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Monarch Music & Arts Community

EIN 88-1746065 · Louisville, KY

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

LegitimacyPassesRegistration and standingFinancial healthGood85 out of 100GovernanceFair59 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

The Monarch Music & Arts Community is a co-working space that serves as a communal hub for the creation, education, collaboration, performance, and advancement of original music and art in Louisville, KY. The organization's mission is to encourage, promote, and support local artists while promoting music and art appreciation and education in our community. The organization's goal is to unite, inspire, and uplift local artists, and our entire community, as we cultivate new creative connections beyond our city.

Income
$222,769
Spending
$203,054
Spent on programs
78%
Reserves
3.2 months of spending
Largest source of income
donations and private grants, 58%
Employees
0
Volunteers
15
Highest pay
$46,000, president

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 85 out of 100. Higher than 66% of charities in its peer group (arts and culture, under $250k).

  • Reserves

    20 of 35

    Spendable reserves would cover 3.2 months of spending.

  • Debt

    20 of 20

    It owes 0% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 9% of income.

  • Income trend

    15 of 15

    Income rose 45% on the year before.

  • Spending floor

    15 of 15

    78% of spending went to programs and raising each dollar of donations cost 12 cents.

Source: Form 990 for the year ending December 31, 2024, 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

    5 of 25

    2 of 4 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a 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

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • No reported misuse

    10 of 10

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

Source: Form 990 for the year ending December 31, 2024, 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 (3)
  1. $62,311 spent. Music and arts community hub and resource center: The organization operates and maintains a 3,000 sqft facility (leased) dedicated to the creation, education, collaboration, performance and furtherance of original music and art. The facility provides: Writing, rehearsal, and performance space for artists of all skill levels. Workshops, community events and educational programming to artists of all skill levels and the public at large. Professional grade tools, resources and platforms for local and touring artists to connect, collaborate and perform. Shared equipment/resource libraries to empower artists of all backgrounds to thrive and succeed in their artistic endeavors. BYO communal space for work, play, learning, advancement and fellowship in music and arts. In 2024 alone, the facility hosted intimate performances by 711 local artists, 98 regional and national touring artists. In June 2023, co-working memberships were launched to the public. At the end of 2024, the facility was home to 228 active members.
  2. $67,039 spent. Community events, free and donation based: The organization organizes and hosts a variety of public events and performances that showcase local/regional/national talent, celebrate artistic diversity, and provide platforms for artists to share their work at our physical location. These events include concerts and performances, educational workshops, art exhibitions, and collaborative projects that engage both local and touring artists, and the community at large. In 2024, the organization hosted 117 free and donation-based community concerts open to the general public, and 21 special ticketed events, with an estimated total of over 4,500 attendees.
  3. $29,557 spent. Educational programming and arts appreciation: The organization provides educational programming and workshops designed to nurture artistic talent, provide skills training, and promote artistic expression among individuals of all ages and backgrounds. Examples of programming provided in 2024 includes: monthly genre jams and round table discussions, monthly mental health wellness learning series for artists and community, free guitar workshop series, songwriter's rounds and performance series, free outdoor art exhibits featuring local painters/sculptors/musicians.

Source: Form 990 for the year ending December 31, 2024, 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 December 2024.

    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 December 2023.

    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.