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Pegasus Musical Society

EIN 75-2312993 · Dallas, TX

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak39 out of 100GovernanceFair59 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

INTRODUCTION NBSP;IN NBSP;CONCERT NBSP;OF NBSP;THE NBSP;NEGLECGTED NBSP;REPERTORY NBSP;OF NBSP;THE NBSP;SPANISH NBSP; AMP; NBSP;NEW NBSP;WORLD NBSP;17TH NBSP;AND NBSP;18TH NBSP;CENTURIES NBSP;AND NBSP;EXPLORATION NBSP;OF NBSP;THE NBSP;HISPANIC NBSP;HERITAGE NBSP;OF NBSP;WHICH NBSP;IT NBSP;IS NBSP;A NBSP;PART NBSP;EDUCATING NBSP;THE NBSP;PUBLIC NBSP;OF NBSP;THE NBSP;IMPORTANCE NBSP;OF NBSP;THE NBSP;REPERTORY NBSP;AND NBSP;ITS NBSP;BROADER NBSP;CULTURAL NBSP;IMPLICATIONS

Income
$243,679
Spending
$257,494
Spent on programs
75%
Reserves
-0.6 months of spending
Largest source of income
donations and private grants, 59%
Employees
0
Highest pay
$38,000, artistic director

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 39 out of 100. Higher than 12% of charities in its peer group (arts and culture, under $250k).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    5 of 20

    It owes 52% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 6% of income.

  • Income trend

    15 of 15

    Income rose 4% on the year before.

  • Spending floor

    15 of 15

    75% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 59 out of 100. Higher than 44% of charities in its peer group (arts and culture, under $250k).

  • Independent board

    25 of 25

    10 of 10 voting board members are independent.

  • Conflict of interest policy

    0 of 15

    Reports no written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $257,494 spent. CONTINUED ITS 7 CONCERT SUBSCRIPTION SERIES ADDING A CONCERT FOR ROMA ROOTS OF FLAMENCO TANGO DANCE EVENING AND BOLIVIAN VOCAL MUSIC. FOR MORE DISADVANTAGED YOUTH OF DALLAS IT CONTINUED ITS ANNUAL SUMMER STRINGS CAMP AND MUSIC LESSONS IN PUBLIC SCHOOLS. IT CONTINUED DEVELOPING SOFTWARE TO SUPPORT ITS LEGACY LIBRARY OF OPERATIC AND CONCERT RECORDINGS OF LITTLE-KNOWN SPANISH LITURGICAL MUSIC. IT SERVED ABOUT 2500 INDIVIDUALS

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since June 1990.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.