Civic Intelligence

Monadnock Music

990 • Fiscal year 2018 • EIN 23-7021734

Oct 01, 2017 to Sep 30, 2018 • Filed on Oct 17, 2019

PO Box 3022Peterborough, NH 03458

(603) 924-7610

Siviq Scores

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

Liabilities / Assets

97th percentile

1.97x

Higher debt load relative to assets than 97% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

92nd percentile

0.45x

Higher debt load relative to revenue than 92% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

29th percentile

-6.1%

Higher net margin than 29% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

36th percentile

-5.2%

Faster asset growth than 36% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

58th percentile

6.2%

Faster revenue growth than 58% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Down

$56,030

Down $3,092 (-5.2%) from 2017

Net Assets

Down

-$54,423

Down $14,943 (-38%) from 2017

Liabilities

Up

$110,453

Up $11,851 (+12%) from 2017

Revenue

Up

$244,660

Up $14,294 (+6.2%) from 2017

Expenses

Down

$259,603

Down $42,252 (-14%) from 2017

Net Income

Up

-$14,943

Up $56,546 (+79%) from 2017

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2010: $167,341Liabilities 2010: $4,491Net Assets 2010: $162,8502010Assets 2011: $145,300Liabilities 2011: $62,550Net Assets 2011: $82,7502011Assets 2013: $80,627Liabilities 2013: $96,174Net Assets 2013: -$15,5472013Assets 2015: $91,693Liabilities 2015: $5,070Net Assets 2015: $86,6232015Assets 2016: $96,806Liabilities 2016: $64,797Net Assets 2016: $32,0092016Assets 2017: $59,122Liabilities 2017: $98,602Net Assets 2017: -$39,4802017Assets 2018: $56,030Liabilities 2018: $110,453Net Assets 2018: -$54,4232018Assets 2019: $75,304Liabilities 2019: $73,368Net Assets 2019: $1,9362019Assets 2020: $60,651Liabilities 2020: $34,151Net Assets 2020: $26,5002020Assets 2021: $135,132Liabilities 2021: $72Net Assets 2021: $135,0602021Assets 2022: $167,524Liabilities 2022: $164Net Assets 2022: $167,3602022Assets 2023: $1,377,444Liabilities 2023: $1,452Net Assets 2023: $1,375,9922023Assets 2024: $1,503,178Liabilities 2024: $14,104Net Assets 2024: $1,489,0742024

Highlighted filing

2018

Assets$56,030
Liabilities$110,453
Net Assets-$54,423

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2010: $365,7872010Expenses 2011: $385,7272011Expenses 2013: $579,3412013Revenue 2015: $297,478Expenses 2015: $326,552Net Income 2015: -$29,0742015Revenue 2016: $228,283Expenses 2016: $282,897Net Income 2016: -$54,6142016Revenue 2017: $230,366Expenses 2017: $301,855Net Income 2017: -$71,4892017Revenue 2018: $244,660Expenses 2018: $259,603Net Income 2018: -$14,9432018Revenue 2019: $245,533Expenses 2019: $189,174Net Income 2019: $56,3592019Revenue 2020: $165,278Expenses 2020: $140,714Net Income 2020: $24,5642020Revenue 2021: $315,086Expenses 2021: $206,526Net Income 2021: $108,5602021Revenue 2022: $225,328Expenses 2022: $193,028Net Income 2022: $32,3002022Revenue 2023: $192,450Expenses 2023: $233,433Net Income 2023: -$40,9832023Revenue 2024: $189,160Expenses 2024: $226,464Net Income 2024: -$37,3042024

Highlighted filing

2018

Revenue$244,660
Expenses$259,603
Net Income-$14,943
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Oct 17, 2019
Return Version
2017v2.3
Gross Receipts
$248,915
Mission and Program Overview

Mission

Monadnock music makes exceptional music accessible to all in intimate and informal settings in the towns and villages of the monadnock region and beyond. Through a commitment to varied and imaginative performances and teaching, monadnock music keeps a sense of musical daring and discovery alive.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,641$3,084▼ $557
Accounts Receivable$2,127--
Land, Buildings, and Equipment, Net$1,574$1,166▼ $408
Total Assets$59,122$56,030▼ $3,092
Other Assets Total$51,780$51,780→ $0
Liabilities
Unsecured Notes Loans Payable$54,622$70,929▲ $16,307
Accounts Payable and Accrued Expenses$43,980$39,524▼ $4,456
Total Liabilities$98,602$110,453▲ $11,851
Net Assets / Fund Balance
Unrestricted Net Assets$-39,480$-54,423▼ $14,943
Total Net Assets Fund Balance$-39,480$-54,423▼ $14,943
Total Liabilities and Net Assets / Fund Balance$59,122$56,030▼ $3,092

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,166$12,617$13,783
Other Assets Org$51,780--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Will FregosiBoard Chair
John ShonleTrustee
Joseph SolomonTrustee
MICHAEL DELL'ORTOTrustee
Paul VeneziaTrustee
Amanda PirnerSecretary
Kevin McelhinneyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$211,674
Program Service Revenue
$30,491
Investment Income
$2
Other Revenue
$2,493
All Other Contributions
$211,674
Change in Net Assets
$-14,943
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$134,381
Salaries, Compensation, and Employee Benefits$125,222
Total Fundraising Expense$2,911
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$56,394$53,930-$110,324
Advertising$13,190--$13,190
Payroll Taxes$5,079$4,880-$9,959
All Other Expenses$7,261--$7,261
Occupancy-$6,467-$6,467
Fees for Services Other$2,959$257$2,675$5,891
Other Employee Benefits-$4,939-$4,939
Other Expenses$-395$4,466$236$4,307
Fees for Services Accounting-$4,025-$4,025
Interest-$3,522-$3,522
Insurance-$2,963-$2,963
Office Expenses$56$1,289-$1,345
Depreciation Depletion-$409-$409
Travel-$182-$182
Information Technology-$9-$9
Total Functional Expenses$169,354$87,338$2,911$259,603
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$6,660
Fundraising Direct Expenses$4,255
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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 9

Will fregosi 83 chester road raymond, nh 03077 kevin mcelhinney 184 sherwood circle brattleboro, vt 05301 amanda pirner 59 maple ave apt 5 keene, nh 03431 john shonle 6 veterans road, unit 21 amherst, nh 03031 michael dell'orto 21 wilton center road wilton, nh 03086 paul venezia 74 lead mine road keene, nh 03431 joseph solomon 473 west end ave apt 7b new york, ny 10024

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

A copy of form 990 is provided to the president of the board of trustees prior to its electronic filing. The board reviews the return and approves it proir to the transmittal of the return.

Form 990, Page 6, Part VI, Line 12C

All members of the board are required to complete and sign a new conflict of interest policy yearly.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available, upon request, at its business office.

Filing and Contact Details

Filer

Filer Name
Monadnock Music
EIN
23-7021734
Phone
6039247610
Address
PO BOX 3022, PETERBOROUGH, NH 03458

Signing Officer

Name
Will Fregosi
Title
Board Chair
Phone
6038524345
Signed
2019-10-17

Organization Details

Principal Officer
Will Fregosi
Formed
1968
Legal Domicile
Nh
Voting Board Members
7
Independent Board Members
7
Employees
4

Preparer

Firm
Lynn C Rust CPA Pc
Address
217R OLD HOMESTEAD HWY, SWANZEY, NH 03446-2121
Preparer
Lynn C Rust CPA
Phone
6033586565
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Monadnock music makes exceptional music accessible to all in intimate and informal settings in the towns and villages of the monadnock region and beyond. Through a commitment to varied and imaginative performances and teaching, monadnock music keeps a sense of musical daring and discovery alive.

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0MUSICAL LIBRARY
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MONADNOCK MUSIC MAKES EXCEPTIONAL MUSIC ACCESSIBLE TO ALL IN INTIMATE AND INFORMAL SETTINGS IN THE TOWNS AND VILLAGES OF THE MONADNOCK REGION AND BEYOND. THROUGH A COMMITMENT TO VARIED AND IMAGINATIVE PERFORMANCES AND TEACHING, MONADNOCK MUSIC KEEPS A SENSE OF MUSICAL DARING AND DISCOVERY ALIVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WILL FREGOSI 83 CHESTER ROAD RAYMOND, NH 03077 KEVIN MCELHINNEY 184 SHERWOOD CIRCLE BRATTLEBORO, VT 05301 AMANDA PIRNER 59 MAPLE AVE APT 5 KEENE, NH 03431 JOHN SHONLE 6 VETERANS ROAD, UNIT 21 AMHERST, NH 03031 MICHAEL DELL'ORTO 21 WILTON CENTER ROAD WILTON, NH 03086 PAUL VENEZIA 74 LEAD MINE ROAD KEENE, NH 03431 JOSEPH SOLOMON 473 WEST END AVE APT 7B NEW YORK, NY 10024
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF FORM 990 IS PROVIDED TO THE PRESIDENT OF THE BOARD OF TRUSTEES PRIOR TO ITS ELECTRONIC FILING. THE BOARD REVIEWS THE RETURN AND APPROVES IT PROIR TO THE TRANSMITTAL OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL MEMBERS OF THE BOARD ARE REQUIRED TO COMPLETE AND SIGN A NEW CONFLICT OF INTEREST POLICY YEARLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE, UPON REQUEST, AT ITS BUSINESS OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum06038524345
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-10-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MONADNOCK MUSIC
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.20.171.72
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ReturnHeader/PreparerPersonGrp/PreparationDt02019-10-17
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ReturnHeader/ReturnTs02019-10-30T12:45:35-05:00
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ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.50$0.01$1.49$0.19$0.23$0.04
2023Detailed filing. Detailed filing data is available for this year.$1.38$0.00$1.38$0.19$0.23$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.23$0.19$0.03
2021Detailed filing. Detailed filing data is available for this year.$0.14$0.00$0.14$0.32$0.21$0.11
2020Detailed filing. Detailed filing data is available for this year.$0.06$0.03$0.03$0.17$0.14$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.08$0.07$0.00$0.25$0.19$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.06$0.11$0.05$0.24$0.26$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.06$0.10$0.04$0.23$0.30$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.10$0.06$0.03$0.23$0.28$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.09$0.01$0.09$0.30$0.33$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.10$0.02$0.58
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.15$0.06$0.08$0.39
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.17$0.00$0.16$0.37