Civic Intelligence

Wisconsin Foundation for School Music Inc.

990 • Fiscal year 2023 • EIN 39-1826152

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 24, 2024

1005 Quinn DriveWaunakee, WI 53597

(608) 850-3566

Siviq Scores

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

Liabilities / Assets

39th percentile

0.00x

Higher debt load relative to assets than 39% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

47th percentile

0.01x

Higher debt load relative to revenue than 47% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

85th percentile

37%

Higher net margin than 85% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

91st percentile

$120,243

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 123.0% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

48th percentile

2.9%

Faster asset growth than 48% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

85th percentile

66%

Faster revenue growth than 85% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Up

$429,041

Up $11,954 (+2.9%) from 2022

Net Assets

Up

$427,638

Up $10,551 (+2.5%) from 2022

Liabilities

Up

$1,403

Up $1,403 from 2022

Revenue

Up

$97,733

Up $38,882 (+66%) from 2022

Expenses

Down

$61,645

Down $3,998 (-6.1%) from 2022

Net Income

Up

$36,088

Up $42,880 (+631%) from 2022

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2011: $256,584Liabilities 2011: $1,517Net Assets 2011: $255,0672011Assets 2012: $253,817Liabilities 2012: $1,223Net Assets 2012: $252,5942012Assets 2013: $302,056Liabilities 2013: $1,223Net Assets 2013: $300,8332013Assets 2014: $347,727Liabilities 2014: $0Net Assets 2014: $347,7272014Assets 2015: $337,881Liabilities 2015: $0Net Assets 2015: $337,8812015Assets 2016: $334,214Liabilities 2016: $0Net Assets 2016: $334,2142016Assets 2017: $356,339Liabilities 2017: $0Net Assets 2017: $356,3392017Assets 2018: $388,709Liabilities 2018: $110Net Assets 2018: $388,5992018Assets 2019: $388,914Liabilities 2019: $0Net Assets 2019: $388,9142019Assets 2020: $420,285Liabilities 2020: $0Net Assets 2020: $420,2852020Assets 2021: $464,468Liabilities 2021: $0Net Assets 2021: $464,4682021Assets 2022: $417,087Liabilities 2022: $0Net Assets 2022: $417,0872022Assets 2023: $429,041Liabilities 2023: $1,403Net Assets 2023: $427,6382023Assets 2024: $460,567Liabilities 2024: $0Net Assets 2024: $460,5672024

Highlighted filing

2023

Assets$429,041
Liabilities$1,403
Net Assets$427,638

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2011: $90,215Expenses 2011: $117,506Net Income 2011: -$27,2912011Revenue 2012: $100,193Expenses 2012: $102,218Net Income 2012: -$2,0252012Revenue 2013: $108,363Expenses 2013: $80,128Net Income 2013: $28,2352013Revenue 2014: $96,570Expenses 2014: $75,318Net Income 2014: $21,2522014Revenue 2015: $71,333Expenses 2015: $78,931Net Income 2015: -$7,5982015Revenue 2016: $97,588Expenses 2016: $87,017Net Income 2016: $10,5712016Revenue 2017: $76,208Expenses 2017: $69,283Net Income 2017: $6,9252017Revenue 2018: $77,502Expenses 2018: $61,949Net Income 2018: $15,5532018Revenue 2019: $49,975Expenses 2019: $62,281Net Income 2019: -$12,3062019Revenue 2020: $88,241Expenses 2020: $33,939Net Income 2020: $54,3022020Revenue 2021: $55,004Expenses 2021: $70,686Net Income 2021: -$15,6822021Revenue 2022: $58,851Expenses 2022: $65,643Net Income 2022: -$6,7922022Revenue 2023: $97,733Expenses 2023: $61,645Net Income 2023: $36,0882023Revenue 2024: $67,348Expenses 2024: $52,925Net Income 2024: $14,4232024

Highlighted filing

2023

Revenue$97,733
Expenses$61,645
Net Income$36,088
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 24, 2024
Return Version
2022v5.0
Gross Receipts
$569,925
Mission and Program Overview

Mission

Promote and perpetuate music education in wisconsin schools

To promote and perpetuate music education in the schools of wisconsin and to assist in carrying out the educational and charitable purposes of the wisconsin school music association.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$350,050$347,219▼ $2,831
Cash and Non-Interest-Bearing Accounts$14,321$33,674▲ $19,353
Land, Buildings, and Equipment, Net$5,085$4,226▼ $859
Total Assets$417,087$429,041▲ $11,954
Other Assets Total$47,631$43,922▼ $3,709
Liabilities
Accounts Payable and Accrued Expenses-$1,403-
Total Liabilities$0$1,403▲ $1,403
Net Assets / Fund Balance
Net Assets With Donor Restrictions$398,309$415,284▲ $16,975
Net Assets Without Donor Restrictions$18,778$12,354▼ $6,424
Total Net Assets Fund Balance$417,087$427,638▲ $10,551
Total Liabilities and Net Assets / Fund Balance$417,087$429,041▲ $11,954

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,226$11,972$16,198
Other Assets Org$1,287--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$350,050$4,625▲ $15,132-$351,844
2022$393,301$4,879▼ $30,416-$350,050
2021$347,431$6,685▲ $57,406-$393,301
2020$312,980$28,028▲ $12,373$-5,950$347,431
2019$303,638$10,365▲ $16,977-$312,980
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Laurie FellenzExecutive Di$12,577$107,666$120,243

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$52,725
Program Service Revenue
$0
Investment Income
$45,008
Other Revenue
$0
All Other Contributions
$52,725
Change in Net Assets
$36,088
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$21,118
Other Expenses$20,527
Salaries, Compensation, and Employee Benefits$20,000
Total Fundraising Expense$6,386
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$19,118--$19,118
Current Officers, Directors, Trustees, and Key Employees$3,324$10,804$2,493$16,621
Fees for Services Accounting-$7,210-$7,210
Insurance-$2,285-$2,285
Other Salaries and Wages$1,799$341$66$2,206
Advertising$1,391$502$107$2,000
Grants to Domestic Individuals$2,000--$2,000
Fees for Service Investment Mgmnt Fees$1,840--$1,840
Office Expenses$985$356$76$1,417
Payroll Taxes$339$678$156$1,173
Depreciation Depletion$597$216$46$859
Other Expenses$372$134$29$535
All Other Expenses$118$42$8$168
Total Functional Expenses$32,476$22,783$6,386$61,645
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Wisconsin School Music AssociationWaunakee, WI3Music Programs$17,963
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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
Yes
Audit committee
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
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The form 990 is reviewed and approved by the executive director and board of directors prior to filing the return.

Form 990, Page 6, Part VI, Line 19

Governing documents available upon request.

Filing and Contact Details

Filer

Filer Name
Wisconsin Foundation
EIN
39-1826152
Phone
6088503566
Address
1005 QUINN DRIVE, WAUNAKEE, WI 53597

Signing Officer

Name
Laurie Fellenz
Title
Executive Director
Phone
6082494566
Signed
2024-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rich Appel
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
17

Preparer

Firm
Johnson Block & Co Inc
Address
2500 BUSINESS PARK ROAD, MINERAL POINT, WI 53565
Preparer
Brent Nelson
Phone
6089872206
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The foundation has three donor-restricted endowment funds, the honors endowment, leckrone endowment, and jarreau endowment. Contributed funds to the honors endowment are invested and only earnings on investment or 5% of the endowment (whichever is greater) may be used each year to support student musicians or conductors. A percentage of contributed funds to the leckrone endowment (as determined by the foundation's board of trustees) is used to support the operating costs of the wsma state marching band championships. A percentage of contributed funds to the jarreau endowment (as determined by the foundation's board of trustees) is used to provide financial support for milwaukee public schools students to participate in statewide music programs offered by wsma.

Schedule D, Page 3, Part X

The foundation has adopted accounting guidance for recognizing and measuring uncertain tax positions. The foundation follows statutory requirements for income tax accounting and generally avoids risks associated with potentially problematic tax positions that may be challenged upon examination. Management beleives any liability resulting from taxing authorities imposing income taxes from activities deemed to be unrelated to the foundation's tax exempt status would not be material to the financial statements. The foundation's federal exempt organization returns are subject to examination by the internal revenue service, generally for three years after they are filed. With few exceptions, the foundation is no longer subject to such examinations for tax years before 2019.

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IRS990/MissionDesc0TO PROMOTE AND PERPETUATE MUSIC EDUCATION IN THE SCHOOLS OF WISCONSIN AND TO ASSIST IN CARRYING OUT THE EDUCATIONAL AND CHARITABLE PURPOSES OF THE WISCONSIN SCHOOL MUSIC ASSOCIATION.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS INCOME 214
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0MAD COMM FOUND-WFSM ENDOW FUND
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1LIFE INSURANCE -CASH VALUE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAS THREE DONOR-RESTRICTED ENDOWMENT FUNDS, THE HONORS ENDOWMENT, LECKRONE ENDOWMENT, AND JARREAU ENDOWMENT. CONTRIBUTED FUNDS TO THE HONORS ENDOWMENT ARE INVESTED AND ONLY EARNINGS ON INVESTMENT OR 5% OF THE ENDOWMENT (WHICHEVER IS GREATER) MAY BE USED EACH YEAR TO SUPPORT STUDENT MUSICIANS OR CONDUCTORS. A PERCENTAGE OF CONTRIBUTED FUNDS TO THE LECKRONE ENDOWMENT (AS DETERMINED BY THE FOUNDATION'S BOARD OF TRUSTEES) IS USED TO SUPPORT THE OPERATING COSTS OF THE WSMA STATE MARCHING BAND CHAMPIONSHIPS. A PERCENTAGE OF CONTRIBUTED FUNDS TO THE JARREAU ENDOWMENT (AS DETERMINED BY THE FOUNDATION'S BOARD OF TRUSTEES) IS USED TO PROVIDE FINANCIAL SUPPORT FOR MILWAUKEE PUBLIC SCHOOLS STUDENTS TO PARTICIPATE IN STATEWIDE MUSIC PROGRAMS OFFERED BY WSMA.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION HAS ADOPTED ACCOUNTING GUIDANCE FOR RECOGNIZING AND MEASURING UNCERTAIN TAX POSITIONS. THE FOUNDATION FOLLOWS STATUTORY REQUIREMENTS FOR INCOME TAX ACCOUNTING AND GENERALLY AVOIDS RISKS ASSOCIATED WITH POTENTIALLY PROBLEMATIC TAX POSITIONS THAT MAY BE CHALLENGED UPON EXAMINATION. MANAGEMENT BELEIVES ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE FOUNDATION'S TAX EXEMPT STATUS WOULD NOT BE MATERIAL TO THE FINANCIAL STATEMENTS. THE FOUNDATION'S FEDERAL EXEMPT ORGANIZATION RETURNS ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, GENERALLY FOR THREE YEARS AFTER THEY ARE FILED. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO SUCH EXAMINATIONS FOR TAX YEARS BEFORE 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/RecipientTable/RecipientEIN0390813464
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01005 QUINN DRIVE
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0WI

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.61$0.00$4.61$0.67$0.53$0.14
2023Detailed filing. Detailed filing data is available for this year.$4.29$0.01$4.28$0.98$0.62$0.36
2022Detailed filing. Detailed filing data is available for this year.$4.17$0.00$4.17$0.59$0.66$0.07
2021Detailed filing. Detailed filing data is available for this year.$4.64$0.00$4.64$0.55$0.71$0.16
2020Detailed filing. Detailed filing data is available for this year.$4.20$0.00$4.20$0.88$0.34$0.54
2019Detailed filing. Detailed filing data is available for this year.$3.89$0.00$3.89$0.50$0.62$0.12
2018Detailed filing. Detailed filing data is available for this year.$3.89$0.00$3.89$0.78$0.62$0.16
2017Detailed filing. Detailed filing data is available for this year.$3.56$0.00$3.56$0.76$0.69$0.07
2016Detailed filing. Detailed filing data is available for this year.$3.34$0.00$3.34$0.98$0.87$0.11
2015Detailed filing. Detailed filing data is available for this year.$3.38$0.00$3.38$0.71$0.79$0.08
2014Detailed filing. Detailed filing data is available for this year.$3.48$0.00$3.48$0.97$0.75$0.21
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.02$0.01$3.01$1.08$0.80$0.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.54$0.01$2.53$1.00$1.02$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.57$0.02$2.55$0.90$1.18$0.27
Peer Organizations

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