Rockport Music Inc
- Assets
- $31.8m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 44
- Location
- Rockport, MA
- Founding
- 07/1984
- Data as of
- 08/2020
- EIN
- 22-2479696
Organization Overview
Rockport Music Inc is located in Rockport, MA. The organization was established in 1984. 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 08/2022, Rockport Music Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rockport 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 08/2020, Rockport Music Inc generated $3.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $3.6m during the year ending 08/2020. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 6 years. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE A LOVE AND UNDERSTANDING OF MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROCKPORT MUSIC IS A PREMIER CONCERT DESTINATION WITH ITS SEASIDE SHALIN LIU PERFORMANCE CENTER. A WORLD-CLASS ARTS PRESENTER BRINGING A WIDE VARIETY OF MUSIC, INCLUDING CLASSICAL CHAMBER MUSIC, JAZZ, FOLK, POP AND GLOBAL MUSIC. ADDITIONALLY, ROCKPORT MUSIC PRESENTS THE HIGHEST QUALITY IN BROADCAST PRESENTATIONS BY THE METROPOLITAN OPERA, THE NATIONAL THEATRE OF ENGLAND, AND MANHATTAN SHORT FILM FESTIVAL. ROCKPORT MUSIC HAS REBUILT ITS ANNUAL PRESENTATIONS TO NEARLY THE SAME LEVEL AS PRE-PANDEMIC WITH 120 CONCERTS AND 39 BROADCASTS, ANNUALLY, WITH ATTENDANCE OVER 33,000. IN THIS PAST YEAR, ROCKPORT MUSIC'S EDUCATION PROGRAMS SERVED OVER 550 STUDENTS THROUGH 25 SCHOOL VISITS AND THE COMMUNITY ENGAGEMENT SERIES REACHED OVER 1,400. THE ORGANIZATION HAS CONTINUED VIRTUAL CONCERT OFFERINGS THROUGH THE YEAR BUT TRANSITIONED TO OFFERING CONCERT HIGHLIGHTS OF 10-12 CONCERTS/YEAR.
WE ARE DISTINGUISHED BY OUR EXPANSIVE EDUCATIONAL PROGRAMS, WHICH DEEPEN AN APPRECIATION FOR GREAT MUSIC AND MAKE ENRICHING MUSICAL EXPERIENCES ACCESSIBLE TO ALL AGES. WE NURTURE NEW AUDIENCES AND INSPIRE FUTURE ARTISTS AND PATRONS THROUGH INNOVATIVE AND INTERACTIVE PROGRAMS. THE EDUCATIONAL PROGRAMS HAVE TRANSITIONED BACK TO ALL IN-CLASSROOM PROGRAMMING WITH PRESENTATIONS BY AFRICAN DRUMMER SOWAH MENSAH, THE AEOLUS QUARTET, THE CALLIOPE BRASS. ADDITIONALLY, THE RETURN OF THE JAZZ WORKSHOP IN AUGUST 2022 HAD 30 ENTHUSIASTIC JAZZ STUDENTS PARTICIPATING. THE ORGANIZATION HAS IS UNDERTAKING DEIAB INITIATIVES IN BOTH EDUCATION, PROGRAMMING AND THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Beadle Executive Director | Officer | 40 | $184,762 |
Lori Correale Director Of Development | 40 | $104,980 | |
Jeannie Mcintyre Vice-Chair | OfficerTrustee | 4 | $0 |
Dianne Luby Treasurer | OfficerTrustee | 4 | $0 |
Edward Becker Vice-Chair | OfficerTrustee | 4 | $0 |
Linda Walker Clerk/secretary | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,647,283 |
| Investment income | $196,870 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $109,125 |
| Net Gain/Loss on Asset Sales | -$16,358 |
| Net Income from Fundraising Events | -$18,023 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,720,672 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,450 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $186,655 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,105,082 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $157,023 |
| Payroll taxes | $102,710 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,500 |
| Fees for services: Accounting | $20,962 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,362 |
| Advertising and promotion | $145,877 |
| Office expenses | $26,764 |
| Information technology | $91,446 |
| Royalties | $0 |
| Occupancy | $253,652 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,170 |
| Interest | $100,735 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $554,536 |
| Insurance | $87,196 |
| All other expenses | $0 |
| Total functional expenses | $3,641,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $542,849 |
| Savings and temporary cash investments | $437,543 |
| Pledges and grants receivable | $981,440 |
| Accounts receivable, net | $6,615 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,841 |
| Prepaid expenses and deferred charges | $160,112 |
| Investments—publicly traded securities | $11,684,657 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $31,791,427 |
| Accounts payable and accrued expenses | $203,887 |
| Grants payable | $0 |
| Deferred revenue | $163,531 |
| 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 | $2,691,067 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,058,485 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $28,732,942 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rockport Music Inc has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Institution For Savings In Newbrypt & Its Vcnty Chrtble Foundation Inc Newburyport, MA PURPOSE: EXEMPT PURPOSE | $2,500 |
Endowment Analysis
| Beg. Balance | $11,298,695 |
| Earnings | -$885,960 |
| Net Contributions | $625,212 |
| Other Expense | $317,386 |
| Ending Balance | $10,720,561 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Handel And Haydn Society Boston, MA | $29,038,335 | $22,868,295 |
Groton Hill Music Inc Groton, MA | $210,830,113 | $41,196,688 |
Newport Festivals Foundation Inc Essex, MA | $20,080,911 | $11,132,304 |
Whyhunger Inc New York, NY | $5,607,325 | $7,869,621 |
Caramoor Center For Music & The Arts Inc Katonah, NY | $49,439,168 | $6,140,543 |
Save The Music Foundation New York, NY | $5,156,662 | $8,206,045 |
Rockport Music Inc Rockport, MA | $31,791,427 | $3,720,672 |
American Friends Of Les Arts Florissants Inc New York, NY | $1,107,997 | $2,546,808 |
Chicken & Egg Pictures Inc Brooklyn, NY | $9,525,742 | $4,390,371 |
Young Concert Artists Inc New York, NY | $10,777,916 | $2,607,839 |
New Music Usa Inc New York, NY | $21,074,524 | $3,287,635 |
Original Music Workshop Inc Brooklyn, NY | $4,224,196 | $2,706,667 |