Grammy Museum Foundation Inc
- Assets
- $19.7m
- Revenue
- $9.8m
- Investments
- $0.0
- Employees
- 52
- Location
- Los Angeles, CA
- Founding
- 02/2015
- Data as of
- 07/2021
- EIN
- 26-1447714
Organization Overview
Grammy Museum Foundation Inc is located in Los Angeles, CA. The organization was established in 2015. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 07/2022, Grammy Museum Foundation Inc employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grammy Museum Foundation 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 07/2021, Grammy Museum Foundation Inc generated $9.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $11.7m during the year ending 07/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Grammy Museum Foundation Inc has awarded 112 individual grants totaling $1,314,834. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE GRAMMY MUSEUM CELEBRATES AND EXPLORES MUSIC FROM YESTERDAY AND TODAY TO INSPIRE THE MUSIC OF TOMORROW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL ADMISSIONS: MAINTAINING AND OPERATING THE GRAMMY MUSEUM TO PROVIDE A ONE-OF-A-KIND EXPERIENCE FOR THE PUBLIC THAT PROMOTES THE CREATIVE PROCESS, THE HISTORY OF MUSIC AND THE GRAMMY AWARDS, AS WELL AS CULTURAL UNDERSTANDING.
CURATORIAL SERVICES: SERVICES PROVIDED ON SETTING UP AND MAINTAINING TRAVELING EXHIBITS, WHICH WERE CONSTRUCTED FOR THE GRAMMY MUSEUM DURING THE YEAR OR A PRIOR PERIOD, AND THEN TRANSPORTED TO AND SET-UP TEMPORARILY IN ANOTHER MUSEUM-TYPE LOCATION. SERVICES ALSO PROVIDED IN ASSISTING THIRD PARTIES IN PROMOTING MUSIC EDUCATION AND DEVELOPMENT OUTSIDE THE GRAMMY MUSEUM'S LOCATION IN LOS ANGELES, CALIFORNIA.
PUBLIC PROGRAMS AND EDUCATION: THE GRAMMY MUSEUM HOSTS A WIDE RANGE OF PUBLIC PROGRAMS IN THE MUSEUM'S SOUND STAGE THEATRE AND THROUGHOUT THE LA LIVE CAMPUS, WHERE THE GRAMMY MUSEUM IS LOCATED AS WELL AS VIRTUAL PROGRAMS. PROGRAMS INCLUDE ARTISTS INTERVIEWS, LIVE PERFORMANCES, FILM SERIES, LECTURES, ARTIST-IN-RESIDENCE PROGRAMS, CONTINUING EDUCATION CLASSES, TOWN HALL MEETINGS, SPECIAL CONCERT SERIES, RECORD LABEL SHOWCASES, AND CURATORIAL-RELATED PROGRAMS. ALL PROGRAMS ARE RECORDED FOR ARCHIVAL PURPOSES TO SHARE WITH THE PUBLIC. THE GOAL OF THE GRAMMY MUSEUM'S EDUCATION PROGRAM IS TO EDUCATE AND INSPIRE, THROUGH EXPOSURE TO ALL MUSIC AND THE CREATIVE PROCESS, ALL VISITORS BUT MOST SPECIFICALLY SCHOOL GROUPS AND FAMILIES. THE PROGRAMS INCLUDE TEACHER WORKSHOPS, MUSEUM TOURS, SEMINARS, SYMPOSIA, MASTER MUSIC CLASSES, MENTORING PROGRAMS, MUSIC FORUMS, SCHOOL OUTREACH AND MUSICAL DEMONSTRATIONS, CAMPS, AND SATURDAY FAMILY PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Burk Vice Chair | OfficerTrustee | 0.2 | $0 |
Michal Katz Treasurer / Secretary | OfficerTrustee | 0.2 | $0 |
Tim Bucher Chair | OfficerTrustee | 0.2 | $0 |
Andra Liemandt Board Member | Trustee | 0.2 | $0 |
Branden Chapman Board Member | Trustee | 0.2 | $0 |
Brenda Robinson Board Member | Trustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ipr Services Exhibit Design And Build | 7/30/20 | $422,791 |
Deloitte & Touche Llp Accounting Services | 7/30/20 | $158,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,254,991 |
| Investment income | $226,137 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$46,638 |
| Net Gain/Loss on Asset Sales | $314,175 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $26,048 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,757,476 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $26,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $40,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,875,207 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,995,767 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $75,549 |
| Fees for services: Accounting | $105,322 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $331,398 |
| Advertising and promotion | $218,414 |
| Office expenses | $380,387 |
| Information technology | $387,452 |
| Royalties | $0 |
| Occupancy | $2,038,079 |
| Travel | $27,677 |
| 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 | $246,802 |
| Depreciation, depletion, and amortization | $1,143,023 |
| Insurance | $195,411 |
| All other expenses | $0 |
| Total functional expenses | $11,707,035 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,267,862 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $378,128 |
| Accounts receivable, net | $946,643 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $41,717 |
| Prepaid expenses and deferred charges | $101,952 |
| Investments—publicly traded securities | $4,311,059 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,094,894 |
| Total assets | $19,726,049 |
| Accounts payable and accrued expenses | $106,402 |
| Grants payable | $0 |
| Deferred revenue | $2,240,979 |
| 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 | $7,476,134 |
| Total liabilities | $9,823,515 |
| 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 | $9,902,534 |
Grants Awarded
Over the last fiscal year, Grammy Museum Foundation Inc has awarded $317,039 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
APOLLO THEATER FOUNDATION PURPOSE: MUSIC PRESERVATION IMPLEMENTATION GRANT | $20,000 |
ARHOOLIE FOUNDATION PURPOSE: MUSIC PRESERVATION IMPLEMENTATION GRANT | $20,000 |
UNIVERSITY HOSPITALS HEALTH SYSTEM INC PURPOSE: SCIENTIFIC RESEARCH GRANT | $20,000 |
UNIVERSITY OF SOUTHERN CALIFORNIA PURPOSE: SCIENTIFIC RESEARCH GRANT | $20,000 |
UNIVERSITY OF MIAMI PURPOSE: SCIENTIFIC RESEARCH GRANT | $19,973 |
NEWARK PUBLIC RADIO INC PURPOSE: MUSIC PRESERVATION IMPLEMENTATION GRANT | $15,000 |