Rockport Music Inc
Rockport Music: Strong Assets, Inconsistent Revenue, and Transparency Gaps
EIN: 222479696 · Rockport, MA · NTEE: A680 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $6.0M |
| Total Expenses | $2.6M |
| Program Spending | 75% |
| Net Assets | $30.5M |
| Transparency Score | 85/100 |
Is Rockport Music Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rockport Music Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rockport Music Inc
Rockport Music Inc (EIN: 222479696) is a nonprofit organization based in Rockport, MA, classified under NTEE code A680. The organization reported total revenue of $6.0M and total assets of $33.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rockport Music Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rockport Music Inc is a mid-size nonprofit that has been operating for 42 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.5M |
| Total Expenses | $2.6M |
| Surplus / Deficit | $-139,048 |
| Total Assets | $31.4M |
| Total Liabilities | $825K |
| Net Assets | $30.5M |
| Operating Margin | -5.7% |
| Debt-to-Asset Ratio | 2.6% |
| Months of Reserves | 144.8 months |
Financial Health Grade: B
In 2023, Rockport Music Inc reported a deficit of $139K with expenses exceeding revenue, holds 144.8 months of operating reserves (strong position), has a debt-to-asset ratio of 2.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Rockport Music Inc's revenue has declined at a compound annual growth rate (CAGR) of -1.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -57.4% | -47.8% | +0.6% |
| 2022 | +87.5% | +75.0% | -10.6% |
| 2021 | -17.3% | -21.8% | +9.6% |
| 2020 | -26.8% | -26.1% | +2.3% |
| 2019 | -21.3% | +3.2% | +0.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
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 Rockport Music 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: 75%
- fundraising: 10%
According to IRS 990 filings, Rockport Music Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $139K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.6%.
Executive Compensation Analysis
Executive compensation is not disclosed in the provided data, making a direct assessment impossible without further filings.
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 Rockport Music Inc's IRS 990 filings:
- Revenue has been highly inconsistent, ranging from $2,459,031 in 2023 to $10,029,356 in 2017, indicating potential instability in funding streams.
- The most recent filing (202303) shows expenses ($2,598,079) exceeding revenue ($2,459,031), resulting in a deficit for that period.
- Lack of detailed executive compensation information in the provided data is a red flag for transparency.
Strengths
The following positive indicators were identified for Rockport Music Inc:
- The organization maintains substantial assets, with $31,355,599 in 2023, providing a strong financial cushion.
- Despite revenue fluctuations, total assets have remained robust over the years, demonstrating good asset management.
- The organization has consistently reported 0% compensation to officers, directors, trustees, and key employees in the provided filings, which is a positive indicator of resource allocation to mission.
Frequently Asked Questions about Rockport Music Inc
Is Rockport Music Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Rockport Music Inc (EIN: 222479696) some concerns. Mission Score: 85/100. 3 red flags identified, 3 strengths noted.
How does Rockport Music Inc spend its money?
Rockport Music Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Rockport Music Inc tax-deductible?
Rockport Music Inc is registered as a tax-exempt nonprofit (EIN: 222479696). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Rockport Music Inc's spending goes to programs?
Rockport Music Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Rockport Music Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Rockport Music Inc is above average for NTEE category A680 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Rockport Music Inc located?
Rockport Music Inc is headquartered in Rockport, Massachusetts and files with the IRS under EIN 222479696. It is classified under NTEE code A680.
How many years of IRS 990 filings does Rockport Music Inc have?
Rockport Music 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 $6.0M in total revenue.
What does Rockport Music Inc do?
Rockport Music Inc is a nonprofit organization in the Arts, Culture & Humanities sector, located in Rockport, Massachusetts. It is classified under NTEE code A680.
How much revenue does Rockport Music Inc have?
Rockport Music Inc reported total revenue of $5,970,827. Based on 13 IRS 990 filings on record.
What are Rockport Music Inc's total assets?
Rockport Music Inc holds total assets of $33,403,265 as reported in IRS 990 filings.
Where is Rockport Music Inc located?
Rockport Music Inc is based in Rockport, Massachusetts.
What is Rockport Music Inc's EIN?
Rockport Music Inc's Employer Identification Number (EIN) is 222479696. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Rockport Music Inc?
Rockport Music Inc is classified under NTEE code A680 (Arts, Culture & Humanities).
Is Rockport Music Inc a registered 501(c)(3)?
Yes, Rockport Music Inc is recognized as a tax-exempt organization by the IRS. EIN: 222479696.
Does Rockport Music Inc file IRS Form 990?
Yes, Rockport Music Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202303.
What was Rockport Music Inc's revenue in 2023?
In the 202303 filing period, Rockport Music Inc reported total revenue of $2,459,031, total expenses of $2,598,079, and net assets of $31,355,599.
Is Rockport Music Inc's revenue growing or declining?
Rockport Music Inc's revenue is declining. Revenue went from $5,770,125 (202208) to $2,459,031 (202303), a -57.4% change. Based on 13 filings on record.
What is Rockport Music Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Rockport Music Inc covers tax period 202303. It shows revenue of $2,459,031, expenses of $2,598,079, total assets of $31,355,599, and liabilities of $824,745.
How much does Rockport Music Inc spend on programs vs administration?
Based on IRS 990 analysis, Rockport Music Inc allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Rockport Music Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Rockport Music Inc appears trustworthy. Mission Score: 85/100 (Excellent). 3 red flags identified. 3 strengths noted.
What are the red flags for Rockport Music Inc?
The following concerns were identified: Revenue has been highly inconsistent, ranging from $2,459,031 in 2023 to $10,029,356 in 2017, indicating potential instability in funding streams.. The most recent filing (202303) shows expenses ($2,598,079) exceeding revenue ($2,459,031), resulting in a deficit for that period.. Lack of detailed executive compensation information in the provided data is a red flag for transparency.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Rockport Music Inc's strengths?
Positive indicators for Rockport Music Inc include: The organization maintains substantial assets, with $31,355,599 in 2023, providing a strong financial cushion.. Despite revenue fluctuations, total assets have remained robust over the years, demonstrating good asset management.. The organization has consistently reported 0% compensation to officers, directors, trustees, and key employees in the provided filings, which is a positive indicator of resource allocation to mission.. These findings are derived from AI analysis of the organization's financial filings.
How does Rockport Music Inc compensate executives?
Executive compensation is not disclosed in the provided data, making a direct assessment impossible without further filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the significant fluctuations in revenue, what strategies does Rockport Music employ to ensure long-term financial sustainability and program delivery?
The data shows revenue ranging from $2.4M to $10M over the past 7 years. While assets are strong, understanding the underlying causes of these revenue swings and the strategies to mitigate them is crucial for assessing long-term viability.
How does Rockport Music manage its substantial assets (over $31M in 2023) to directly support its mission, especially when annual revenues are significantly lower?
With assets far exceeding annual revenues, it's important to understand if these assets are primarily endowment-based, restricted, or actively utilized to fund operations and programs, particularly during periods of lower revenue.
Filing History
IRS 990 filing history for Rockport Music Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Rockport Music Inc's revenue has declined by 17.9%, moving from $3.0M to $2.5M. Total assets increased by 45% over the same period, from $21.6M to $31.4M. Total functional expenses fell by 3.4%, from $2.7M to $2.6M. In its most recent filing year (2023), Rockport Music Inc reported a deficit of $139K, with expenses exceeding revenue. The organization holds $825K in liabilities against $31.4M in assets (debt-to-asset ratio: 2.6%), resulting in net assets of $30.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.5M | $2.6M | $31.4M | $825K | — | View 990 |
| 2022 | $5.8M | $5.0M | $31.2M | $724K | — | View 990 |
| 2021 | $3.1M | $2.8M | $34.9M | $3.8M | — | View 990 |
| 2020 | $3.7M | $3.6M | $31.8M | $3.1M | — | View 990 |
| 2019 | $5.1M | $4.9M | $31.1M | $3.2M | — | View 990 |
| 2018 | $6.5M | $4.8M | $31.0M | $3.2M | — | View 990 |
| 2017 | $10.0M | $4.2M | $26.7M | $561K | — | View 990 |
| 2016 | $6.0M | $4.1M | $21.0M | $701K | — | View 990 |
| 2015 | $4.7M | $3.9M | $19.3M | $911K | — | View 990 |
| 2014 | $3.5M | $3.7M | $18.8M | $1.3M | — | View 990 |
| 2013 | $3.2M | $3.5M | $19.6M | $1.9M | — | View 990 |
| 2012 | $5.2M | $3.1M | $21.5M | $3.5M | — | View 990 |
| 2011 | $3.0M | $2.7M | $21.6M | $5.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.5M, expenses of $2.6M, and assets of $31.4M (revenue -57.4% year-over-year).
- 2022: Revenue of $5.8M, expenses of $5.0M, and assets of $31.2M (revenue +87.5% year-over-year).
- 2021: Revenue of $3.1M, expenses of $2.8M, and assets of $34.9M (revenue -17.3% year-over-year).
- 2020: Revenue of $3.7M, expenses of $3.6M, and assets of $31.8M (revenue -26.8% year-over-year).
- 2019: Revenue of $5.1M, expenses of $4.9M, and assets of $31.1M (revenue -21.3% year-over-year).
- 2018: Revenue of $6.5M, expenses of $4.8M, and assets of $31.0M (revenue -35.6% year-over-year).
- 2017: Revenue of $10.0M, expenses of $4.2M, and assets of $26.7M (revenue +67.8% year-over-year).
- 2016: Revenue of $6.0M, expenses of $4.1M, and assets of $21.0M (revenue +26.5% year-over-year).
- 2015: Revenue of $4.7M, expenses of $3.9M, and assets of $19.3M (revenue +36.9% year-over-year).
- 2014: Revenue of $3.5M, expenses of $3.7M, and assets of $18.8M (revenue +8.3% year-over-year).
- 2013: Revenue of $3.2M, expenses of $3.5M, and assets of $19.6M (revenue -38.2% year-over-year).
- 2012: Revenue of $5.2M, expenses of $3.1M, and assets of $21.5M (revenue +72.3% year-over-year).
- 2011: Revenue of $3.0M, expenses of $2.7M, and assets of $21.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rockport Music Inc:
Data Sources and Methodology
This transparency report for Rockport Music 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.