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

Chops INC FY2022 filing

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Provides music education to foster dedication, creativity, and self-expression through professional programs. For fiscal year 2022 it reported $521K in revenue, $486K in expenses, and $457K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Minneapolis, MN
Website
www.chopsinc.org
Filings
5 on file (2020–2022)
Revenue
$521KFY2022
Expenses
$486K
Net assets
$457K
People
14
Filings
5
Updates
0
More identity details & actions ⌄
EIN  41-1832890 Public charity (501(c)(3)) Minneapolis, MN
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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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
$521K revenue, $486K expenses
Where the money goes · FY2022
Total revenue
$521K
Pt VIII · Ln 12
Total expenses
$486K
Pt IX · Ln 25
Net assets
$457K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $34K
Where spending went · Part IX cols B–D
Program services $0.66 Management & general $0.34

Summary of the Filing

Part I · fiscal year 2022 · Form 990-T
Revenue
$521K
FY2022▼ -35%
Expenses
$486K
FY2022▲ +3%
Total assets
$471K
FY2022▲ +7%
Total liabilities
$14K
FY2022▲ +51%
Total revenue
$521K
Pt VIII · Ln 12
Total expenses
$486K
Pt IX · Ln 25
Net assets
$457K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$34K
Total assetsPt X · Ln 16$471K
Program-expense ratioPt IX · col B66%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

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
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Chair Person
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$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.

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Mission & Programs · Part III

Where the work happens

1 program service account for $320K of program spending, described in the organization's own filed words · FY2022.
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.

$320Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$462K · 89%
Program service revenue$35K · 7%
Investment income$27K · 5%
Contributions & grants89%$462K
Program service revenue7%$35K
Investment income5%$27K
Total revenueLn 12$521K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.66 Management & general $0.34
Program services66%$320K
Management & general34%$166K
Total functional expensesLn 25$486K

Balance Sheet

Part X · end of year
CashLn 1$416K
Total assetsLn 16$471K
Total liabilitiesLn 26$14K
Total net assetsLn 32$457K
Months of cash on handcomputed10.3

Grants

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

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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
FY2024 (Latest)$656K revenue · ⤓ 990 PDF
FY2023$595K revenue · ⤓ 990 PDF
FY2022$521K revenue · viewing · ⤓ 990 PDF
FY2021$803K revenue · ⤓ 990 PDF
FY2020$104K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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