Jazz Legacy Foundation Incorporated
- Assets
- $138.2k
- Revenue
- $665.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Portsmouth, VA
- Founding
- 11/2013
- Data as of
- 12/2019
- EIN
- 46-1383048
Organization Overview
Jazz Legacy Foundation Incorporated is located in Portsmouth, VA. The organization was established in 2013. 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. Jazz Legacy Foundation Incorporated 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 12/2019, Jazz Legacy Foundation Incorporated generated $665.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 21.7% each year . All expenses for the organization totaled $616.3k during the year ending 12/2019. While expenses have increased by 15.5% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
CHARITABLE AND EDUCATIONAL - PROVIDE CHARITABLE AND EDUCATIONAL PROGRAMS TO ENCOURAGE, PRESERVE AND PROMOTE THE APPRECIATION AND LOVE OF THE ART OF JAZZ
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUALLY, THE JAZZ LEGACY FOUNDATION SPONSORS A SERIES OF JAZZ EVENTS
JAZZ LEGACY FOUNDATION PROVIDED MUSICAL INSTRUMENTS, SUPPLIES AND
ANNUALLY, THE JAZZ LEGACY FOUNDATION SPONSORS A SERIES OF JAZZ EVENTS
JAZZ LEGACY FOUNDATION PROVIDED MUSICAL INSTRUMENTS, SUPPLIES AND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerilyn Horne Treasurer | OfficerTrustee | 25 | $28,000 |
Alvin E Keels Board Chair | OfficerTrustee | 20 | $11,000 |
Cynthia Melton Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $657,365 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,850 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $665,215 |
| Total Program Service Revenue | $0 |
| Investment income | $8 |
| 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 | $665,223 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,191 |
| Grants and other assistance to domestic individuals. | $400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $39,000 |
| Compensation of current officers, directors, key employees. | $3,900 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25,957 |
| Office expenses | $2,079 |
| Information technology | $26,638 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23,096 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,251 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $431 |
| All other expenses | $49,416 |
| Total functional expenses | $616,329 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $69,424 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,043 |
| 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 | $66,779 |
| 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 | $138,246 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $214,340 |
| 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 | $214,340 |
| Net assets without donor restrictions | -$76,094 |
| 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 | $138,246 |
Grants Awarded
Over the last fiscal year, Jazz Legacy Foundation Incorporated has awarded $12,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
HAMPTON CITY SCH PURPOSE: INSTRUMENT | $2,000 |
HAMPTON CITY SCH PURPOSE: INSTRUMENT | $2,000 |
NORFOLK PUBLIC PURPOSE: INSTRUMENT | $2,000 |
PORTSMOUTH SCH PURPOSE: INSTRUMENT | $2,000 |
PORTSMOUTH SCH PURPOSE: INSTRUMENT | $2,000 |
NORFOLK PUBLIC PURPOSE: INSTRUMENT | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Country Music Association Inc Nashville, TN | $102,178,283 | $43,001,334 |
Capital Concerts Inc Washington, DC | $5,908,234 | $11,646,682 |
Birthplace Of Country Music Alliance Bristol, TN | $15,699,295 | $2,559,665 |
Musicians On Call Inc Nashville, TN | $3,633,934 | $3,486,106 |
Herbie Hancock Institute Of Jazz Washington, DC | $2,606,776 | $2,382,953 |
Opera Lafayette Washington, DC | $934,993 | $1,317,563 |
Dc Jazz Festival Washington, DC | $509,622 | $1,492,287 |
National Association Of Securities Professionals Washington, DC | $381,412 | $1,369,032 |
Garth Newel Music Center Foundation Corp Warm Springs, VA | $11,030,155 | $3,286,449 |
Alliance For Middle East Peace Inc Washington, DC | $1,104,153 | $1,242,168 |
Blues Foundation Inc Memphis, TN | $4,533,935 | $1,249,645 |
Songbirds Foundation Inc Chattanooga, TN | $16,669,845 | $490,877 |