Music Performance Trust Fund
- Assets
- $10.1m
- Revenue
- $4.6m
- Investments
- $1.1m
- Employees
- 5
- Location
- New York, NY
- Founding
- 07/1950
- Data as of
- 04/2022
- EIN
- 13-6295168
Organization Overview
Music Performance Trust Fund is located in New York, NY. The organization was established in 1950. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 04/2022, Music Performance Trust Fund employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Music Performance Trust Fund 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 04/2022, Music Performance Trust Fund generated $4.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.6% each year . All expenses for the organization totaled $3.4m during the year ending 04/2022. While expenses have increased by 13.6% 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
TO PROVIDE LIVE FREE CONCERTS TO THE PUBLIC WITHIN THE UNITED STATES AND CANADA
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR THE ORGANIZATION PROVIDED OVER 2,542 FREE CONCERTS (IN-PERSON AND STREAMING) WITHIN THE UNITED STATES AND CANADA, ATTENDED BY APPROXIMATELY 355,689 PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Beck Trustee | OfficerTrustee | 40 | $125,000 |
Alburn H Elvin Director Of Finance | Officer | 40 | $111,152 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $37,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $37,500 |
| Total Program Service Revenue | $4,443,067 |
| Investment income | $131,292 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$24,018 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,587,841 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $88,436 |
| Grants and other assistance to Foreign Orgs/Individuals | $15,020 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $331,349 |
| Compensation of current officers, directors, key employees. | $109,345 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $224,541 |
| Pension plan accruals and contributions | $28,898 |
| Other employee benefits | $82,699 |
| Payroll taxes | $38,780 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,661 |
| Fees for services: Accounting | $58,035 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30 |
| Advertising and promotion | $0 |
| Office expenses | $11,251 |
| Information technology | $6,944 |
| Royalties | $0 |
| Occupancy | $50,000 |
| Travel | $8,638 |
| 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 | $8,295 |
| Insurance | $8,447 |
| All other expenses | $6,829 |
| Total functional expenses | $3,380,615 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $266,048 |
| Savings and temporary cash investments | $3,693,285 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $15,146 |
| Investments—publicly traded securities | $5,059,914 |
| Investments—other securities | $1,094,494 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,128,887 |
| Accounts payable and accrued expenses | $25,635 |
| 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 | $0 |
| Total liabilities | $25,635 |
| Net assets without donor restrictions | $10,103,252 |
| Net assets with donor restrictions | $0 |
| 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 | $10,128,887 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Music Performance Trust Fund has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Music Performance Trust Funds 2 New York, NY PURPOSE: MUSICAL PERFORMANCES, WITHOUT ANY ADMISSION, FOR THE PURPOSE OF CONTRIBUTING TO THE PUBLIC KNOWLEDGE AND APPRECIATION OF MUSIC. | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Democracy Prep Public Schools New York, NY | $18,413,140 | $22,499,463 |
Theatre Development Fund Inc New York, NY | $10,654,511 | $12,739,705 |
New England Foundation For The Arts Inc Boston, MA | $37,132,144 | $19,074,510 |
New York Foundation For The Arts Inc Brooklyn, NY | $8,779,392 | $10,995,267 |
Moving Picture Institute New York, NY | $5,367,184 | $7,460,439 |
Liz Claiborne & Art Ortenberg Foundation New York, NY | $208,358,667 | $11,296,700 |
Pseg Foundation Inc Newark, NJ | $49,926,270 | $78,342 |
United Way Of Lancaster County Lancaster, PA | $8,532,432 | $6,314,775 |
Art Of Problem Solving Initiative Inc New York, NY | $11,649,838 | $7,944,885 |
Performance Zone Inc New York, NY | $3,205,718 | $5,815,345 |
America-Israel Cultural Foundation Inc New York, NY | $5,736,559 | $3,348,442 |
Music Performance Trust Fund New York, NY | $10,128,887 | $4,587,841 |