Chops INC EIN 41-1832890 Form 990 (PDF) Claim this org

Chops INC

Not yet claimed Claim this org →

Provides music education to foster dedication, creativity, and self-expression through professional programs. For fiscal year 2024 it reported $656K in revenue, $658K in expenses, and $510K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Minneapolis, MN
Website
www.chopsinc.org
Filings
5 on file (2020–2024)
Revenue
$656KFY2024
Expenses
$658K
Net assets
$510K
People
16
Filings
5
Updates
0
More identity details & actions ⌄
EIN  41-1832890 Public charity (501(c)(3)) Minneapolis, MN
Form 990 (PDF)
Compare with another nonprofit →
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Chops INC claims this page.

Know this organization? Claim it to add your story

Size
$100K–1M
What they do
Provides music education to foster dedication, creativity, and self-expression through professional programs.
Leadership
Megan O'Leary · Executive Dir.
Money in and out
$656K revenue, $658K expenses
Bottom line
75% program efficiency
Where the money goes · FY2024
Total revenue
$656K
Pt VIII · Ln 12
Total expenses
$658K
Pt IX · Ln 25
Net assets
$510K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$2K
Where spending went · Part IX cols B–D
Program services $0.75 Management & general $0.25
Program efficiency
75%
of spending reaches programs▲ +13% vs prior filing year
Operating runway
8.3mo
months of highly liquid reserves at operating expense rate▼ -22% vs prior filing year
Surplus margin
-0.3%
revenue over expenses, this year▼ -102% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$656K
FY2024▲ +10%
Expenses
$658K
FY2024▲ +24%
Total assets
$517K
FY2024▼ -5%
Total liabilities
$8K
FY2024▼ -64%
Total revenue
$656K
Pt VIII · Ln 12
Total expenses
$658K
Pt IX · Ln 25
Net assets
$510K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$2K
Total assetsPt X · Ln 16$517K
Program-expense ratioPt IX · col B75%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414
Mission & Programs · Part III

Where the work happens

2 program services account for $492K of program spending, described in the organization's own filed words · FY2024.
01

Chops, inc. Serves and entertains communities throughout minnesota. Thousands of youth and young adults have been impacted through music and performance education under the positive environment that chops provides, and hundreds of thousands of spectators have been entertained through the various performance programs.

$462Kprogram expense
02

The organization supports Minnesota's performing arts landscape through fiscal sponsorship, providing technical expertise to help community-based performing groups reach their full potential.

$30Kprogram expense

Run this program? Claim this org to tell your story

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CChops INC
EINHdr · item D41-1832890
Principal addressHdr · item CMinneapolis, MN
WebsiteHdr · item Jwww.chopsinc.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A6CZ)
Ruling yearIRS BMFFeb 1997

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Dir.
$0Pt VII · Sec A
Director-Gambli
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Chair Person
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Kathleen Liska-Jackson’s $70K as Director/Gambling Manager is at the 64th percentile of top reported officer pay among 2213 $100K–1M arts & culture 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 · 8 named individuals · Part VII

NameFY2021FY2020
Kathleen Liska-Jackson$70,016
Kathy Liska-Jackson$50,800
Megan O'Leary$49,110$5,777
Matthew Kilanowski$4,277
Michael Jackson$2,708$3,542
Jeff Mohr$2,280
Jodi Kuehn$1,500
Vicki Weinberg$723

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.

See Chops INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Statement of Revenue

Part VIII
Contributions & grants$616K · 94%
Program service revenue$66K · 10%
Contributions & grants94%$616K
Program service revenue10%$66K
Total revenueLn 12$656K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.75 Management & general $0.25
Program services75%$492K
Management & general25%$165K
Total functional expensesLn 25$658K

Balance Sheet

Part X · end of year
CashLn 1$458K
Total assetsLn 16$517K
Total liabilitiesLn 26$8K
Total net assetsLn 32$510K
Months of cash on handcomputed8.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $458K · Operating expenses/yr $658K
8.3 months
Where the money goes
Program services
Program services $492K · Total expenses $658K
75%
Management & General
Management & general $165K · Total expenses $658K
25%
Fundraising
Fundraising $0 · Total expenses $658K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $542K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $616K · Total revenue $656K
94%
Government reliance
Government grants — · Total revenue $656K
Earned-income share
Program service revenue $66K · Total revenue $656K
10%
Investment reliance
Investment income $0 · Total revenue $656K
0%
Program self-sufficiency
Program service revenue $66K · Total expenses $658K
10%
Growth & trend
Revenue growth (YoY)
This year $656K · Prior year $595K
+10%
Revenue CAGR
FY2020 $104K · FY2024 $656K
+58%
Net-asset trend (YoY)
End of year $510K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $656K · Expenses $658K
-0.3%
Liabilities-to-Assets
Total liabilities — · Total assets $517K
Net-asset ratio
Net assets $510K · Total assets $517K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $517K
0%
People & payroll
Highest Reported Total Compensation
Individual Megan O'Leary · Reported title Executive Dir. · Highest reported compensation $0 · Total expenses $658K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $289K · Total expenses $658K
44%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 75%
Overhead ratio 25%
Fundraising cost ratio 0%
Revenue growth 10%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 2%
Fundraising fee ratio 0%

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 · FY2024
See all 4 funders →
Grants paid · 2 grants · $40K · 2021–2021

Similar Organizations

Closest in mission — by what they do
See all organizations like Chops INC →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$656K revenue · viewing · ⤓ 990 PDF
FY2023$595K revenue · ⤓ 990 PDF
FY2022$521K revenue · ⤓ 990 PDF
FY2021$803K revenue · ⤓ 990 PDF
FY2020$104K revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.