World Music Inc
- Assets
- $1.1m
- Revenue
- $959.8k
- Investments
- $0.0
- Employees
- 8
- Location
- Cambridge, MA
- Founding
- 10/1994
- Data as of
- 06/2021
- EIN
- 22-3036665
Organization Overview
World Music Inc, operating under the name Global Arts Live, is located in Cambridge, MA. The organization was established in 1994. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Global Arts Live employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Global Arts Live 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 06/2021, Global Arts Live generated $959.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.0%) each year. All expenses for the organization totaled $695.0k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (15.5%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRESENTATION OF A MULTI-DISCIPLINARY AND CULTURALLY DIVERSE PERFORMING ARTS SERIES THAT CONNECTS PERFORMING ARTISTS FROM MANY CULTURES AND DISCIPLINES WITH THE DIVERSE COMMUNITIES OF GREATER BOSTON.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRESENTATION OF A MULTI-DISCIPLINARY AND CULTURALLY DIVERSE PERFORMING ARTS SERIES THAT CONNECTS PERFORMING ARTISTS FROM MANY CULTURES AND DISCIPLINES WITH THE DIVERSE COMMUNITIES OF GREATER BOSTON.
THE PRESENTATION OF A MULTI-DISCIPLINARY AND CULTURALLY DIVERSE PERFORMING ARTS SERIES THAT CONNECTS PERFORMING ARTISTS FROM MANY CULTURES AND DISCIPLINES WITH THE DIVERSE COMMUNITIES OF GREATER BOSTON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maure Aronson Executive Di | 40 | $109,385 | |
Pamela Coravos Secretary | OfficerTrustee | 1 | $0 |
Edith Joyce Treasurer | OfficerTrustee | 1 | $0 |
Nagesh Mahanthappa President | OfficerTrustee | 1 | $0 |
Purnima Thakre Braiker Board Member | Trustee | 1 | $0 |
Alan Geismer Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $870,577 |
| Investment income | -$25 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $959,768 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $301,308 |
| Pension plan accruals and contributions | $29,818 |
| Other employee benefits | $38,632 |
| Payroll taxes | $30,216 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,979 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,400 |
| Travel | $0 |
| 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 | $3,460 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $694,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,450 |
| Savings and temporary cash investments | $860,328 |
| Pledges and grants receivable | $18,000 |
| Accounts receivable, net | $8,883 |
| 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 | $15,258 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,052,825 |
| Accounts payable and accrued expenses | $86,703 |
| Grants payable | $0 |
| Deferred revenue | $58,861 |
| 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 | $107,168 |
| Total liabilities | $252,732 |
| 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 | $800,093 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that World Music Inc has recieved totaling $42,925.
| Awarding Organization | Amount |
|---|---|
New England Foundation For The Arts Inc Boston, MA PURPOSE: GENERAL OPERATING, CREATION AND/OR PRESENTING SUPPORT | $14,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $11,325 |
New England Foundation For The Arts Inc Boston, MA PURPOSE: GENERAL OPERATING, CREATION AND/OR PRESENTING SUPPORT | $10,000 |
Cambridge Community Foundation Cambridge, MA PURPOSE: PROGRAM ASSISTANCE | $7,500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $100 |
Endowment Analysis
| Beg. Balance | $18,000 |
| Ending Balance | $18,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Carnegie Hall Corporation New York, NY | $718,141,781 | $55,324,262 |
Chautauqua Institution Chautauqua, NY | $271,934,218 | $47,780,826 |
New York City Center Inc New York, NY | $75,936,924 | $33,333,714 |
Providence Performing Arts Center Providence, RI | $61,822,286 | $33,498,809 |
Wang Theatre Inc Boston, MA | $18,276,113 | $31,405,491 |
Horace Bushnell Memorial Hall Corporation Hartford, CT | $69,994,331 | $15,110,595 |
Rochester Broadway Theatre League Inc Rochester, NY | $14,097,725 | $11,757,109 |
Celebrity Series Of Boston Boston, MA | $21,295,635 | $11,486,131 |
Arts Center And Theater Of Schenectady Inc Schenectady, NY | $59,537,808 | $17,534,824 |
Saratoga Springs Performing Arts Center Inc Saratoga Springs, NY | $31,890,328 | $10,810,263 |
Tremont Theatre Inc Boston, MA | $4,028,653 | $4,834,729 |
Stamford Center For The Arts Inc Stamford, CT | $18,714,807 | $7,026,118 |