Tom Tom Foundation
- Assets
- $580.5k
- Revenue
- $554.5k
- Investments
- $355.5k
- Employees
- 1
- Location
- Charlottesville, VA
- Founding
- 03/2014
- Data as of
- 06/2024
- EIN
- 46-2048771
Organization Overview
Tom Tom Foundation is located in Charlottesville, VA. The organization was established in 2014. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, 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. Tom Tom Foundation 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 06/2024, Tom Tom Foundation generated $554.5k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $615.4k during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO CELEBRATE AND EMPOWER THE FOUNDERS OF CREATIVE, CIVIC, AND ENTREPRENEURIAL PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TOM TOM FOUNDATION IS A NONPROFIT ORGANIZATION IN CHARLOTTESVILLE VA. OUR MISSION IS TO BRING TOGETHER DIVERSE COMMUNITIES AND SPARK INSPIRATION FOR A BRIGHTER FUTURE. STARTED IN 2012, OUR ANNUAL TOM TOM FESTIVAL NOW ATTRACTS 25,000+ ATTENDEES, AND IS CO-CREATED WITH HUNDREDS OF LOCAL PARTNERS WHO TELL THE STORY OF OUR COMMUNITY'S FUTURE THROUGH MUSIC, ART, AND IDEAS EACH APRIL. THROUGHOUT THE YEAR, WE CHAMPION CREATIVE EXPRESSION AND INNOVATION IN OUR HOMETOWN THROUGH DANCE GATHERINGS, TALKS, AND LEADERSHIP CONVENINGS THAT SERVE ANOTHER 3,000+ CITIZEN LEADERS. THE TOM TOM FOUNDATION RECEIVED $222,300 IN NON-CASH DONATIONS IN THE FORM OF SERVICES, DISCOUNTS, AND SPACE USE FROM BUSINESS, EDUCATIONAL, AND GOVERNMENT INSTITUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Beyer Trustee | Trustee | 1 | $0 |
John E Harding Trustee | Trustee | 1 | $0 |
Blake Hurt President | Trustee | 1 | $0 |
Peter Caramanis Trustee | Trustee | 1 | $0 |
Paul Beyer Executive Director | Officer | 40 | $80,630 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $42,815 |
| All other contributions, gifts, grants, and similar amounts not included above | $360,511 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $403,326 |
| Total Program Service Revenue | $144,937 |
| Investment income | $761 |
| 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 | $554,521 |
| 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. | $80,630 |
| Compensation of current officers, directors, key employees. | $16,126 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $203,131 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,956 |
| Payroll taxes | $6,218 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,243 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $52,249 |
| Office expenses | $5,881 |
| Information technology | $7,455 |
| Royalties | $0 |
| Occupancy | $27,758 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,880 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $179 |
| Insurance | $3,751 |
| All other expenses | $0 |
| Total functional expenses | $615,429 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,232 |
| Savings and temporary cash investments | $58,632 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $114,315 |
| 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 | $7,500 |
| Net Land, buildings, and equipment | $5,351 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $355,497 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $580,527 |
| Accounts payable and accrued expenses | $5,665 |
| 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 | $452,703 |
| Total liabilities | $458,368 |
| Net assets without donor restrictions | $122,159 |
| 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 | $580,527 |