Equity Arc EIN 85-2618740

Equity Arc FY2022 filing

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Develops equitable opportunities for aspiring classical musicians from underrepresented ethnicities. For fiscal year 2022 it reported $215K in revenue, $128K in expenses, and $111K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Cincinnati, OH
Website
www.niman.org
Filings
4 on file (2022–2022)
Revenue
$215KFY2022
Expenses
$128K
Net assets
$111K
People
12
Filings
4
Updates
0
More identity details & actions ⌄
EIN  85-2618740 Public charity (501(c)(3)) Cincinnati, OH
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →
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Figures match the IRS filing checked 9/13/26 · see original: IRS
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Size
$1–10M
What they do
Develops equitable opportunities for aspiring classical musicians from underrepresented ethnicities.
Leadership
Michael Angell · Director
Money in and out
$215K revenue, $128K expenses
Bottom line
38% program efficiency
Where the money goes · FY2022
Total revenue
$215K
Pt VIII · Ln 12
Total expenses
$128K
Pt IX · Ln 25
Net assets
$111K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $87K
Where spending went · Part IX cols B–D
Program services $0.38 Management & general $0.62 Fundraising $0.00
Program efficiency
38%
of spending reaches programs
Operating runway
11.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+41%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$215K
FY2022
Expenses
$128K
FY2022
Total assets
$119K
FY2022
Total liabilities
$9K
FY2022
Total revenue
$215K
Pt VIII · Ln 12
Total expenses
$128K
Pt IX · Ln 25
Net assets
$111K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$87K
Total assetsPt X · Ln 16$119K
Program-expense ratioPt IX · col B38%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412
Mission & Programs · Part III

Where the work happens

2 program services account for $49K of program spending, described in the organization's own filed words · FY2021.
01

The chicago youth in music pathways festival brought 49 aspiring artists who study at pathways programs across the country. Pathways programs offer comprehensive support to pre-college musicians from backgrounds underrepresented in classical music.

$45Kprogram expense
02

The common application for summer study is a resource designed in partnership with 12 partnering summer FESTIVALS/CAMPS that allows students from backgrounds underrepresented in classical music to apply to any partnering program through one application and audition.

$3Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CEquity Arc
EINHdr · item D85-2618740
Principal addressHdr · item CCincinnati, OH
WebsiteHdr · item Jwww.niman.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A20)
Ruling yearIRS BMFJan 2021

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
Independent voting membersPt VI · Ln 1b12
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
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 · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-Chair
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$214K · 99%
Program service revenue$2K · 1%
Contributions & grants99%$214K
Program service revenue1%$2K
Other revenue$130
Total revenueLn 12$215K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.38 Management & general $0.62 Fundraising $0.00
Program services38%$49K
Management & general62%$79K
Fundraising$161
Total functional expensesLn 25$128K

Balance Sheet

Part X · end of year
CashLn 1$117K
Total assetsLn 16$119K
Total liabilitiesLn 26$9K
Total net assetsLn 32$111K
Months of cash on handcomputed11.0

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $117K · Operating expenses/yr $128K
11.0 months
Where the money goes
Program services
Program services $49K · Total expenses $128K
38%
Management & General
Management & general $79K · Total expenses $128K
62%
Fundraising
Fundraising $161 · Total expenses $128K
0.1%
Cost to raise $1
Fundraising expense $161 · Solicited contributions $214K
$0.00 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $214K · Total revenue $215K
99%
Government reliance
Government grants — · Total revenue $215K
Earned-income share
Program service revenue $2K · Total revenue $215K
0.8%
Investment reliance
Investment income $0 · Total revenue $215K
0%
Program self-sufficiency
Program service revenue $2K · Total expenses $128K
1%
Growth & trend
Revenue growth (YoY)
This year $215K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $111K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $215K · Expenses $128K
+41%
Liabilities-to-Assets
Total liabilities — · Total assets $119K
Net-asset ratio
Net assets $111K · Total assets $119K
93%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $119K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Michael Angell · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $128K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $71K · Total expenses $128K
56%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 38%
Overhead ratio 62%
Fundraising cost ratio 0.08%

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 5 funders →
Grants paid · 1 grant · $63K · 2024–2024
Unitemized GrantFY2024$63,000

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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)$1.8M revenue · ⤓ 990 PDF
FY2024$1.0M revenue · ⤓ 990 PDF
FY2023$647K revenue · ⤓ 990 PDF
FY2022$215K revenue · viewing · ⤓ 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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