Music Worcester Inc
- Assets
- $11.0m
- Revenue
- $5.6m
- Investments
- $8.0m
- Employees
- 8
- Location
- Worcester, MA
- Founding
- 11/1943
- Data as of
- 06/2022
- EIN
- 04-2171207
Organization Overview
Music Worcester Inc is located in Worcester, MA. The organization was established in 1943. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Music Worcester Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Music Worcester Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Music Worcester Inc generated $5.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.0% each year . All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 5.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENRICH CULTURAL LIFE
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSIC WORCESTER - ENHANCES THE ACCESS AND APPRECIATION OF THE HIGHEST QUALITY MUSIC VIA AFFORDABLE CONCERTS, RECITALS AND PERFORMANCES, MUSIC FESTIVALS, AND COLLABORATION WITH EDUCATIONAL AND NON-PROFIT BUSINESS ORGANIZATIONS
WORCESTER CHORUS - SPONSORS A COMMUNITY CHORUS, WHICH PERFORMS CHORAL MASTERWORKS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adrien Finlay Executive Director | Trustee | 50 | $110,890 |
Robert Sorrenti President | OfficerTrustee | 1 | $0 |
Anthony Smith Vice President | OfficerTrustee | 1 | $0 |
David Mayotte Treasurer | OfficerTrustee | 1 | $0 |
Alice Lambert Clerk | OfficerTrustee | 1 | $0 |
Virginia Vaughan Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Opus 3 Artists Llc Talent Agency Services | 6/29/20 | $262,000 |
Columbia Artists Management Llc Talent Agency Services | 6/29/20 | $123,215 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $14,880 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,071,185 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,086,065 |
| Total Program Service Revenue | $332,403 |
| Investment income | $212,853 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$52,111 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,579,210 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $390,172 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $11,753 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,000 |
| Advertising and promotion | $70,897 |
| Office expenses | $24,594 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,756 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $586 |
| Insurance | $3,955 |
| All other expenses | $105,229 |
| Total functional expenses | $1,387,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,258,976 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,624,634 |
| Accounts receivable, net | $6,507 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $94,300 |
| Net Land, buildings, and equipment | $2,769 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $8,032,172 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $500 |
| Total assets | $11,019,858 |
| Accounts payable and accrued expenses | $12,424 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $130,326 |
| Total liabilities | $142,750 |
| Net assets without donor restrictions | $2,572,966 |
| Net assets with donor restrictions | $8,304,142 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,019,858 |