (e.g., $18,861 liabilities vs. $65,862 assets in 201806).
Frequently Asked Questions about Rhapsody Arts Center Inc
Is Rhapsody Arts Center Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Rhapsody Arts Center Inc (EIN: 205073641) appears legitimate. Mission Score: 85/100. 0 red flags identified, 4 strengths noted.
How does Rhapsody Arts Center Inc spend its money?
Rhapsody Arts Center Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Rhapsody Arts Center Inc tax-deductible?
Rhapsody Arts Center Inc is registered as a tax-exempt nonprofit (EIN: 205073641). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Rhapsody Arts Center Inc CEO make?
Rhapsody Arts Center Inc's highest-compensated officer earns $300k annually. The organization reported $332K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Rhapsody Arts Center Inc's spending goes to programs?
Rhapsody Arts Center Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Rhapsody Arts Center Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Rhapsody Arts Center Inc is above average for NTEE category A25 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Rhapsody Arts Center Inc located?
Rhapsody Arts Center Inc is headquartered in Verona, Wisconsin and files with the IRS under EIN 205073641. It is classified under NTEE code A25.
How many years of IRS 990 filings does Rhapsody Arts Center Inc have?
Rhapsody Arts Center Inc has 7 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 $332K in total revenue.
Is Rhapsody Arts Center Inc. financially stable?
Yes, Rhapsody Arts Center Inc. appears financially stable, consistently operating near break-even with revenues closely matching expenses over seven years. For example, in 201806, revenue was $331,673 and expenses were $335,466.
Does Rhapsody Arts Center Inc. pay its executives?
No, Rhapsody Arts Center Inc. has reported 0% officer compensation in all available IRS 990 filings, indicating no salaries paid to its officers.
How transparent is Rhapsody Arts Center Inc.?
Rhapsody Arts Center Inc. demonstrates good transparency through its consistent filing of IRS Form 990s for seven consecutive periods and the clear reporting of 0% officer compensation.
Filing History
IRS 990 filing history for Rhapsody Arts Center Inc showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2012–2018), Rhapsody Arts Center Inc's revenue has declined by 15.7%, moving from $393K to $332K. Total assets decreased by 16.4% over the same period, from $79K to $66K. Total functional expenses fell by 11%, from $377K to $335K. In its most recent filing year (2018), Rhapsody Arts Center Inc reported a deficit of $4K, with expenses exceeding revenue. The organization holds $19K in liabilities against $66K in assets (debt-to-asset ratio: 28.6%), resulting in net assets of $47K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2018 | $332K | $335K | $66K | $19K | — | View 990 |
| 2017 | $360K | $350K | $79K | $28K | — | View 990 |
| 2016 | $322K | $338K | $62K | $21K | — | View 990 |
| 2015 | $343K | $339K | $92K | $6K | — | View 990 |
| 2014 | $362K | $356K | $103K | $21K | — | View 990 |
| 2013 | $370K | $363K | $80K | $3K | — | View 990 |
| 2012 | $393K | $377K | $79K | $10K | — | View 990 |
Year-by-Year Financial Summary
- 2018: Revenue of $332K, expenses of $335K, and assets of $66K (revenue -7.9% year-over-year).
- 2017: Revenue of $360K, expenses of $350K, and assets of $79K (revenue +12.0% year-over-year).
- 2016: Revenue of $322K, expenses of $338K, and assets of $62K (revenue -6.4% year-over-year).
- 2015: Revenue of $343K, expenses of $339K, and assets of $92K (revenue -5.1% year-over-year).
- 2014: Revenue of $362K, expenses of $356K, and assets of $103K (revenue -2.2% year-over-year).
- 2013: Revenue of $370K, expenses of $363K, and assets of $80K (revenue -5.9% year-over-year).
- 2012: Revenue of $393K, expenses of $377K, and assets of $79K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rhapsody Arts Center Inc:
Data Sources and Methodology
This transparency report for Rhapsody Arts Center 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.