Musical Fund Society Of Philadelphia
- Assets
- $3.4m
- Revenue
- $90.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 10/1942
- Data as of
- 05/2023
- EIN
- 23-0901643
Organization Overview
Musical Fund Society Of Philadelphia is located in Philadelphia, PA. The organization was established in 1942. 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. Musical Fund Society Of Philadelphia is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 05/2023, Musical Fund Society Of Philadelphia generated $90.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $140.4k during the year ending 05/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Musical Fund Society Of Philadelphia has awarded 30 individual grants totaling $271,538. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ENRICHES THE MUSICAL LIFE OF PHILADELPHIA THROUGH ITS GRANTS, AWARDS, PERFORMANCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDING OF GRANTS TO MUSICAL INSTITUTIONS AND MUSICIANS TO ASSIST IN CAREER ADVANCEMENT IN THE MUSICAL ARTS AND TO SUPPORT PROGRAMS WHICH PROMOTE THE CULTIVATION OF SKILL AND DIFFUSION OF TASTE IN MUSIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Blacksberg President | OfficerTrustee | 8 | $0 |
Lisa Miller Vice President | OfficerTrustee | 4 | $0 |
Nancy Drye Treasurer | OfficerTrustee | 4 | $0 |
David Webber Secretary | OfficerTrustee | 4 | $0 |
Paul Bryan Board Member | Trustee | 1 | $0 |
Catherine Cahill Board Member | Trustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $14,970 |
| Investment income | $120,702 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$45,528 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $90,144 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $59,180 |
| Grants and other assistance to domestic individuals. | $5,000 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,411 |
| Fees for services: Other | $10,202 |
| Advertising and promotion | $0 |
| Office expenses | $3,266 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $1,050 |
| All other expenses | $0 |
| Total functional expenses | $140,400 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,243 |
| Savings and temporary cash investments | $18,985 |
| 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 | $3,342,278 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,378,506 |
| Accounts payable and accrued expenses | $1,282 |
| 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 | $1,282 |
| Net assets without donor restrictions | $3,356,163 |
| Net assets with donor restrictions | $21,061 |
| 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 | $3,378,506 |
Grants Awarded
Over the last fiscal year, Musical Fund Society Of Philadelphia has awarded $20,880 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
PRISM QUARTET INC PURPOSE: PRISM QUARTET INSTITUTE | $5,280 |
DOLCE SUONO CHAMBER CONCERT SERIES PURPOSE: GENERAL OPERATIONS | $5,300 |
THE MANN CENTER PURPOSE: GENERAL OPERATIONS | $5,200 |
ARS NOVA PURPOSE: GENERAL OPERATIONS | $5,100 |