Prizm Ensemble INC FY2022 filing

Tax-deductible

Memphis, TN501(c)(3)Arts & CultureEIN 45-3735871Revenue $193K in FY2022

On file with the IRSprizmensemble.comPo Box 771200, 38177-1200 · Memphis, TNTax-exempt since Aug 2013Publicly supported charity — 170(b)(1)(A)(vi)

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Performing and teaching the art of chamber music.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
$47K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $11K a year · 6% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$47K
to officers and key staff · 26% of spending
Worth a look: pay to officers and key staff is 26% of spending; over 20%.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $80K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$546
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$193K
+102% vs prior year
Spent
$178K
To programs
95%
Net assets
$87K
By yearFY2020–FY2025
Revenue
$193K
FY2022▲ +102%
Tap a bar for its year
Revenue by fiscal year
FY2020$84K
FY2021$95K
FY2022$193K
FY2023$277K
FY2024$254K
FY2025$201K
Expenses
$178K
FY2022▲ +99%
Tap a bar for its year
Expenses by fiscal year
FY2020$108K
FY2021$89K
FY2022$178K
FY2023$297K
FY2024$281K
FY2025$221K
Net assets
$87K
FY2022▲ +80%
Tap a bar for its year
Net assets by fiscal year
FY2020$53K
FY2021$48K
FY2022$87K
FY2023$67K
FY2024$40K
FY2025$19K

From the FY2022 Form 990 (year ending June 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2013.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $169K Management & general 5% · $9K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $47K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$28,000Pt VII · Sec A
Executive Di
$18,750Pt VII · Sec A
$0Pt VII · Sec A
Member, Boar
$0Pt VII · Sec A
Member, Boar
$0Pt VII · Sec A
Member, Boar
$0Pt VII · Sec A
Member, Boar
$0Pt VII · Sec A
Member, Boar
$0Pt VII · Sec A

Gavin Wigginson’s $53K as Executive Director is at the 47th percentile of top reported officer pay among 2216 $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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Gavin Wigginson$52,773$50,610$41,720$18,750——
Roderick Vester————$38,500$42,000
Roderick Vester Through End July '2———$28,000——

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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Perform and teach the art of chamber music.

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Provided by the organization

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3 programs · $169K · in their own filed words · FY2021
01

Winter workshop provides chamber coachings and community performance opportunities to music students 12 yrs. And older. Local and regional artists are invited. 1 concert is presented. 12 youth attended and 4 faculty members participated.

$123Kprogram expense
02

Prizm chamber music camp and festival provides chamber coachings, master classes, music-related classes, and social events to music students 12 yrs. And older. National and international artists are invited. Five concerts are presented. 33 youth attended and college students were invited to participate as well.

$40Kprogram expense
03

Prizm in the schools (pits) provides music engagement services to school aged youth (k-18) in schools urban school settings. Students learn music skills and are mentored by professional and semi-professional musicians.

$5Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Arts MemphisFY2024$18K
Total grants receivedfrom 4 funders$80K
See all 4 funders →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$193K
Ln 12
Gifts and grantsLn 1h$176K
Fees for servicesLn 2g$17K
Investment incomeLn 3$67
Money outPt IX
$178K
Ln 25
Programscol B$169K
Managementcol C$9K
Owns and owesPt X
$87K
net assets · Ln 32
Cash and savingsLn 1–2$85K
Total assetsLn 16$87K
LiabilitiesLn 26$546
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$176K
Fees for servicesLn 2g$17K
Investment incomeLn 3$67
Total revenueLn 12$193K
Assets in detailPt X, end of year
CashLn 1$85K
Cash and savings togetherLn 1–2$85K
Total assetsLn 16$87K
LiabilitiesLn 26$546
Net assetsLn 32$87K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$48K$85K
Total assetsLn 16$48K$87K
LiabilitiesLn 26$0$546
Net assetsLn 32$48K$87K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$48K$48K
Other salaries and wagesLn 7$29K$29K
Accounting feesLn 11c$1K$1K
Other fees for servicesLn 11g$69K$69K
Advertising and promotionLn 12$80$80
TravelLn 17$6K$6K
InsuranceLn 23$567$567
Other expenses (24a–d)Ln 24$23K$22K$1K
All other expensesLn 24e$1K$462$875
Total functional expensesLn 25$178K$169K$9K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $201K$221K−$19K$19K 990 PDF
FY2024 $254K$281K−$27K$40K 990 PDF
FY2023 $277K$297K−$20K$67K 990 PDF
FY2022 Viewing $193K$178K$15K$87K 990 PDF
FY2021 $95K$89K$6K$48K 990 PDF
FY2020 $84K$108K−$24K$53K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $193,044 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $87,346$176,438
I-9 Program service revenuePrior year $8,072$16,539
I-10 Investment income$67
I-11 Other revenue$0
I-12 Total revenuePrior year $95,418$193,044
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $43,708$77,502
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $45,676$100,386
I-18 Total expensesPrior year $89,384$177,888
I-19 Revenue less expensesPrior year $6,034$15,156
Part VI · Governance 9 of 9 board members independent, 5 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $193,044 across 5 lines filed
Lines not itemized here account for $230 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$176,438
VIII-1h Total contributions, gifts and grants$176,438
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $16,309$16,309
VIII-3 Investment incomeExcluded from tax $67$67
VIII-12 Total revenueRelated to mission $16,539 · Excluded from tax $67$193,044
Part IX · Statement of functional expenses $177,888 across 9 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $48,250$48,250
IX-7 Other salaries and wagesPrograms $29,252$29,252
IX-11c Accounting feesManagement $1,050$1,050
IX-11g Other fees for servicesPrograms $68,607$68,607
IX-12 Advertising and promotionPrograms $80$80
IX-17 TravelManagement $5,607$5,607
IX-23 InsuranceManagement $567$567
IX-24 Other expenses (24a–d)Programs $21,957 · Management $1,181$23,138
IX-24e All other expensesPrograms $462 · Management $875$1,337
IX-25 Total functional expensesPrograms $168,608 · Management $9,280 · Fundraising $0$177,888
Part X · Balance sheet $87,254 assets, 6 lines filed
Asset lines not itemized here account for $2,607; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $48,280$84,647
X-16 Total assetsStart of year $48,280$87,254
X-25 Other liabilities$546
X-26 Total liabilitiesStart of year $0$546
X-32 Total net assets or fund balancesStart of year $48,280$86,708
X-33 Total liabilities and net assetsStart of year $48,280$87,254
Part XI · Reconciliation of net assets $86,708 net assets at year end
XI-1 Total revenue$193,044
XI-2 Total expenses$177,888
XI-3 Revenue less expenses$15,156
XI-4 Net assets at start of year$48,280
XI-8 Prior period adjustments$23,272
XI-10 Net assets at end of year$86,708

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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