I Love Music Tour Inc
- Assets
- -$30.4k
- Revenue
- $604.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Jacksonville, FL
- Founding
- 01/2008
- Data as of
- 08/2022
- EIN
- 26-0275756
Organization Overview
I Love Music Tour Inc is located in Jacksonville, FL. The organization was established in 2008. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2022, I Love Music Tour Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. I Love Music Tour 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 08/2022, I Love Music Tour Inc generated $604.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 51.8% each year . All expenses for the organization totaled $635.3k during the year ending 08/2022. While expenses have increased by 53.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE I LOVE MUSIC TOUR FOUNDATION IS TO PROMOTE THE POSITIVE VALUES AND IMPORTANCE OF MUSIC EDUCATION IN OUR SCHOOLS. THE FOUNDATION WILL WORK WITH NATIONAL SPONSORS, DONORS, AND VOLUNTEERS TO ASSIST STUDENTS BY DEVELOPING RESOURCES AND EDUCATIONAL PLATFORMS FOR SCHOOLS ACROSS THE NATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION CONTINUED TO GIVE ARTIST DEVELOPMENT AND DANCE AT THE RHYTHM FACTORY. PROVIDED STUDENT VOLUNTEER OPPORTUNITIES DURING RHYTHM FACTORY EVENTS. WE ALSO WERE ABLE TO HOPE OAK LEAF HIGH SCHOOL WITH A DEVELOPMENT PLAN TO BECOME SELF RELIANT. WE HOSTED A MAJOR CONCERT WITH LIL BABY THAT ALLOWED US TO CONTRIBUTE TO 3 HIGH SCHOOL MUSIC PROGRAMS. WE ALSO WAS ABLE TO SERVICE THE GREENWOOD SCHOOL WITH A DRUM LINE PROGRAM. WE PURCHASED ALL THE DRUMS AND PROVIDED THE LESSONS AT NO CHARGE TO THE SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Butler Executive Director | Officer | 40 | $0 |
Sam Clark Vice President | Officer | 10 | $0 |
William Cottam Vice President | Officer | 10 | $0 |
Lola Argalas Member At Large | Trustee | 10 | $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 | $657 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $657 |
| Total Program Service Revenue | $604,204 |
| Investment income | $81 |
| 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 | $604,942 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| 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 | $266,057 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,875 |
| Payroll taxes | $18,469 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $147 |
| Fees for services: Accounting | $4,113 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $140,706 |
| Advertising and promotion | $16,979 |
| Office expenses | $28,633 |
| Information technology | $200 |
| Royalties | $0 |
| Occupancy | $112,773 |
| Travel | $33,555 |
| 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 | $1,150 |
| All other expenses | $7,665 |
| Total functional expenses | $635,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$30,381 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | -$30,381 |
| 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 | -$30,381 |
| 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 | -$30,381 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that I Love Music Tour Inc has recieved totaling $4,839.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: CHARITABLE PROGRAM ACTIVITIES SUPPORT | $4,839 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Arts Of Central Florida Inc Orlando, FL | $7,262,760 | $11,256,012 |
Gwinnett Championship Foundation Inc Duluth, GA | $476,337 | $4,123,025 |
Digital Convergence Alliance Inc Tampa, FL | $2,233,099 | $3,394,790 |
Cobb Community Foundation Inc Atlanta, GA | $18,425,025 | $3,579,591 |
Creative City Collaborative Of Delray Beach Inc Delray Beach, FL | $1,041,652 | $1,722,998 |
School Of The Arts Foundation Inc West Palm Beach, FL | $10,434,549 | $1,851,470 |
Art Culture And Entertainment Inc Pensacola, FL | $146,996 | $1,084,283 |
I Love Music Tour Inc Jacksonville, FL | -$30,381 | $604,942 |
Nasyonbonsamariten Hollywood, FL | $12,299 | $594,257 |
Grsp Foundation Savannah, GA | $15,605,177 | $1,060,324 |
Thomas Dubois Hormel Foundation Inc Fort Lauderdale, FL | $7,512,533 | $223,029 |
Friends With Benefits Fund Augusta, GA | $3,687 | $377,157 |