Musart Society
- Assets
- $4.3m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 07/1981
- Data as of
- 12/2021
- EIN
- 23-7080633
Organization Overview
Musart Society is located in Cleveland, OH. The organization was established in 1981. 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. Musart Society 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 12/2021, Musart Society generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 60.3% each year . All expenses for the organization totaled $147.3k during the year ending 12/2021. While expenses have increased by 5.3% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT MUSICAL PERFORMANCES OF THE CLEVELAND MUSEUM OF ART
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECITAL EXPENSE PROVIDING FREE MUSIC AND EDUCATION TO THE PUBLIC. ATTENDED BY THOUSANDS OF PEOPLE EACH YEAR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lute Quintrell Treasurer | OfficerTrustee | 2 | $0 |
Christian Holtkamp President | OfficerTrustee | 4 | $0 |
James Dickinson Secretary | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $60,435 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,597,030 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,657,465 |
| 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. | $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 | $1,860 |
| 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 | $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 | $0 |
| All other expenses | $200 |
| Total functional expenses | $147,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,646 |
| Savings and temporary cash investments | $0 |
| 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 | $4,246,299 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,279,945 |
| 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 | $3,995,872 |
| Net assets with donor restrictions | $284,073 |
| 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 | $4,279,945 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Musical Society Ann Arbor, MI | $42,227,393 | $9,895,639 |
Flint And Genesee Chamber Foundation Flint, MI | $674,613 | $5,341,436 |
Sphinx Organization Inc Detroit, MI | $23,511,690 | $14,240,622 |
Detroit Jazz Festival Productions Inc Harper Woods, MI | $289,388 | $2,953,500 |
Detroit Jazz Festival Foundation Harper Woods, MI | $1,089,629 | $3,431,745 |
Play On Philly Philadelphia, PA | $3,128,034 | $1,933,765 |
Liveconnections Org Philadelphia, PA | $1,829,032 | $2,774,957 |
Irving S Gilmore International Keyboard Festival Kalamazoo, MI | $14,163,453 | $2,605,010 |
Percussive Arts Society Inc Indianapolis, IN | $5,047,679 | $2,367,696 |
Rainey Institute Cleveland, OH | $11,251,048 | $1,722,143 |
Musical Arts Assn Orch End Fd Brooklyn, OH | $16,962,824 | $1,881,945 |
Musicopia Inc Philadelphia, PA | $886,541 | $1,214,458 |