Prizm Ensemble INC FY2023 filing

Tax-deductible

Memphis, TN501(c)(3)Arts & CultureEIN 45-3735871

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Performing and teaching the art of chamber music.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$42K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · 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
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$42K
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.3 months of spending in cash; 1 to 3.
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
$5K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$277K
+44% vs prior year
Spent
$297K
To programs
84%
Net assets
$67K
By yearFY2020–FY2025
Revenue
$277K
FY2023▲ +44%
Revenue by fiscal year
FY2020$84K
FY2021$95K
FY2022$193K
FY2023$277K
FY2024$254K
FY2025$201K
Expenses
$297K
FY2023▲ +67%
Expenses by fiscal year
FY2020$108K
FY2021$89K
FY2022$178K
FY2023$297K
FY2024$281K
FY2025$221K
Net assets
$67K
FY2023▼ -23%
Net assets by fiscal year
FY2020$53K
FY2021$48K
FY2022$87K
FY2023$67K
FY2024$40K
FY2025$19K

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 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

84 cents of each dollar spent went to programs.

Program services 84% · $250K Management & general 16% · $46K

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

9 people listed on the 990; $42K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Di
$41,720Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Member, Boar
$0Pt VII · Sec A
Member, Boar
$0Pt VII · Sec A
Member, Boar
$0Pt VII · Sec A
$0Pt VII · Sec A
Member, Boar
$0Pt VII · Sec A
$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.

See Prizm Ensemble INC executive salaries →

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Perform and teach the art of chamber music.

Provided by the organization

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3 program services account for $250K of program spending, described in the organization's own filed words · FY2022.
01

Prizm chamber music camp and international festival provides chamber coachings, master classes, music-related classes, and social events to music students 12 years and older. National and international artists are invited. 7 concerts are presented. 72 youth attended the camp.

$230Kprogram expense
02

Prizm in the schools (pits) provides music engagement services to school- aged youth k-12 in urban school settings. Students learn music skills and are mentored by professional and semi-professional musicians.

$14Kprogram expense
03

Winter workshop provides chamber coaching and community performance opportunities to music students 12 years and older. Local and regional artists are invited. One concert is presented. 33 youth attended and 10 faculty members participated.

$6Kprogram expense

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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 FY2023 990, line by line.

1The main four
Money inPt VIII
$277K
Ln 12
Gifts and grantsLn 1h$253K
Fees for servicesLn 2g$24K
Investment incomeLn 3$61
Money outPt IX
$297K
Ln 25
Programscol B$250K
Managementcol C$46K
Owns and owesPt X
$67K
net assets · Ln 32
Cash and savingsLn 1–2$57K
Total assetsLn 16$72K
LiabilitiesLn 26$5K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$253K
Fees for servicesLn 2g$24K
Investment incomeLn 3$61
Total revenueLn 12$277K
Assets in detailPt X, end of year
CashLn 1$57K
Cash and savings togetherLn 1–2$57K
Total assetsLn 16$72K
LiabilitiesLn 26$5K
Net assetsLn 32$67K
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 FY23End FY23
Cash and savingsLn 1–2$85K$57K
Total assetsLn 16$87K$72K
LiabilitiesLn 26$546$5K
Net assetsLn 32$87K$67K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$42K$42K
Other salaries and wagesLn 7$46K$46K
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$106K$106K
Advertising and promotionLn 12$17K$17K
Office expensesLn 13$8K$8K
Information technologyLn 14$3K$3K
TravelLn 17$20K$20K
InsuranceLn 23$551$551
Other expenses (24a–d)Ln 24$27K$22K$5K
All other expensesLn 24e$24K$19K$5K
Total functional expensesLn 25$297K$250K$46K$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 Viewing $277K$297K−$20K$67K 990 PDF
FY2022 $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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $277,035 across 5 lines filed
Lines not itemized here account for $114 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$253,074
VIII-1h Total contributions, gifts and grants$253,074
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $23,786$23,786
VIII-3 Investment incomeExcluded from tax $61$61
VIII-12 Total revenueRelated to mission $23,900 · Excluded from tax $61$277,035
Part IX · Statement of functional expenses $296,718 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $41,720$41,720
IX-7 Other salaries and wagesPrograms $45,557$45,557
IX-11c Accounting feesManagement $3,846$3,846
IX-11g Other fees for servicesPrograms $105,972$105,972
IX-12 Advertising and promotionPrograms $16,651$16,651
IX-13 Office expensesManagement $8,261$8,261
IX-14 Information technologyManagement $3,000$3,000
IX-17 TravelManagement $20,306$20,306
IX-23 InsuranceManagement $551$551
IX-24 Other expenses (24a–d)Programs $21,935 · Management $5,200$27,135
IX-24e All other expensesPrograms $18,624 · Management $5,095$23,719
IX-25 Total functional expensesPrograms $250,459 · Management $46,259 · Fundraising $0$296,718
Part X · Balance sheet $71,881 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $84,647$56,601
X-4 Accounts receivable$15,280
X-16 Total assetsStart of year $87,254$71,881
X-17 Accounts payable and accrued expenses$4,856
X-26 Total liabilitiesStart of year $546$4,856
X-32 Total net assets or fund balancesStart of year $86,708$67,025
X-33 Total liabilities and net assetsStart of year $87,254$71,881
Part XI · Reconciliation of net assets $67,025 net assets at year end
XI-1 Total revenue$277,035
XI-2 Total expenses$296,718
XI-3 Revenue less expenses−$19,683
XI-4 Net assets at start of year$86,708
XI-10 Net assets at end of year$67,025

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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