Bob Moog Memorial Foundation For Electronic Music Inc is located in Asheville, NC. The organization was established in 2007. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Bob Moog Memorial Foundation For Electronic Music Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bob Moog Memorial Foundation For Electronic 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, Bob Moog Memorial Foundation For Electronic Music Inc generated $599.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.6% each year . All expenses for the organization totaled $696.5k during the year ending 12/2022. While expenses have increased by 17.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE PEOPLE OF ALL AGES THROUGH THE INTERSECTION OF SCIENCE, MUSIC, TECHOLOGY AND INNOVATION. SIGNIFICANT ACTIVITIES ARE OUR HALLMARK EDUCATIONAL PROJECT DR. BOB'S SOUNDSCHOOL, BOB MOOG FOUNDATION ARCHIVE AND THE MOOGSEUM WHICH BRINGS BOB MOOG'S LEGACY TO LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022 OUR HALLMARK EDUCATION PROJECT, DR. BOB'S SOUNDSCHOOL, SERVED 3,000 STUDENTS IN 125 CLASSROOMS IN THE ASHEVILLE AREA, PROVIDING AN INNOVATIVE 10- WEEK CURRICULUM, TEACHING THE SCIENCE OF SOUND THROUGH MUSIC AND TECHNOLOGY. WE DELIVERED OVER 30,000 INDIVIDUAL LESSONS TO TWO SCHOOL DISTRICTS. WE CONTINUED DEVELOPMENT AND INVESTMENT OF RESOURCES TO CREATE A CUSTOM THEREMIN-BASED EDUCATIONAL TOOL, THE THERESCOPE, WHICH, WHEN READY TO BE MANUFACTURED, WILL ALLOW US TO SERVE CHILDREN NATIONWIDE THROUGH OUR PROGRAM. BY THE END OF 2022, WE WERE IN THE FINAL STAGES OF DEVELOPING PROTOTYPES FOR BOTH A HARDWARE AND SOFTWARE VERSION OF THE THERESCOPE.
THE PRESERVATION AND EXPANSION OF THE BOB MOOG FOUNDATION ARCHIVES CONTINUED AS WE ADDED AND RESTORED NUMEROUS DOCUMENTS, CORRESPONDENCE, MEMORABILIA, VIDEO, AND IMPORTANT VINTAGE INSTRUMENTS TO OUR COLLECTION,, INCLUDING BUT NOT LIMITED TO A VINTAGE MOOG SOURCE SIGNED BY BOB MOOG. WE DEVELOPED DETAILED CATALOGING AND LABELING PROCEDURES FOR ALL ARCHIVE MATERIALS. WE CONTINUED OUR EFFORTS TO ASCENSTION ITEMS INTO OUR ARCHIVAL SOFTWARE, COLLECTOR'S SYSTEM. FINALLY IN LATE 2022, THE BOB MOOG FOUNDATION ARCHIVES GARNERED THE ATTENTION OF THE NATIONAL ENDOWMENT FOR THE HUMANITIES AND WE WERE AWARDED A GRANT TO HAVE OUR ARCHIVES ASSESSED BY A PROFESSIONAL CONSERVATIONIST. THE EXECUTION OF THAT GRANT WILL TAKE PLACE IN 2023.
THE MOOGSEUM, A 1,400-SQUARE-FOOT INTERACTIVE PUBLIC-FACING MUSEUM LOCATED IN DOWNTOWN ASHEVILLE, NC, OPENED ON MAY 23, 2019. THE MOOGSEUM IS COMPRISED OF 12 CUSTOM-DESIGNED EXPERIENTIAL EXHIBITS, THAT WERE CREATED TO INSPIRE AND ENGAGE PEOPLE OF ALL AGES AND KNOWLEDGES LEVEL. THE MOOGSEUM SEES OVER 10,000 VISITORS ANNUALLY, AND IS HERALDED LOCALLY, REGIONALLY, NATIONALLY, AND INTERNATIONALLY AS ONE OF THE BEST MUSEUMS OF ITS KIND. WE HAVE WELCOMED OVER 30,000 VISITORS TO THE MOOGSEUM SINCE ITS INCEPTION. IN EARLY 2022, WE CLOSED THE MOOGSEUM FOR SEVEN WEEKS FOR EXPANSION, OPENING AND RENOVATING THE BACK ROOM THAT HAD BEEN OFFICE SPACE, WHICH ALSO INCREASED OUR CAPACITY FOR MORE VISITORS. TWO NEW CUSTOM EXHIBITS WERE ADDED TO THE NEW SPACE AS PART OF OUR PATCHING SOUND EXPERIENCE, WHICH HIGHLIGHTS THE TECHNOLOGY AND APPLICATION OF MODULAR SYNTHESIS AND GUIDES THE VISITOR HOW TO PATCH A MODULAR SYNTHESIZER. PATCHING SOUND OPENED TO THE PUBLIC IN MAY 2022.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Michelle Moog-Koussa Executive Director | Officer | 60 | $85,000 |
David Mash President | OfficerTrustee | 5 | $0 |
Daniel Keller Vice President | OfficerTrustee | 5 | $0 |
Terence Van Arkel Treasurer | OfficerTrustee | 2 | $0 |
Jerry Kovarsky Secretary | OfficerTrustee | 2 | $0 |
Chris Halaby Board Member | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $3,956 |
Related organizations | $0 |
Government grants | $47,600 |
All other contributions, gifts, grants, and similar amounts not included above | $222,787 |
Noncash contributions included in lines 1a–1f | $12,491 |
Total Revenue from Contributions, Gifts, Grants & Similar | $274,343 |
Total Program Service Revenue | $101,328 |
Investment income | $1,836 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $7,929 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $125,420 |
Net Income from Sales of Inventory | $88,941 |
Miscellaneous Revenue | $0 |
Total Revenue | $599,797 |
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. | $85,000 |
Compensation of current officers, directors, key employees. | $6,018 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $278,013 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $28,967 |
Fees for services: Management | $0 |
Fees for services: Legal | $4,394 |
Fees for services: Accounting | $2,160 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $22,955 |
Advertising and promotion | $24,548 |
Office expenses | $49,790 |
Information technology | $44,667 |
Royalties | $0 |
Occupancy | $60,849 |
Travel | $36,027 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $5,508 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $21,790 |
Insurance | $4,718 |
All other expenses | $3,668 |
Total functional expenses | $696,481 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $20,028 |
Savings and temporary cash investments | $32,336 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $47,876 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $30,697 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $313,290 |
Investments—publicly traded securities | $88,852 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,873 |
Total assets | $534,952 |
Accounts payable and accrued expenses | $53,096 |
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 | $31,192 |
Unsecured mortgages and notes payable | $150,000 |
Other liabilities | $0 |
Total liabilities | $234,288 |
Net assets without donor restrictions | $300,664 |
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 | $534,952 |