Civic Intelligence

Foundation Music School Inc.

990 • Fiscal year 2020 • EIN 20-4421806

Sep 01, 2019 to Aug 31, 2020 • Filed on Feb 22, 2021

Organization ProfileWWW.FOUNDATIONMUSICSCHOOL.ORG

View Organization Page

3663 South College Ave Unit 13Fort Collins, CO 80525

(970) 407-9084

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

52nd percentile

0.06x

Higher debt load relative to assets than 52% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

41st percentile

0.02x

Higher debt load relative to revenue than 41% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

51st percentile

6.5%

Higher net margin than 51% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

74th percentile

$64,748

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 9.4% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

57th percentile

10%

Faster asset growth than 57% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

64th percentile

8.3%

Faster revenue growth than 64% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$280,614

Up $25,629 (+10%) from 2019

Net Assets

Up

$264,632

Up $44,656 (+20%) from 2019

Liabilities

Down

$15,982

Down $19,027 (-54%) from 2019

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin51st percentile

Revenue

Up

$692,001

Up $53,166 (+8.3%) from 2019

Expenses

Up

$647,345

Up $49,289 (+8.2%) from 2019

Net Income

Up

$44,656

Up $3,877 (+9.5%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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 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

2020

Assets$280,614
Liabilities$15,982
Net Assets$264,632
Open 2020 Filing

Operations Trend

Revenue Growth64th percentile

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 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

2020

Revenue$692,001
Expenses$647,345
Net Income$44,656
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2019 to Aug 31, 2020
Signed
Feb 22, 2021
Return Version
2019v5.0
Gross Receipts
$693,076
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
Cash and Non-Interest-Bearing Accounts$128,474$156,540▲ $28,066
Land, Buildings, and Equipment, Net$126,472$124,060▼ $2,412
Intangible Assets$39$14▼ $25
Total Assets$254,985$280,614▲ $25,629
Liabilities
Unsecured Notes Loans Payable$34,848$15,884▼ $18,964
Other Liabilities$161$98▼ $63
Total Liabilities$35,009$15,982▼ $19,027
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$219,976$264,632▲ $44,656
Total Net Assets Fund Balance$219,976$264,632▲ $44,656
Total Liabilities and Net Assets / Fund Balance$254,985$280,614▲ $25,629

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$124,060$14,388$138,448
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Karen ParsellExecutive DiFT$63,725$1,023$64,748

Board Members and Trustees

NameTitle
Sally HarrisPresident
Ellen CokerBoard Member
Jennifer PowellBoard Member
Katherine AcottPast Presid
Toni FarquarSecretary
Steve GrahamVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$210,766
Program Service Revenue
$389,154
Investment Income
$263
Other Revenue
$91,818
All Other Contributions
$189,097
Change in Net Assets
$44,656
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$480,080
Other Expenses$146,041
Total Fundraising Expense$24,038
Grants and Similar Amounts Paid$21,224
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$307,691$45,439$10,861$363,991
Occupancy$78,826--$78,826
Current Officers, Directors, Trustees, and Key Employees$16,281$38,731$9,736$64,748
Payroll Taxes$25,605$6,620$1,616$33,841
Grants to Domestic Individuals$21,224--$21,224
Other Employee Benefits$11,661$4,527$1,312$17,500
Fees for Services Other$6,972$4,561-$11,533
Insurance$4,293$2,349-$6,642
All Other Expenses$6,220$46$172$6,438
Depreciation Depletion$5,236--$5,236
Other Expenses$3,039$786$192$4,017
Office Expenses$1,837$609$149$2,595
Fees for Services Accounting-$1,306-$1,306
Interest$1,206--$1,206
Advertising$374--$374
Total Functional Expenses$518,333$104,974$24,038$647,345
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$1,075
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
High Note Campa$15,128---
Total Events$15,128---
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$98
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 35% controlled entity
No
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
2021-02-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Parsell
Voting Board Members
5
Independent Board Members
5
Employees
25

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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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt098
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt0124060
IRS990ScheduleD/TotalLiabilityAmt098
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IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt015128
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IRS990ScheduleI/GrantRecordsMaintainedInd0true
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AVAILABLE UPON REQUEST.
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalGrossUBIAmt00
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.FOUNDATIONMUSICSCHOOL.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KAREN PARSELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09704079084
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-02-22

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$280,614
Liabilities
$15,982
Net assets
$264,632
Revenue
$692,001
Expenses
$647,345
Net income
$44,656
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
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