Equity Arc EIN 85-2618740 Form 990 (PDF) Claim this org

Equity Arc FY2024 filing

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Develops equitable opportunities for aspiring classical musicians from underrepresented ethnicities. For fiscal year 2024 it reported $1.0M in revenue, $526K in expenses, and $980K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Cincinnati, OH
Website
www.niman.org
Filings
4 on file (2022–2024)
Revenue
$1.0MFY2024
Expenses
$526K
Net assets
$980K
People
18
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 FY2024 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
Charles Grode · Co-Chair
Money in and out
$1.0M revenue, $526K expenses
Bottom line
52% program efficiency
Where the money goes · FY2024
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$526K
Pt IX · Ln 25
Net assets
$980K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $518K
Where spending went · Part IX cols B–D
Program services $0.52 Management & general $0.28 Fundraising $0.21
Program efficiency
52%
of spending reaches programs
Operating runway
22.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
+50%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.0M
FY2024▲ +61%
Expenses
$526K
FY2024▲ +78%
Total assets
$1.0M
FY2024▲ +116%
Total liabilities
$22K
FY2024▲ ×20
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$526K
Pt IX · Ln 25
Net assets
$980K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$518K
Total assetsPt X · Ln 16$1.0M
Program-expense ratioPt IX · col B52%
Voting members of governing bodyPt I · Ln 317
Independent voting membersPt I · Ln 417

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 1a17
Independent voting membersPt VI · Ln 1b17
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 (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Equity Arc executive salaries →

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Mission & Programs · Part III

Where the work happens

3 program services account for $272K of program spending, described in the organization's own filed words · FY2023.
01

The National Pathways Festival and Convening

The equity arc national pathways festival and convening brought 57 precollege fellows and two alumni from 17 pathways programs across the country to nashville for a multiday musical experience that included sectionals led by principal musicians of the nashville symphony, rehearsals led by maestro giancarlo guerrero, and a culminating…

$137Kprogram expense
02

Member Services

Common application for summer study: the common application for summer study is a free resource for musicians of color to apply to multiple summer music festivals with one application and one audition.

$69Kprogram expense
03

National Collective for Musical Pathways

In fall of 2022, equity arc launched the national collective for musical pathways, an alliance of rigorous precollege music training programs committed to removing barriers and accelerating the progress of bipoc (black, indigenous, and people of color) musicians.

$65Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$1.0M · 97%
Program service revenue$27K · 3%
Contributions & grants97%$1.0M
Program service revenue3%$27K
Other revenue$765
Total revenueLn 12$1.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.52 Management & general $0.28 Fundraising $0.21
Program services52%$272K
Management & general28%$146K
Fundraising21%$108K
Total functional expensesLn 25$526K

Balance Sheet

Part X · end of year
CashLn 1$989K
Total assetsLn 16$1.0M
Total liabilitiesLn 26$22K
Total net assetsLn 32$980K
Months of cash on handcomputed22.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $989K · Operating expenses/yr $526K
22.6 months
Where the money goes
Program services
Program services $272K · Total expenses $526K
52%
Management & General
Management & general $146K · Total expenses $526K
28%
Fundraising
Fundraising $108K · Total expenses $526K
21%
Cost to raise $1
Fundraising expense (3-yr avg) $38K · Solicited contributions (3-yr avg) $619K
$0.06 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.0M · Total revenue $1.0M
97%
Government reliance
Government grants — · Total revenue $1.0M
Earned-income share
Program service revenue $27K · Total revenue $1.0M
3%
Investment reliance
Investment income $0 · Total revenue $1.0M
0%
Program self-sufficiency
Program service revenue $27K · Total expenses $526K
5%
Growth & trend
Revenue growth (YoY)
This year $1.0M · Prior year $647K
+61%
Net-asset trend (YoY)
End of year $980K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.0M · Expenses $526K
+50%
Liabilities-to-Assets
Total liabilities — · Total assets $1.0M
Net-asset ratio
Net assets $980K · Total assets $1.0M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.0M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Charles Grode · Reported title CO-CHAIR · Highest reported compensation $0 · Total expenses $526K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $377K · Total expenses $526K
72%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 52%
Overhead ratio 28%
Fundraising cost ratio 11%
Revenue growth 61%
Legal fee ratio 1%
Accounting fee ratio 4%

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 · viewing · ⤓ 990 PDF
FY2023$647K revenue · ⤓ 990 PDF
FY2022$215K revenue · ⤓ 990 PDF

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Sources

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