Civic Intelligence

Foundation Music School Inc.

990 • Fiscal year 2017 • EIN 20-4421806

Sep 01, 2016 to Aug 31, 2017 • Filed on Jun 28, 2017

Organization ProfileWWW.FOUNDATIONMUSICSCHOOL.ORG

View Organization Page

3663 South College Ave Unit 13Fort Collins, CO 80525

(970) 407-9084

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$211,086

Flat from 2017

Net Assets

Flat

$140,638

Flat from 2017

Liabilities

Flat

$70,448

Flat from 2017

Revenue And Expenses

Revenue

Flat

$522,202

Flat from 2017

Expenses

Flat

$481,261

Flat from 2017

Net Income

Flat

$40,941

Flat from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2010: $23,563Liabilities 2010: $3,463Net Assets 2010: $20,1002010Assets 2011: $26,290Liabilities 2011: $872011Assets 2012: $35,397Liabilities 2012: $175Net Assets 2012: $35,2222012Assets 2013: $42,873Liabilities 2013: $178Net Assets 2013: $42,6952013Assets 2014: $63,794Liabilities 2014: $109Net Assets 2014: $63,6852014Assets 2015: $89,985Liabilities 2015: $99Net Assets 2015: $89,8862015Assets 2016: $99,816Liabilities 2016: $119Net Assets 2016: $99,6972016Assets 2017: $211,086Liabilities 2017: $70,448Net Assets 2017: $140,6382017Assets 2017: $211,086Liabilities 2017: $70,448Net Assets 2017: $140,6382017Assets 2018: $232,279Liabilities 2018: $53,082Net Assets 2018: $179,1972018Assets 2019: $254,985Liabilities 2019: $35,009Net Assets 2019: $219,9762019Assets 2020: $280,614Liabilities 2020: $15,982Net Assets 2020: $264,6322020Assets 2021: $365,068Liabilities 2021: $90,375Net Assets 2021: $274,6932021Assets 2022: $326,525Liabilities 2022: $70Net Assets 2022: $326,4552022Assets 2023: $246,615Liabilities 2023: $1,802Net Assets 2023: $244,8132023Assets 2024: $186,321Liabilities 2024: $59,391Net Assets 2024: $126,9302024

Highlighted filing

2017

Assets$211,086
Liabilities$70,448
Net Assets$140,638
Open 2017 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2010: $143,776Expenses 2010: $117,820Net Income 2010: $25,9562010Revenue 2011: $169,133Expenses 2011: $163,030Net Income 2011: $6,1032011Revenue 2012: $253,535Expenses 2012: $244,516Net Income 2012: $9,0192012Expenses 2013: $291,7032013Revenue 2014: $365,759Expenses 2014: $344,769Net Income 2014: $20,9902014Revenue 2015: $419,043Expenses 2015: $392,842Net Income 2015: $26,2012015Revenue 2016: $456,533Expenses 2016: $446,722Net Income 2016: $9,8112016Revenue 2017: $522,202Expenses 2017: $481,261Net Income 2017: $40,9412017Revenue 2017: $522,202Expenses 2017: $481,261Net Income 2017: $40,9412017Revenue 2018: $591,942Expenses 2018: $553,383Net Income 2018: $38,5592018Revenue 2019: $638,835Expenses 2019: $598,056Net Income 2019: $40,7792019Revenue 2020: $692,001Expenses 2020: $647,345Net Income 2020: $44,6562020Revenue 2021: $683,587Expenses 2021: $673,526Net Income 2021: $10,0612021Revenue 2022: $861,230Expenses 2022: $809,468Net Income 2022: $51,7622022Revenue 2023: $743,253Expenses 2023: $824,895Net Income 2023: -$81,6422023Revenue 2024: $828,855Expenses 2024: $946,738Net Income 2024: -$117,8832024

Highlighted filing

2017

Revenue$522,202
Expenses$481,261
Net Income$40,941
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2016 to Aug 31, 2017
Signed
Jun 28, 2017
Return Version
2016v3.1
Gross Receipts
$522,278
Mission and Program Overview

Mission

A non-profit community school of the arts committed to providing high- quality opportunities in the arts to interested individuals of all ages, abilities and incomes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$89$127,438▲ $127,349
Cash and Non-Interest-Bearing Accounts$98,198$83,144▼ $15,054
Intangible Assets$114$89▼ $25
Total Assets$99,816$211,086▲ $111,270
Other Assets Total$1,415$415▼ $1,000
Liabilities
Unsecured Notes Loans Payable-$70,294-
Other Liabilities$119$154▲ $35
Total Liabilities$119$70,448▲ $70,329
Net Assets / Fund Balance
Unrestricted Net Assets$99,697$140,638▲ $40,941
Total Net Assets Fund Balance$99,697$140,638▲ $40,941
Total Liabilities and Net Assets / Fund Balance$99,816$211,086▲ $111,270

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$127,438$410$127,848
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Karen ParsellExecutive DiFT$54,404$54,404

Board Members and Trustees

NameTitle
Katherine AcottPresident
Patrick KentBoard Member
Sally HarrisBoard Member
Pam MillerAssistant Se
Toni FarquarSecretary
Scott RunyanTreasurer
Kelly MccallumVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$266,631
Program Service Revenue
$255,639
Investment Income
$-68
Other Revenue
$0
All Other Contributions
$248,467
Change in Net Assets
$40,941
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$354,013
Other Expenses$127,248
Total Fundraising Expense$9,463
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$176,805$74,245$4,124$255,174
Payroll Taxes$60,016$25,202$1,400$86,618
Occupancy$68,953--$68,953
Other Employee Benefits$5,317$6,474$430$12,221
All Other Expenses$6,526$162$3,391$10,079
Insurance$1,470$5,616-$7,086
Fees for Services Other$3,739$867-$4,606
Other Expenses$2,921$1,227$68$4,216
Advertising$3,163--$3,163
Office Expenses$2,138$898$50$3,086
Fees for Services Accounting-$1,161-$1,161
Fees for Services Legal-$950-$950
Interest$599--$599
Depreciation Depletion$448--$448
Conferences and Meetings-$298-$298
Total Functional Expenses$354,698$117,100$9,463$481,261
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Bowling for Bea$9,194---
Change for Chan$5,794---
Total Events$14,988---
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sales Tax Payable$154
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Board is provided the 990 after it is filed.”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Foundation Music School
EIN
20-4421806
Phone
9704079084
Address
3663 SOUTH COLLEGE AVE UNIT 13, FORT COLLINS, CO 80525

Signing Officer

Name
Karen Parsell
Title
Executive Director
Phone
9704079084
Signed
2017-06-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Parsell
Voting Board Members
7
Independent Board Members
7
Employees
19

Preparer

Firm
Shaw & Associates CPA Pc
Address
1044 W DRAKE RD STE 201, FORT COLLINS, CO 80526-3080
Preparer
Kevin W Shaw
Phone
9702230792
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0127438
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0410
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0127848
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0154
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SALES TAX PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0127438
IRS990ScheduleD/TotalLiabilityAmt0154
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt014988
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt09194
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BOWLING FOR BEA
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0CHANGE FOR CHAN
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt05794
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD IS PROVIDED THE 990 AFTER IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
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IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.FOUNDATIONMUSICSCHOOL.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KAREN PARSELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09704079084
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-06-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION MUSIC SCHOOL
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0204421806
ReturnHeader/Filer/PhoneNum09704079084
ReturnHeader/Filer/USAddress/AddressLine1Txt03663 SOUTH COLLEGE AVE UNIT 13
ReturnHeader/Filer/USAddress/CityNm0FORT COLLINS
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHAW & ASSOCIATES CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01044 W DRAKE RD STE 201
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FORT COLLINS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0805263080
ReturnHeader/PreparerPersonGrp/PhoneNum09702230792
ReturnHeader/PreparerPersonGrp/PreparationDt02018-07-22

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$211,086
Liabilities
$70,448
Net assets
$140,638
Revenue
$522,202
Expenses
$481,261
Net income
$40,941
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.86$0.59$1.27$8.29$9.47$1.18
2023Detailed filing. Detailed filing data is available for this year.$2.47$0.02$2.45$7.43$8.25$0.82
2022Detailed filing. Detailed filing data is available for this year.$3.27$0.00$3.26$8.61$8.09$0.52
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.65$0.90$2.75$6.84$6.74$0.10
2020Detailed filing. Detailed filing data is available for this year.$2.81$0.16$2.65$6.92$6.47$0.45
2019Detailed filing. Detailed filing data is available for this year.$2.55$0.35$2.20$6.39$5.98$0.41
2018Detailed filing. Detailed filing data is available for this year.$2.32$0.53$1.79$5.92$5.53$0.39
2017Detailed filing. Detailed filing data is available for this year.$2.11$0.70$1.41$5.22$4.81$0.41
2017Detailed filing. Detailed filing data is available for this year.$2.11$0.70$1.41$5.22$4.81$0.41
2016Detailed filing. Detailed filing data is available for this year.$1.00$0.00$1.00$4.57$4.47$0.10
2015Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$4.19$3.93$0.26
2014Detailed filing. Detailed filing data is available for this year.$0.64$0.00$0.64$3.66$3.45$0.21
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.00$0.43$2.92
2012Summary only. Only limited summary data is available for this year.$0.35$0.00$0.35$2.54$2.45$0.09
2011Summary only. Only limited summary data is available for this year.$0.26$0.00$1.69$1.63$0.06
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.24$0.03$0.20$1.44$1.18$0.26