Guitar Center Music Foundation

Organization Overview

Guitar Center Music Foundation is located in Westlake Village, CA. The organization was established in 2005. According to its NTEE Classification (A68) the organization is classified as: Music, 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. Guitar Center Music Foundation 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 12/2023, Guitar Center Music Foundation generated $665.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 24.5% each year . All expenses for the organization totaled $803.4k during the year ending 12/2023. While expenses have increased by 13.6% per year over the past 8 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.

Since 2020, Guitar Center Music Foundation has awarded 13 individual grants totaling $131,774. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

DONATE RESOURCES TO MUSIC EDUCATION AND THERAPY PROGRAMS SO THAT THEY CAN OFFER MORE PEOPLE MAKE MUSIC AVAILABLE TO EVERYONE IN THE COMMUNITIES IN WHICH WE SERVE, TO PROMOTE ITS IMPORTANCE THROUGH EDUCATION AND MEDIA .

Describe the Organization's Program Activity:

Part 3 - Line 4a

MAKING MUSIC AVAILABLE TO EVERYONE IN THE COMMUNITIES IN WHICH WE SERVE, PROMOTING ITS IMPORTANCE THROUGH EDUCATION AND MEDIA INITIATIVES, AND PROVIDING FINANCIAL AND IN-KIND RESOURCES IN COLLABORATION WITH OTHER ORGANIZATIONS TO ACHIEVE OUR COMMON GOAL. FINANCIAL AND EQUIPMENT GRANTS WERE MADE TO VARIOUS SCHOOLS, MUSIC ACADEMIES, SYMPHONIES, AND OTHER PROGRAMS WITH RELATED GOALS.


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Board, Officers & Key Employees

Name (title)Compensation
David Helfant
Chairman
$0
Leslie Rosenthal
Secretary
$0
Michael Sammis
Treasurer
$0
Anne Buchanan
Director
$0
Wayne Colwell
Director
$0
Don Lombardi
Director
$0

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$641,543
Noncash contributions included in lines 1a–1f $10,695
Total Revenue from Contributions, Gifts, Grants & Similar$641,543
Total Program Service Revenue$0
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $24,376
Miscellaneous Revenue$0
Total Revenue $665,919

Grants Awarded

Over the last fiscal year, Guitar Center Music Foundation has awarded $30,000 in support to 3 organizations.

Grant RecipientAmount

ED BROWN

PURPOSE: SUPPORT

$10,000

FIDELITY CHARITABLE

PURPOSE: SUPPORT

$10,000

FREDERICK FOUNDATION

PURPOSE: SUPPORT

$10,000
View Grant Profile

Peer Organizations

Organization NameAssets
San Francisco Jazz Organization
San Francisco, CA
$26,929,110
Musicares Foundation Inc
Santa Monica, CA
$15,259,540
Music Concourse Community Partnership
San Francisco, CA
$7,317,594
Berkeley Music Group
Berkeley, CA
$5,578,492
Alice And Eleonore Schoenfeld International Music Society Inc
Arcadia, CA
$288,818
Monterey Jazz Festival
Monterey, CA
$4,322,805
Mcdowell Mountain Music Festival Inc
Phoenix, AZ
$3,584,020
Carmel Bach Festival Inc
Carmel, CA
$2,881,087
The John G Shedd Institute For The Arts
Eugene, OR
$3,811,686
New West Symphony Association
Thousand Oaks, CA
$2,583,184
Epacenter
East Palo Alto, CA
$2,929,031
Windtree Foundation
West Covina, CA
$2,843,572
North American Concert Promoters Association
Fresno, CA
$4,511,555
Mosier Community School Foundation Inc
Mosier, OR
$2,915,592
Kronos Performing Arts Assn
San Francisco, CA
$2,774,082
Camerata Pacifica
Santa Barbara, CA
$2,811,256
Music For Minors Inc
San Carlos, CA
$2,335,534
Ojai Festivals Ltd
Ojai, CA
$2,376,892
Villa Musica
San Diego, CA
$1,372,762
Redlands Community Music Association Inc
Redlands, CA
$1,440,096
Musicians At Play Foundation Inc
Valley Village, CA
$1,666,994
Young Musicians Foundation
Los Angeles, CA
$1,133,587
True Concord Voices And Orchestra Inc
Tucson, AZ
$1,022,808
Pacific Boychoir Academy
Oakland, CA
$865,683
American Federation Of Musicians Of The Us & Canada
San Francisco, CA
$1,245,574

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