Music Performance Trust Fund
- Assets
- $10.7m
- Revenue
- $5.9m
- Investments
- $2.0m
- Employees
- 6
- Location
- New York, NY
- Founding
- 07/1950
- Data as of
- 04/2024
- 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 04/2024, Music Performance Trust Fund employed 6 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 04/2024, Music Performance Trust Fund generated $5.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 23.7% each year . All expenses for the organization totaled $5.9m during the year ending 04/2024. While expenses have increased by 17.5% per year over the past 9 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
2024
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 4,824 (3,334 IN THE UNITED STATES AND 1,490 IN CANADA) FREE CONCERTS (IN-PERSON AND STREAMING), ATTENDED BY APPROXIMATELY 646,000 PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Beck Trustee | OfficerTrustee | 40 | $125,000 |
Andrea Finklestein Co-Chair | Trustee | 1 | $0 |
James Harrington Co-Chair | Trustee | 1 | $0 |
Robert W Johnson Board Member | Trustee | 1 | $0 |
Tracie Parry Board Member | Trustee | 1 | $0 |
Alburn H Elvin Director Of Finance | Officer | 40 | $129,051 |
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 | $32,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,500 |
| Total Program Service Revenue | $5,627,668 |
| Investment income | $252,217 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $34,493 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,946,878 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $125,100 |
| Grants and other assistance to Foreign Orgs/Individuals | $50,162 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $361,365 |
| Compensation of current officers, directors, key employees. | $119,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $291,792 |
| Pension plan accruals and contributions | $34,208 |
| Other employee benefits | $90,173 |
| Payroll taxes | $44,998 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,582 |
| Fees for services: Accounting | $89,204 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $147,083 |
| Office expenses | $11,997 |
| Information technology | $6,318 |
| Royalties | $0 |
| Occupancy | $50,000 |
| Travel | $29,283 |
| 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 | $12,531 |
| Insurance | $8,767 |
| All other expenses | $14,150 |
| Total functional expenses | $5,949,573 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $134,706 |
| Savings and temporary cash investments | $1,713,376 |
| 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 | $12,407 |
| Investments—publicly traded securities | $6,815,444 |
| Investments—other securities | $2,030,802 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,706,735 |
| Accounts payable and accrued expenses | $18,703 |
| 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 | $18,703 |
| Net assets without donor restrictions | $10,688,032 |
| 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 | $10,706,735 |