Masterwork Music & Art Foundation
- Assets
- $1.0m
- Revenue
- $40.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Cranford, NJ
- Founding
- 09/1978
- Data as of
- 06/2022
- EIN
- 22-1717253
Organization Overview
Masterwork Music & Art Foundation, operating under the name Co Lavinia Mears Ruby Cpallc, is located in Cranford, NJ. The organization was established in 1978. According to its NTEE Classification (A6E) the organization is classified as: Performing Arts Schools, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is the central organization for a national or regional group of organizations. Co Lavinia Mears Ruby Cpallc 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 06/2022, Co Lavinia Mears Ruby Cpallc generated $40.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $75.7k during the year ending 06/2022. 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 PROMOTE AND SUPPORT THE ARTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTING WORTHY MUSIC AND ART ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sulmon A Javed President | Officer | 2 | $0 |
Joseph White Secretary | Officer | 1 | $0 |
Gwyneth Mooney Treasurer | Officer | 2 | $0 |
Mathews Philips Vice President | Officer | 2 | $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 | $6,389 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,389 |
| Total Program Service Revenue | $50 |
| Investment income | $41,266 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,977 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,728 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $18,823 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,546 |
| Fees for services: Accounting | $3,887 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,678 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,400 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,323 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $321 |
| All other expenses | $22,184 |
| Total functional expenses | $75,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,362 |
| Savings and temporary cash investments | $104,750 |
| 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 | $0 |
| Investments—publicly traded securities | $894,957 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,013,069 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $1,013,069 |
| 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 | $1,013,069 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of The Third Street Music School Settlement Inc New York, NY | $23,512,540 | $9,331,737 |
Professional Childrens School Inc New York, NY | $20,795,903 | $7,913,959 |
Elaine Kaufman Cultural Center-Lucy Moses School For Music And Dance New York, NY | $27,086,297 | $8,434,600 |
Usdan Center For The Creative And Performing Arts Wheatley Heights, NY | $9,094,063 | $7,842,834 |
The Brooklyn Queens Conservatory Of Music Brooklyn, NY | $5,364,852 | $5,242,264 |
Academy Of Vocal Arts Philadelphia, PA | $44,375,102 | $5,042,502 |
Marlboro School Of Music Inc Philadelphia, PA | $99,638,142 | $11,583,017 |
Hoff Barthelson Music School Scarsdale, NY | $5,808,540 | $3,629,362 |
David Hochstein Memorial Music School Inc Rochester, NY | $9,075,130 | $4,251,000 |
Diller-Quaile School Of Music Inc New York, NY | $7,580,711 | $3,116,050 |
The Music School Of Delaware Inc Wilmington, DE | $14,353,950 | $12,233,069 |
Friends Of The Mozartina Musical Arts Conservatory Inc Tarrytown, NY | $3,401,359 | $3,102,362 |