Civic Intelligence

Musicworks Inc.

990 • Fiscal year 2019 • EIN 81-5308559

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 20, 2020

60 Ridgelawn RdAsheville, NC 28806

(877) 829-5500

Siviq Scores

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

Liabilities / Assets

71st percentile

0.03x

Higher debt load relative to assets than 71% of similar nonprofits.

2019 filings • NTEE O50 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

70th percentile

0.01x

Higher debt load relative to revenue than 70% of similar nonprofits.

2019 filings • NTEE O50 • <$500k nonprofits • Source year 2019

Net Margin

70th percentile

13%

Higher net margin than 70% of similar nonprofits.

2019 filings • NTEE O50 • <$500k nonprofits • Source year 2019

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

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

2019 filings • NTEE O50 • <$500k nonprofits • Source year 2019

Asset Growth

87th percentile

96%

Faster asset growth than 87% of similar nonprofits.

2019 filings • NTEE O50 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

76th percentile

34%

Faster revenue growth than 76% of similar nonprofits.

2019 filings • NTEE O50 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Up

$90,553

Up $44,260 (+96%) from 2018

Net Assets

Up

$87,741

Up $43,521 (+98%) from 2018

Liabilities

Up

$2,812

Up $739 (+36%) from 2018

Revenue

Up

$330,081

Up $83,344 (+34%) from 2018

Expenses

Up

$286,560

Up $84,043 (+41%) from 2018

Net Income

Down

$43,521

Down $699 (-1.6%) from 2018

Historical Trend

Balance Sheet Trend

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

$150K$100K$50K$0Assets 2018: $46,293Liabilities 2018: $2,073Net Assets 2018: $44,2202018Assets 2019: $90,553Liabilities 2019: $2,812Net Assets 2019: $87,7412019Assets 2020: $46,285Liabilities 2020: $5,047Net Assets 2020: $41,2382020Assets 2021: $74,370Liabilities 2021: $4,447Net Assets 2021: $69,9232021Assets 2022: $85,600Liabilities 2022: $9,611Net Assets 2022: $75,9892022Assets 2023: $38,947Liabilities 2023: $4,376Net Assets 2023: $34,5712023Assets 2024: $97,441Liabilities 2024: $5,315Net Assets 2024: $92,1262024Assets 2025: $140,899Liabilities 2025: $2,000Net Assets 2025: $138,8992025

Highlighted filing

2019

Assets$90,553
Liabilities$2,812
Net Assets$87,741

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2018: $246,737Expenses 2018: $202,517Net Income 2018: $44,2202018Revenue 2019: $330,081Expenses 2019: $286,560Net Income 2019: $43,5212019Revenue 2020: $212,205Expenses 2020: $258,708Net Income 2020: -$46,5032020Revenue 2021: $128,396Expenses 2021: $99,711Net Income 2021: $28,6852021Revenue 2022: $156,583Expenses 2022: $150,517Net Income 2022: $6,0662022Revenue 2023: $146,197Expenses 2023: $187,615Net Income 2023: -$41,4182023Revenue 2024: $251,076Expenses 2024: $193,519Net Income 2024: $57,5572024Revenue 2025: $243,180Expenses 2025: $196,407Net Income 2025: $46,7732025

Highlighted filing

2019

Revenue$330,081
Expenses$286,560
Net Income$43,521
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 20, 2020
Return Version
2018v3.1
Gross Receipts
$330,081
Mission and Program Overview

Mission

Musicworks is an intensive after-school program, offered in buncombe county to school-aged children in under served populations that uses music education as a tool to teach life skills.

MusicWorks is an intensive after-school program, offered in the city of Asheville to school-aged children in under served populations that uses music education as a tool to teach life skills.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$37,180$76,475▲ $39,295
Land, Buildings, and Equipment, Net$8,909$13,184▲ $4,275
Accounts Receivable$204$894▲ $690
Total Assets$46,293$90,553▲ $44,260
Liabilities
Accounts Payable and Accrued Expenses$2,073$2,812▲ $739
Total Liabilities$2,073$2,812▲ $739
Net Assets / Fund Balance
Temporarily Rstr Net Assets$34,466$58,300▲ $23,834
Unrestricted Net Assets$9,754$29,441▲ $19,687
Total Net Assets Fund Balance$44,220$87,741▲ $43,521
Total Liabilities and Net Assets / Fund Balance$46,293$90,553▲ $44,260

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,184$19,070$32,254
Land$0--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Tom LeeverPresident and Treasurer
Barbra LoveBoard Member
David WhitehillBoard Member
Jan ThomasBoard Member
Laurie PanzerBoard Member
Sandra TravisBoard Member
Sharon PottsBoard Member
Tara ScholtzBoard Member
Julie LeeverSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$291,026
Program Service Revenue
$38,378
Investment Income
$0
Other Revenue
$677
All Other Contributions
$291,026
Change in Net Assets
$43,521
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$235,183
Other Expenses$51,377
Total Fundraising Expense$12,047
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$180,505$21,137$9,730$211,372
Payroll Taxes$15,416$1,814$907$18,137
Fees for Services Management$0$15,000$0$15,000
Other Employee Benefits$4,823$567$284$5,674
Depreciation Depletion$4,867$541$0$5,408
Insurance$0$3,874$204$4,078
Other Expenses$3,977$0$0$3,977
Office Expenses$1,615$2,178$0$3,793
Information Technology$0$2,079$0$2,079
Fees for Services Accounting$0$2,075$0$2,075
Advertising$0$1,082$922$2,004
All Other Expenses$932$0$0$932
Total Functional Expenses$223,666$50,847$12,047$286,560
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
Annual disclosure for covered persons
Yes
Audit committee
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
Filing and Contact Details

Filer

Filer Name
MusicWorks Inc
EIN
81-5308559
Phone
8778295500
Address
60 Ridgelawn Rd, Asheville, NC 28806

Signing Officer

Name
Tom Leever
Title
President and Treasurer
Phone
8778295500
Signed
2020-04-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Leever
Formed
2017
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
29
Volunteers
30

Preparer

Firm
Corliss & Solomon Pllc
Address
242 CHARLOTTE ST SUITE 1, ASHEVILLE, NC 28801
Preparer
Stephen C Corliss
Phone
8282360206
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

Board Members Tom Leever and Julie Leever are husband and wife.

Pt VI, Line 11B

The 990 is prepared by independent accountants, reviewed by management, presented to the Board for review, proposed revisions and final approval.

Pt VI, Line 12C

Enforced as necessary. Whenever a director or officer has a financial or personal interest in any matter coming before the board of directors, the board shall ensure that: 1. The interest of such officer or director is fully disclosed to the board of directors. 2. No interested officer or director may vote or lobby on the matter or be counted in determining the existence of a quorum at the meeting of the board of directors at which such matter is voted upon. 3. Any transaction including a director or officer who has a financial or personal interest shall be duly approved in advance by members of the board of directors not so interested or connected as being in the best interests of the organization. 4. Payments to the interested officer or director shall be reasonable and shall not exceed fair market value. 5. The minutes of meetings at which such votes are taken shall record such disclosure, abstention, and rationale for approval.

Pt VI, Line 15A

The organization is still in its formative stage. One board member, Tom Leveer, is responsible for executive director duties and also serves as board chair and board treasurer. Mr. Leveer is not compensated for any of his duties at MusicWorks.

Pt VI, Line 18

Forms 1023 and 990 are available on the GuideStar's website and upon request.

Pt VI, Line 19

Governing documents and reviewed financial statements are available upon request.

Form 990, Part IX, Line 24E

In Kind Materials utilized 500. 500. 0. 0.

Form 990, Part IX, Line 24E

Other Expenses 432. 432. 0. 0.

Financial Statement Notes

Pt X, Line 2

MusicWorks is exempt from federal income taxes under 501(c)(3) of the Internal Revenue Code. Under the Code, however, income from certain activities not related to an organization's tax-exempt purpose may be subject to taxation as unrelated business income. MusicWorks had no income from unrelated business activities during the 2018-19 fiscal year and was, therefore, not required to file Federal Form 990-T (Exempt Organization Business Income Tax Return). MusicWorks believes that it has appropriate support for all tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.

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IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Other Income Part II, Line 10 Description: Merchandise sales 2018: 677.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Pt II Ln 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0291026
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0216993
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0508019
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt068122
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0677
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0677
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt0508019
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0291026
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0216993
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0508019
IRS990ScheduleA/TotalSupportAmt0508696
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt013184
IRS990ScheduleD/EquipmentGrp/DepreciationAmt019070
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt032254
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MusicWorks is exempt from federal income taxes under 501(c)(3) of the Internal Revenue Code. Under the Code, however, income from certain activities not related to an organization's tax-exempt purpose may be subject to taxation as unrelated business income. MusicWorks had no income from unrelated business activities during the 2018-19 fiscal year and was, therefore, not required to file Federal Form 990-T (Exempt Organization Business Income Tax Return). MusicWorks believes that it has appropriate support for all tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt X, Line 2
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013184
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Board Members Tom Leever and Julie Leever are husband and wife.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 990 is prepared by independent accountants, reviewed by management, presented to the Board for review, proposed revisions and final approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Enforced as necessary. Whenever a director or officer has a financial or personal interest in any matter coming before the board of directors, the board shall ensure that: 1. The interest of such officer or director is fully disclosed to the board of directors. 2. No interested officer or director may vote or lobby on the matter or be counted in determining the existence of a quorum at the meeting of the board of directors at which such matter is voted upon. 3. Any transaction including a director or officer who has a financial or personal interest shall be duly approved in advance by members of the board of directors not so interested or connected as being in the best interests of the organization. 4. Payments to the interested officer or director shall be reasonable and shall not exceed fair market value. 5. The minutes of meetings at which such votes are taken shall record such disclosure, abstention, and rationale for approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization is still in its formative stage. One board member, Tom Leveer, is responsible for executive director duties and also serves as board chair and board treasurer. Mr. Leveer is not compensated for any of his duties at MusicWorks.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Forms 1023 and 990 are available on the GuideStar's website and upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Governing documents and reviewed financial statements are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6In Kind Materials utilized 500. 500. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Other Expenses 432. 432. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt058300
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt046293
IRS990/TotalAssetsEOYAmt090553
IRS990/TotalAssetsGrp/BOYAmt046293
IRS990/TotalAssetsGrp/EOYAmt090553
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0291026
IRS990/TotalEmployeeCnt029
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt012047
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt050847
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0223666
IRS990/TotalFunctionalExpensesGrp/TotalAmt0286560
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02073
IRS990/TotalLiabilitiesEOYAmt02812
IRS990/TotalLiabilitiesGrp/BOYAmt02073
IRS990/TotalLiabilitiesGrp/EOYAmt02812
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt044220
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt087741
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0223666
IRS990/TotalProgramServiceRevenueAmt038378
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0677
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt038378
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0330081
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt046293
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt090553
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt09754
IRS990/UnrestrictedNetAssetsGrp/EOYAmt029441
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt060 Ridgelawn Rd
IRS990/USAddress/CityNm0Asheville
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028806
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0www.musicworksasheville.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Tom Leever
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President and Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum08778295500
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MusicWorks Inc

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