National Association Of Music Merchants Inc
- Assets
- $39.5m
- Revenue
- $16.8m
- Investments
- $0.0
- Employees
- 89
- Location
- Carlsbad, CA
- Founding
- 08/1945
- Data as of
- 09/2023
- EIN
- 36-2026009
Organization Overview
National Association Of Music Merchants Inc is located in Carlsbad, CA. The organization was established in 1945. According to its NTEE Classification (A03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, National Association Of Music Merchants Inc employed 89 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Association Of Music Merchants Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2023, National Association Of Music Merchants Inc generated $16.8m 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 (4.6%) each year. All expenses for the organization totaled $17.5m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
NAMM'S MISSION IS TO STRENGTHEN THE MUSIC PRODUCTS INDUSTRY AND PROMOTE THE PLEASURES AND BENEFITS OF MAKING MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION FUNDS MARKET DEVELOPMENT PROGRAMS THAT BENEFIT THE MUSIC PRODUCTS INDUSTRY WITH THE OVERALL OBJECTIVE OF INCREASING THE NUMBER OF ACTIVE MUSIC MAKERS OF ALL AGES. THIS OBJECTIVE IS ACCOMPLISHED BY FUNDING MANY PROGRAMS IN MUSIC EDUCATION AND RESEARCH PROJECTS THAT EMPHASIZE THE MANY BENEFITS THAT MUSIC CAN PROVIDE.
THE ASSOCIATION CONDUCTS ONE TRADE SHOW AND CONVENTION THAT WAS HELD TO OFFER MUSIC DEALERS THE OPPORTUNITY TO VIEW NEW PRODUCTS AND TECHNIQUES FOR IMPROVING THEIR BUSINESSES. SEMINARS AND EDUCATIONAL SESSIONS ARE HELD IN CONNECTION WITH THIS CONVENTION.
THE ASSOCIATION HAS A PROFESSIONAL DEVELOPMENT PROGRAM TO PROVIDE MUSIC DEALERS AND MANUFACTURER'S REPRESENTATIVES WITH THE NECESSARY TRAINING TO IMPROVE THEIR BUSINESS AND PROVIDE THEIR STAFF WITH ADDITIONAL SALES TRAINING TECHNIQUES, MANAGEMENT TRAINING AND OTHER EDUCATIONAL OPPORTUNITIES. THE ASSOCIATION ALSO PROVIDES ITS MEMBERS WITH VITAL INFORMATION REGARDING THE MUSIC PRODUCTS INDUSTRY INCLUDING NEWSLETTERS AND OTHER PUBLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Lamond President And CEO | 40 | $625,822 | |
John Mlynczak President & CEO | Officer | 40 | $460,443 |
Mary Luehrsen Dir Of Pub Affairs | 40 | $225,399 | |
Daniel Moylan Dir Tr Show Sales | 40 | $186,575 | |
Derek Murphy CFO | 40 | $173,853 | |
Daniel Kessler Director Of It | 40 | $179,230 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Greg Hereman Productions Consulting | 9/29/23 | $124,213 |
Nelson Mullins Riley & Scarborough Llp Attorney | 9/29/23 | $325,000 |
Lockton Insurance Brokers Insurance Brokers | 9/29/23 | $265,668 |
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 | $13,376,457 |
| Investment income | $3,466,467 |
| 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 | $16,842,924 |
| 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. | $483,943 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,495,440 |
| Pension plan accruals and contributions | $151,704 |
| Other employee benefits | $975,464 |
| Payroll taxes | $497,829 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $152,964 |
| Fees for services: Accounting | $49,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $513,518 |
| Advertising and promotion | $352,879 |
| Office expenses | $16,255 |
| Information technology | $313,955 |
| Royalties | $0 |
| Occupancy | $399,717 |
| Travel | $88,489 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,894 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $331,402 |
| Insurance | $269,947 |
| All other expenses | $731,685 |
| Total functional expenses | $17,462,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $9,159,111 |
| 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 | $1,327,031 |
| Net Land, buildings, and equipment | $3,840,589 |
| Investments—publicly traded securities | $25,212,689 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2 |
| Total assets | $39,539,422 |
| Accounts payable and accrued expenses | $3,720,723 |
| 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 | $5,631,954 |
| Total liabilities | $9,352,677 |
| Net assets without donor restrictions | $30,186,745 |
| 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 | $39,539,422 |