Overview
What is Colorado Music Festival & Center For Musical Arts?
The Colorado Music Festival & Center for Musical Arts is a vibrant nonprofit organization situated in Boulder, Colorado. Their primary mission is to inspire and connect community members of all ages by offering access to world-class music through educational programs and performances. During their annual festival, held at the Chautauqua Auditorium, they showcased a remarkable array of talent, receiving praise from major publications such as the New York Times and BBC Music. Unfortunately, due to factors like the Delta variant of COVID-19 and increased costs, ticket sales did not meet expectations. However, they managed to contain COVID cases within the orchestra and offered complimentary tickets to Marshall Fire victims, veterans, and isolated seniors as part of their existing partnerships. Despite the financial challenges, the festival successfully delivered all concerts to the public at a higher cost than anticipated. With a workforce of 198 employees, the Colorado Music Festival & Center for Musical Arts continues to enrich the lives of its community members through music.
Official website here: www.comusic.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Stars)
The Colorado Music Festival & Center For Musical Arts has received a commendable Three-Star rating from Charity Navigator, reflecting a solid level of accountability and financial management. The organization boasts a fully independent board and shows strong governance practices, with no material diversion of assets reported and comprehensive oversight of its financial statements.
Strengths highlighted include a high program expense ratio of 85.34%, indicating that a significant portion of their budget is allocated towards their programs, and a low fundraising efficiency ratio, demonstrating effective fundraising efforts. The organization has implemented various policies such as conflict of interest and whistleblower policies, further enhancing its operational integrity.
However, the organization faces a challenge with its liabilities to assets ratio, sitting at 51.09%, which may suggest a need for improved financial stability. Additionally, the working capital ratio of 0.30 years could indicate potential liquidity issues. Overall, while the organization displays numerous strengths in governance and program expenditure, attention to financial ratios may enhance its long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Colorado Music Festival & Center For Musical Arts?
100% of 21 reviewers on Facebook recommend Colorado Music Festival & Center For Musical Arts. Here is a summary of their reviews:
Patrons appreciate the cozy and inviting atmosphere of the venue, which adds to the enjoyment of the performances. The Christmas show received particular praise, and attendees are excited about the variety of upcoming shows, indicating a strong commitment to providing engaging musical experiences.
Overall, the nonprofit seems to deliver on its promise of creating a delightful environment for music lovers, encouraging community involvement and appreciation for the arts.
This AI summary has been generated from reviews found on Facebook.
Is Colorado Music Festival & Center For Musical Arts legitimate?
Colorado Music Festival & Center For Musical Arts is a legitimate nonprofit organization registered as a 501(c)(3) entity. Colorado Music Festival & Center For Musical Arts submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $110,564
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,486,468
For more financial information, click here
Official website here: www.comusic.org
What is the mission statement of Colorado Music Festival & Center For Musical Arts?
The Colorado Music Festival & Center for Musical Arts aims to inspire and connect community members of all ages by providing access to the finest world music through education and performance. Their mission is to foster a sense of unity and engagement among people, utilizing music as a medium. They achieved notable success with their in-person festival, garnering positive reviews in major publications like the New York Times and BBC Music. However, ticket sales did not meet expectations due to COVID-19 and economic factors, leading to increased costs. To compensate, they offered complimentary tickets to those affected by the Marshall Fire, veterans, and isolated seniors. Despite the financial challenges, the festival managed to deliver all its concerts to the public.
Official website here: www.comusic.org
Who is the CEO of Colorado Music Festival & Center For Musical Arts?
Elizabeth Mcguire is the President of Colorado Music Festival & Center For Musical Arts.
Official website here: www.comusic.org
What is the revenue of Colorado Music Festival & Center For Musical Arts?
Colorado Music Festival & Center For Musical Arts's revenue in 2022 was $2,370,712.
Official website here: www.comusic.org
Who are the executives of Colorado Music Festival & Center For Musical Arts and what are their salaries?
The average compensation at Colorado Music Festival & Center For Musical Arts during 2022 was $8,066. There are 198 employees and 67 volunteers at Colorado Music Festival & Center For Musical Arts.
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Official website here: www.comusic.org
Where can I find the form 990 for Colorado Music Festival & Center For Musical Arts?
Colorado Music Festival & Center For Musical Arts's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.comusic.org
Learn more at the official website: www.comusic.org
Mission Statement of Colorado Music Festival & Center For Musical Arts
The Colorado Music Festival & Center for Musical Arts is dedicated to inspiring and connecting community members of all ages by providing access to the finest music from around the world. They achieve this mission through both education and performance. This nonprofit organization strives to engage the community by hosting events that showcase top-tier musical talent, fostering a sense of shared appreciation for music. Their commitment extends beyond performances, as they also provide educational opportunities, allowing individuals to deepen their understanding and appreciation of music. By offering a diverse range of programs, the Colorado Music Festival & Center for Musical Arts seeks to foster a vibrant and inclusive musical community.
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Impact
July, 2024
The Colorado Music Festival & Center for Musical Arts inspires and connects community members of all ages through music education and performance. The organization's impact can be seen in its successful in-person festival at Chautauqua Auditorium, which received major feature articles and positive reviews in prestigious publications like the New York Times and BBC Music. Additionally, their world premiere performance was rebroadcast on NPR's "Performance Today," reaching approximately 1.1 million listeners.
Despite challenges such as lower-than-expected ticket sales and revenue due to factors like the COVID-19 Delta variant and economic conditions, the festival persevered. The orchestra's strict testing protocols successfully contained COVID cases, and last-minute replacements were hired to ensure all scheduled concerts were delivered to the public. Furthermore, the organization utilized available seating to provide complimentary tickets to Marshall Fire victims, veterans, and isolated seniors, deepening their community engagement.
Overall, the Colorado Music Festival & Center for Musical Arts continues to make a positive impact by bringing the best of the world's music to the local community through education and performance, showcasing resilience and commitment to their mission.
This information is meant to be a general summary of Colorado Music Festival & Center For Musical Arts. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $9,153
- Program Service Revenue: $965,916
- Gross Receipts: $2,470,901
Assets and Liabilities:
- Total Assets: $1,617,794
- Total Liabilities: $826,589
- Net Assets: $791,205
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITION AND REGISTRATI
Revenue
$484,109
TICKET SALES
Revenue
$458,662
OTHER PROGRAM SERVICES
Revenue
$23,145
Organization Details
Founding Year
1976
Phone
(303) 665-0599Principal Officer
Elizabeth Mcguire
Main Address
900 BASELINE ROAD COTTAGE 200, BOULDER, CO, 80302
Website
www.comusic.orgNTEE Category
Code: A680 - Arts
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