Civic Intelligence

Visible Music College

990 • Fiscal year 2020 • EIN 62-1861520

Jul 01, 2019 to Jun 30, 2020 • Filed on Dec 05, 2020

Organization ProfileWWW.VISIBLE.EDU

View Organization Page

200 Madison AvenueMemphis, TN 38103

(901) 462-4137

Siviq Scores

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

Liabilities / Assets

81st percentile

0.67x

Higher debt load relative to assets than 81% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

87th percentile

1.89x

Higher debt load relative to revenue than 87% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

17th percentile

-12%

Higher net margin than 17% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

25th percentile

$107,885

Higher top officer pay than 25% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

24th percentile

-0.6%

Faster asset growth than 24% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

32nd percentile

-6.1%

Faster revenue growth than 32% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$10,764,035

Down $69,774 (-0.6%) from 2019

Net Assets

Down

$3,569,724

Down $456,431 (-11%) from 2019

Liabilities

Up

$7,194,311

Up $386,657 (+5.7%) from 2019

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin17th percentile

Revenue

Down

$3,800,869

Down $246,721 (-6.1%) from 2019

Expenses

Up

$4,257,300

Up $240,113 (+6.0%) from 2019

Net Income

Down

-$456,431

Down $486,834 (-1601%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $1,818,831Liabilities 2010: $436,058Net Assets 2010: $1,382,7732010Assets 2011: $2,933,933Liabilities 2011: $754,423Net Assets 2011: $2,179,5102011Assets 2012: $4,710,493Liabilities 2012: $2,664,920Net Assets 2012: $2,045,5732012Assets 2013: $5,476,051Liabilities 2013: $2,782,413Net Assets 2013: $2,693,6382013Assets 2014: $6,279,941Liabilities 2014: $3,584,884Net Assets 2014: $2,695,0572014Assets 2015: $7,206,513Liabilities 2015: $4,336,663Net Assets 2015: $2,869,8502015Assets 2016: $9,508,841Liabilities 2016: $5,071,112Net Assets 2016: $4,437,7292016Assets 2017: $10,808,630Liabilities 2017: $6,060,404Net Assets 2017: $4,748,2262017Assets 2018: $10,580,560Liabilities 2018: $6,584,808Net Assets 2018: $3,995,7522018Assets 2019: $10,833,809Liabilities 2019: $6,807,654Net Assets 2019: $4,026,1552019Assets 2020: $10,764,035Liabilities 2020: $7,194,311Net Assets 2020: $3,569,7242020Assets 2021: $10,671,207Liabilities 2021: $7,594,284Net Assets 2021: $3,076,9232021Assets 2022: $10,569,871Liabilities 2022: $8,102,686Net Assets 2022: $2,467,1852022Assets 2023: $9,599,198Liabilities 2023: $8,340,089Net Assets 2023: $1,259,1092023Assets 2024: $9,605,884Liabilities 2024: $9,758,375Net Assets 2024: -$152,4912024Assets 2025: $9,368,122Liabilities 2025: $9,337,035Net Assets 2025: $31,0872025

Highlighted filing

2020

Assets$10,764,035
Liabilities$7,194,311
Net Assets$3,569,724
Open 2020 Filing

Operations Trend

Revenue Growth32nd percentile

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,556,0222010Revenue 2011: $3,000,644Expenses 2011: $2,203,907Net Income 2011: $796,7372011Revenue 2012: $3,863,711Expenses 2012: $3,997,648Net Income 2012: -$133,9372012Revenue 2013: $4,133,765Expenses 2013: $3,485,700Net Income 2013: $648,0652013Revenue 2014: $3,370,728Expenses 2014: $3,369,309Net Income 2014: $1,4192014Revenue 2015: $3,990,275Expenses 2015: $3,815,482Net Income 2015: $174,7932015Revenue 2016: $5,527,240Expenses 2016: $3,959,361Net Income 2016: $1,567,8792016Revenue 2017: $4,062,989Expenses 2017: $3,752,492Net Income 2017: $310,4972017Revenue 2018: $2,841,128Expenses 2018: $3,593,602Net Income 2018: -$752,4742018Revenue 2019: $4,047,590Expenses 2019: $4,017,187Net Income 2019: $30,4032019Revenue 2020: $3,800,869Expenses 2020: $4,257,300Net Income 2020: -$456,4312020Revenue 2021: $4,938,373Expenses 2021: $5,748,839Net Income 2021: -$810,4662021Revenue 2022: $5,534,233Expenses 2022: $6,078,138Net Income 2022: -$543,9052022Revenue 2023: $4,711,667Expenses 2023: $5,929,262Net Income 2023: -$1,217,5952023Revenue 2024: $4,155,831Expenses 2024: $5,570,929Net Income 2024: -$1,415,0982024Revenue 2025: $2,304,094Expenses 2025: $2,544,670Net Income 2025: -$240,5762025

Highlighted filing

2020

Revenue$3,800,869
Expenses$4,257,300
Net Income-$456,431
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Dec 5, 2020
Return Version
2019v5.0
Gross Receipts
$3,800,869
Mission and Program Overview

Mission

Visible music college will train and equip artists, technicians, and business professionals for service in the christian music industry or in service to a church.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,489,449$9,180,856▼ $308,593
Cash and Non-Interest-Bearing Accounts$62,569$470,753▲ $408,184
Accounts Receivable$543,282$355,291▼ $187,991
Pledges and Grants Receivable$653,310$330,868▼ $322,442
Prepaid Expenses and Deferred Charges-$100,000-
Inventories for Sale or Use$50,414$35,478▼ $14,936
Total Assets$10,833,809$10,764,035▼ $69,774
Other Assets Total$34,785$290,789▲ $256,004
Liabilities
Unsecured Notes Loans Payable$6,555,190$6,928,302▲ $373,112
Accounts Payable and Accrued Expenses$135,700$189,689▲ $53,989
Deferred Revenue$116,764$76,320▼ $40,444
Total Liabilities$6,807,654$7,194,311▲ $386,657
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,026,155$3,569,724▼ $456,431
Total Net Assets Fund Balance$4,026,155$3,569,724▼ $456,431
Total Liabilities and Net Assets / Fund Balance$10,833,809$10,764,035▼ $69,774

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,744,544$2,331,789$10,076,333
Equipment$1,091,583$370,923$1,462,506
Land$344,729-$344,729
Compensation and Service Providers
Top Officer Pay25th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ken SteortsPresidentFT$107,885$107,885

Board Members and Trustees

NameTitle
Sarah HaizlipChair
Eliot MorrisVice Chair
Alison FranklinDirector
Charles LawingDirector
Clay MccormackDirector
Dave PrinceDirector
Dr Steve MarodaDirector
John DudasDirector
Lee GibsonDirector
Michael CrossDirector
Mike OverlinDirector
Oona MitchellDirector
Paula BeasleyDirector
Sandra StinnettDirector
Susan PattersonDirector
Will NorrisDirector
Sheila WhalumSecretary
Kristian GluckTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$616,563
Program Service Revenue
$3,089,014
Investment Income
$0
Other Revenue
$95,292
All Other Contributions
$616,563
Change in Net Assets
$-456,431
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,274,444
Other Expenses$1,982,856
Total Fundraising Expense$233,481
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,197,700$536,372$142,818$1,876,890
Depreciation Depletion$248,800$65,679-$314,479
Occupancy$278,102$24,962-$303,064
Interest-$286,417-$286,417
Other Employee Benefits$129,940$35,589-$165,529
Information Technology$114,292$38,763-$153,055
Advertising$10,865$137,115-$147,980
Office Expenses$47,165$84,549$8,495$140,209
Payroll Taxes$85,678$33,480$4,982$124,140
Current Officers, Directors, Trustees, and Key Employees$26,971$26,971$53,943$107,885
Travel$52,615$9,806$23,243$85,664
Insurance-$61,873-$61,873
Other Expenses$42,681--$42,681
Fees for Services Accounting-$24,000-$24,000
Fees for Services Legal-$15,325-$15,325
Total Functional Expenses$2,642,918$1,380,901$233,481$4,257,300
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
No
Annual disclosure for covered persons
No
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
Yes
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

“The institution's process is for the board of trustees and finance committee to review and approve the form 990 prior to filing.”

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

“Enforcement of conflicts policy visible music college aims to be clear of any hint of improper handling of business. Any staff member who wishes to disclose an illegal activity may do so to the president of the college without repercussion related to their job. If the illegal activity involves the president, he or she may approach the chair of the board of trustees in writing without fear of dismissal. Separate from the standard grievance policy, a person who considers themselves to have proof of an illegal activity at the college may approach the president or board chair with this informaiton directly.”

Form 990, Page 6, Part VI, Line 15A

“The president of the institution approves the salaries and compensation of each department head. Each department head approves the salaries and compensation of their subordinates. The president's salary is reviewed by the board of trustees and/or their finance committee.”

Form 990, Page 6, Part VI, Line 19

“The institution makes its financial statements available throught guidestar or upon request from the public.”

Filing and Contact Details

Filer

Filer Name
Visible Music College
EIN
62-1861520
Phone
9014624137
Address
200 MADISON AVENUE, MEMPHIS, TN 38103

Signing Officer

Name
Ken Steorts
Title
President
Phone
9013813939
Signed
2020-12-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ken Steorts
Formed
2000
Legal Domicile
Tn
Voting Board Members
18
Independent Board Members
18
Employees
84

Preparer

Firm
Newsom and Associates Pa
Address
12740 ATLANTIC BLVD STE 7, JACKSONVILLE, FL 32225
Preparer
C Scott Newsom
Phone
9043200572
Supplemental Narrative

Additional Explanations

Form 990, Page 12, Part XII, Line 3B

“Signle audit will be completed by february 2021. Institution wanted to file form 990 prior to february 2021.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18SECRETARY
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02000
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt018
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt03800869
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt018
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt038763
IRS990/InformationTechnologyGrp/ProgramServicesAmt0114292
IRS990/InformationTechnologyGrp/TotalAmt0153055
IRS990/InsuranceGrp/ManagementAndGeneralAmt061873
IRS990/InsuranceGrp/TotalAmt061873
IRS990/InterestGrp/ManagementAndGeneralAmt0286417
IRS990/InterestGrp/TotalAmt0286417
IRS990/InventoriesForSaleOrUseGrp/BOYAmt050414
IRS990/InventoriesForSaleOrUseGrp/EOYAmt035478
IRS990/InvestmentInJointVentureInd0false
IRS990/IRPDocumentCnt08
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt02702712
IRS990/LandBldgEquipBasisNetGrp/BOYAmt09489449
IRS990/LandBldgEquipBasisNetGrp/EOYAmt09180856
IRS990/LandBldgEquipCostOrOtherBssAmt011883568
IRS990/LegalDomicileStateCd0TN
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0VISIBLE MUSIC COLLEGE WILL TRAIN AND EQUIP ARTISTS, TECHNICIANS, AND BUSINESS PROFESSIONALS FOR SERVICE IN THE CHRISTIAN MUSIC INDUSTRY OR IN SERVICE TO A CHURCH.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt04026155
IRS990/NetAssetsOrFundBalancesEOYAmt03569724
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt04026155
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt03569724
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt024962
IRS990/OccupancyGrp/ProgramServicesAmt0278102
IRS990/OccupancyGrp/TotalAmt0303064
IRS990/OfficeExpensesGrp/FundraisingAmt08495
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt084549
IRS990/OfficeExpensesGrp/ProgramServicesAmt047165
IRS990/OfficeExpensesGrp/TotalAmt0140209
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt034785
IRS990/OtherAssetsTotalGrp/EOYAmt0290789
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt035589
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0129940
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0165529
IRS990/OtherExpensesGrp/Desc0BAD DEBTS
IRS990/OtherExpensesGrp/Desc1EDUCATIONAL MATERIALS
IRS990/OtherExpensesGrp/Desc2ACCREDITATION
IRS990/OtherExpensesGrp/ProgramServicesAmt0341839
IRS990/OtherExpensesGrp/ProgramServicesAmt166270
IRS990/OtherExpensesGrp/ProgramServicesAmt242681
IRS990/OtherExpensesGrp/TotalAmt0341839
IRS990/OtherExpensesGrp/TotalAmt166270
IRS990/OtherExpensesGrp/TotalAmt242681
IRS990/OtherRevenueMiscGrp/Desc0PRODUCTION INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt095292
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt095292
IRS990/OtherRevenueTotalAmt095292
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0142818
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0536372
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01197700
IRS990/OtherSalariesAndWagesGrp/TotalAmt01876890
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt04982
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt033480
IRS990/PayrollTaxesGrp/ProgramServicesAmt085678
IRS990/PayrollTaxesGrp/TotalAmt0124140
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0653310
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0330868
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0100000
IRS990/PrincipalOfficerNm0KEN STEORTS
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611600
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM TUITION AND FEES
IRS990/ProgramServiceRevenueGrp/Desc1DORMITORY INCOME
IRS990/ProgramServiceRevenueGrp/Desc2SCHOLARSHIPS GIVEN
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03254466
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1536360
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2-701812
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03254466
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1536360
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2-701812
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt074910
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt01682828
IRS990/PYOtherRevenueAmt0151922
IRS990/PYProgramServiceRevenueAmt03150758
IRS990/PYRevenuesLessExpensesAmt0-639597
IRS990/PYSalariesCompEmpBnftPaidAmt02334359
IRS990/PYTotalExpensesAmt04017187
IRS990/PYTotalRevenueAmt03377590
IRS990/ReconcilationRevenueExpnssAmt0-456431
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt03089014
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt07744544
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02331789
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt010076333
IRS990ScheduleD/EquipmentGrp/BookValueAmt01091583
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0370923
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01462506
IRS990ScheduleD/LandGrp/BookValueAmt0344729
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0344729
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09180856
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE INFORMATION IS PUBLISHED IN THE SCHOOL'S CATALOG THAT IS GIVEN TO ALL PROSPECTIVE STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE INSTITUTION PARTICIPATES IN THE STUDENT FINANCIAL AID PROGRAMS OF TITLE IV ADMINISTERED BY THE U.S. DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE INSTITUTION'S PROCESS IS FOR THE BOARD OF TRUSTEES AND FINANCE COMMITTEE TO REVIEW AND APPROVE THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ENFORCEMENT OF CONFLICTS POLICY VISIBLE MUSIC COLLEGE AIMS TO BE CLEAR OF ANY HINT OF IMPROPER HANDLING OF BUSINESS. ANY STAFF MEMBER WHO WISHES TO DISCLOSE AN ILLEGAL ACTIVITY MAY DO SO TO THE PRESIDENT OF THE COLLEGE WITHOUT REPERCUSSION RELATED TO THEIR JOB. IF THE ILLEGAL ACTIVITY INVOLVES THE PRESIDENT, HE OR SHE MAY APPROACH THE CHAIR OF THE BOARD OF TRUSTEES IN WRITING WITHOUT FEAR OF DISMISSAL. SEPARATE FROM THE STANDARD GRIEVANCE POLICY, A PERSON WHO CONSIDERS THEMSELVES TO HAVE PROOF OF AN ILLEGAL ACTIVITY AT THE COLLEGE MAY APPROACH THE PRESIDENT OR BOARD CHAIR WITH THIS INFORMAITON DIRECTLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PRESIDENT OF THE INSTITUTION APPROVES THE SALARIES AND COMPENSATION OF EACH DEPARTMENT HEAD. EACH DEPARTMENT HEAD APPROVES THE SALARIES AND COMPENSATION OF THEIR SUBORDINATES. THE PRESIDENT'S SALARY IS REVIEWED BY THE BOARD OF TRUSTEES AND/OR THEIR FINANCE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE INSTITUTION MAKES ITS FINANCIAL STATEMENTS AVAILABLE THROUGHT GUIDESTAR OR UPON REQUEST FROM THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SIGNLE AUDIT WILL BE COMPLETED BY FEBRUARY 2021. INSTITUTION WANTED TO FILE FORM 990 PRIOR TO FEBRUARY 2021.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 12, PART XII, LINE 3B
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$10,764,035
Liabilities
$7,194,311
Net assets
$3,569,724
Revenue
$3,800,869
Expenses
$4,257,300
Net income
-$456,431
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$9.37$9.34$0.03$2.30$2.54$0.24
2024Detailed filing. Detailed filing data is available for this year.$9.61$9.76$0.15$4.16$5.57$1.42
2023Detailed filing. Detailed filing data is available for this year.$9.60$8.34$1.26$4.71$5.93$1.22
2022Detailed filing. Detailed filing data is available for this year.$10.6$8.10$2.47$5.53$6.08$0.54
2021Detailed filing. Detailed filing data is available for this year.$10.7$7.59$3.08$4.94$5.75$0.81
2020Detailed filing. Detailed filing data is available for this year.$10.8$7.19$3.57$3.80$4.26$0.46
2019Detailed filing. Detailed filing data is available for this year.$10.8$6.81$4.03$4.05$4.02$0.03
2018Detailed filing. Detailed filing data is available for this year.$10.6$6.58$4.00$2.84$3.59$0.75
2017Summary only. Only limited summary data is available for this year.$10.8$6.06$4.75$4.06$3.75$0.31
2016Summary only. Only limited summary data is available for this year.$9.51$5.07$4.44$5.53$3.96$1.57
2015Summary only. Only limited summary data is available for this year.$7.21$4.34$2.87$3.99$3.82$0.17
2014Summary only. Only limited summary data is available for this year.$6.28$3.58$2.70$3.37$3.37$0.00
2013Summary only. Only limited summary data is available for this year.$5.48$2.78$2.69$4.13$3.49$0.65
2012Summary only. Only limited summary data is available for this year.$4.71$2.66$2.05$3.86$4.00$0.13
2011Summary only. Only limited summary data is available for this year.$2.93$0.75$2.18$3.00$2.20$0.80
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.82$0.44$1.38$2.56