Cleveland Music Foundation Inc
- Assets
- $17.0m
- Revenue
- $2.0m
- Investments
- $561.9k
- Employees
- 13
- Location
- Cleveland, MS
- Founding
- 07/2012
- Data as of
- 12/2023
- EIN
- 45-3186945
Organization Overview
Cleveland Music Foundation Inc is located in Cleveland, MS. The organization was established in 2012. 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 12/2023, Cleveland Music Foundation Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cleveland Music 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 12/2023, Cleveland Music Foundation Inc generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (15.0%) each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. 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
TO EDUCATE AND INSPIRE THROUGH THE UNIVERSAL LANGUAGE OF MUSIC. TO PROVIDE UNIQUE EXPERIENCES FOR ALL, USING MUSIC AS A GATEWAY TO LEARNING.GRAMMY MUSEUM MISSISSIPPI IS AN EXCITING AND INTERACTIVE CELEBRATION OF THE POWER OF MUSIC OCCUPYING A VIBRANT SPACE IN CLEVELAND, MISSISSIPPI. CUTTING EDGE EXHIBITS, INTERACTIVE EXPERIENCES AND FILMS PROVIDE A ONE-OF-A-KIND VISITOR EXPERIENCE ENGAGING, EDUCATIONAL, CELEBRATORY, AND INSPIRATIONAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRAMMY MUSEUM MISSISSIPPI OPERATES PROGRAMS AND RELATED ACTIVITIES TO ACKNOWLEDGE AND HONOR A DIVERSE GROUP OF MUSICIANS AND OTHER PERFORMING ARTISTS FOR THEIR CONTRIBUTIONS TO AMERICAN MUSIC. THE MUSEUM ALSO SHARES MUSIC HISTORY THROUGH EXHIBITS BY CURATING AND PRESERVING MUSIC HISTORY WITH INTERVIEWS, ARTIFACTS, AND MEMORABILIA RELATED TO THE MUSICIANS LIFE, CAREER, AND LEGACY. THE MUSEUM HOSTS PUBLIC PROGRAMS, PANEL DISCUSSIONS, AND COMMUNITY EVENTS TO EDUCATE VISITORS FROM THE UNITED STATES AND INTERNATIONAL VISITORS ON MISSISSIPPIS MUSIC LEGACY.
THE MUSEUM PROVIDES MUSIC EDUCATION FOR STUDENTS INSIDE THE MUSEUM WITH MUSEUM TOURS, EDUCATION WORKSHOPS, SUMMER CAMPS, INSTRUMENT LESSONS, SENSORY-FRIENDLY PROGRAMS, FAMILY DAY ACTIVITIES, AND EDUCATION OUTREACH WORKSHOPS IN SCHOOLS. GRAMMY MUSEUM MISSISSIPPI SEEKS TO EDUCATE AND INSPIRE ALL MUSEUM VISITORS AND MEMBERS AS TO THE ENDURING QUALITIES AND CULTURAL SIGNIFICANCE OF POPULAR AND CLASSICAL MUSIC. BY IMPLEMENTING A VARIETY OF INNOVATIVE EDUCATIONAL STRATEGIES; BY INCORPORATING THE ADVICE AND NEEDS OF SCHOLASTIC TEACHERS, LOCALLY, REGIONALLY, AND NATIONALLY; GRAMMY MUSEUM MISSISSIPPI OFFERS THE MOST DYNAMIC AND EXCITING EDUCATIONAL PROGRAMS AVAILABLE FROM MUSIC MUSEUMS. THROUGH THE EXHIBITS, EDUCATION PROGRAMMING, AND EXCITING EVENTS WITH MUSICIANS AND ENTERTAINMENT INDUSTRY PROFESSIONALS, THE MUSEUM CAN BRING THE POWER OF MUSIC TO THE COMMUNITY, STATE, AND REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Havens Executive Dir. | Trustee | 40 | $129,304 |
Chace Holland Controller | Trustee | 40 | $72,540 |
Jack Mcwilliams Foundation Mgr. | Trustee | 40 | $71,346 |
Becky Nowell President | OfficerTrustee | 5 | $0 |
Mary Mckay Griffith Director | Trustee | 1 | $0 |
Kamel King Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $164,904 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $198,999 |
| All other contributions, gifts, grants, and similar amounts not included above | $828,240 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,192,143 |
| Total Program Service Revenue | $556,800 |
| Investment income | $39,129 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $168,761 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,956,833 |
| 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. | $273,190 |
| Compensation of current officers, directors, key employees. | $72,540 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $325,529 |
| 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 | $3,737 |
| Fees for services: Other | $0 |
| Advertising and promotion | $40,289 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $34,227 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $19,282 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $514,321 |
| Insurance | $59,476 |
| All other expenses | $158,667 |
| Total functional expenses | $1,899,410 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,465,563 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $47,191 |
| 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 | $23,167 |
| Prepaid expenses and deferred charges | $8,949 |
| Net Land, buildings, and equipment | $14,929,488 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $561,943 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,036,301 |
| Accounts payable and accrued expenses | $242,793 |
| 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 | $677,237 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $920,030 |
| Net assets without donor restrictions | $15,021,662 |
| Net assets with donor restrictions | $1,094,609 |
| 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 | $17,036,301 |