Somerset Friends Of Music Inc
- Assets
- $27.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Somerset, MA
- Founding
- 09/1977
- Data as of
- 12/2022
- EIN
- 04-2623595
Organization Overview
Somerset Friends Of Music Inc is located in Somerset, MA. The organization was established in 1977. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somerset Friends Of Music 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 12/2022, Somerset Friends Of Music Inc generated $37.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (18.7%) each year. All expenses for the organization totaled $55.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (11.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
THE ACTIVITIES FOR THE SOMERSET FRIENDS OF MUSIC DIRECTLY BENEFIT THE PARTICIPATING STUDENT PERFORMERS WITHIN THE SOMERSET SCHOOL SYSTEMS. ACTIVITIES INCLUDE DISTRICT COMPETITION, DRAMA PRODUCTION, MARCHING ARTS COMPETITIONS, SHOW CHOIR, JAZZ BAND, AND THE VARIOUS BAND / STRING / CHOIR ENSEMBLES. NOT ONLY DO THE STUDENTS DIRECTLY BENEFIT FROM THE EDUCATION, PRACTICE, AND COMPETITION PROVIDED BY THE SOMERSET FRIENDS OF MUSIC, BUT THE COMMUNITY BENEFITS AS WELL. GRANTS OF $31,435 ARE SCHOLARSHIPS AWARDED TO GRADUATING SENIORS TO ALLOW THEM TO PURSUE THEIR EDUCATION AND ARTISTIC PURSUITS, AS WELL AS GRANTS TO SUPPORT MUSIC OPPORTUNITIES WITHIN THE SCHOOL SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Ferriera President | 10 | $0 | |
Janis Johnson Vice President | 10 | $0 | |
Brian Johnson Treasurer | 10 | $0 | |
Stephanie Field Secretary | 5 | $0 | |
Erica Souza Coresponding Secretary | 5 | $0 | |
Helena Sowa Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,074 |
| Total Program Service Revenue | $24,943 |
| Membership dues | $225 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $2,816 |
| Other Revenue | $0 |
| Total Revenue | $37,058 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $23,852 |
| Total expenses | $55,287 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $27,838 |
| Other assets | $0 |
| Total assets | $27,838 |
| Total liabilities | $0 |
| Net assets or fund balances | $27,838 |