Give a Note Foundation INC EIN 35-2379473 Form 990 (PDF) Claim this org

Give a Note Foundation INC

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Empowering educators, inspiring students, and expanding music education's reach and impact. For fiscal year 2025 it reported $326K in revenue, $348K in expenses, and $183K in net assets.Pt I

Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Carmel, IN
Website
giveanote.org
Filings
5 on file (2021–2025)
Revenue
$326KFY2025
Expenses
$348K
Net assets
$183K
People
13
Filings
5
Updates
0
More identity details & actions ⌄
EIN  35-2379473 Public foundation / grantmaker Carmel, IN
Form 990 (PDF)
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Size
$100K–1M
What they do
Empowering educators, inspiring students, and expanding music education's reach and impact.
Leadership
Michael Dendy Jarrett · CEO · $132K
Money in and out
$326K revenue, $348K expenses
Bottom line
40% program efficiency
Grants paid & assets · FY2025
Total revenue
$326K
Pt VIII · Ln 12
Total expenses
$348K
Pt IX · Ln 25
Net assets
$183K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$22K
Where spending went · Part IX cols B–D
Program services $0.40 Management & general $0.19 Fundraising $0.40
Program efficiency
40%
of spending reaches programs▲ +9% vs prior filing year
Operating runway
7.2mo
months of highly liquid reserves at operating expense rate▼ -22% vs prior filing year
Surplus margin
-7%
revenue over expenses, this year▼ -117% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$326K
FY2025▼ -35%
Expenses
$348K
FY2025▲ +14%
Total assets
$204K
FY2025▼ -5%
Total liabilities
$22K
FY2025▲ +90%
Total revenue
$326K
Pt VIII · Ln 12
Total expenses
$348K
Pt IX · Ln 25
Net assets
$183K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$22K
Total assetsPt X · Ln 16$204K
Program-expense ratioPt IX · col B40%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

1 program service account for $140K of program spending, described in the organization's own filed words · FY2024.
01

Give a note foundation, inc. (gan) is a strategic not-for-profit group with a mission to engage and empower music educators, inspire music students, and expand the reach and impact of music education.

$140Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGive a Note Foundation INC
EINHdr · item D35-2379473
Principal addressHdr · item CCarmel, IN
WebsiteHdr · item Jgiveanote.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T30)
Ruling yearIRS BMFNov 2011

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$132,423Pt VII · Sec A
COO, Board Secretary
$31,750Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Past Board Chair/President
$0Pt VII · Sec A
Board Chair/President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Michael Dendy Jarrett’s $132K as CEO is at the 94th percentile of top reported officer pay among 1263 $100K–1M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2022FY2021
Michael Dendy Jarrett$132,423
Beth Slusher$31,750$10,140$32,212$69,158

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants100%$326K
Investment income$398
Total revenueLn 12$326K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.40 Management & general $0.19 Fundraising $0.40
Program services40%$140K
Management & general19%$68K
Fundraising40%$141K
Total functional expensesLn 25$348K

Balance Sheet

Part X · end of year
CashLn 1$199K
Total assetsLn 16$204K
Total liabilitiesLn 26$22K
Total net assetsLn 32$183K
Months of cash on handcomputed6.9

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $199K · Operating expenses (Pt IX) $348K · Less non-cash grants $17K · Cash operating expenses/yr $331K
7.2 months
Where the money goes
Program services
Program services $140K · Total expenses $348K
40%
Management & General
Management & general $68K · Total expenses $348K
19%
Fundraising
Fundraising $141K · Total expenses $348K
40%
Cost to raise $1
Fundraising expense (2-yr avg) $149K · Solicited contributions (2-yr avg) $413K
$0.36 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $326K · Total revenue $326K
100%
Government reliance
Government grants — · Total revenue $326K
Earned-income share
Program service revenue $0 · Total revenue $326K
0%
Investment reliance
Investment income $398 · Total revenue $326K
+0.1%
Program self-sufficiency
Program service revenue $0 · Total expenses $348K
0%
Growth & trend
Revenue growth (YoY)
This year $326K · Prior year $501K
-35%
Revenue CAGR
FY2020 $200K · FY2024 $326K
+13%
Net-asset trend (YoY)
End of year $183K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $326K · Expenses $348K
-7%
Liabilities-to-Assets
Total liabilities — · Total assets $204K
Net-asset ratio
Net assets $183K · Total assets $204K
89%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $204K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Michael Dendy Jarrett · Reported title CEO · Highest reported compensation $132K · Total expenses $348K
38%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $225K · Total expenses $348K
65%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 40%
Overhead ratio 19%
Fundraising cost ratio 43%
Revenue growth -35%
Accounting fee ratio 5%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Gibson GivesFY2025$28K
Total grants receivedfrom 1 funder$28K
Grants paid · 3 grants · $40K · 2023–2024
Woodburn High SchoolFY2024$19,895
Woodburn High SchoolFY2023$10,000
Campbell High SchoolFY2023$10,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$326K revenue · viewing · ⤓ 990 PDF
FY2024$501K revenue · ⤓ 990 PDF
FY2023$127K revenue · ⤓ 990 PDF
FY2022$163K revenue · ⤓ 990 PDF
FY2021$200K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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