Iam Music Inc
- Assets
- $29.3k
- Revenue
- $240.0k
- Investments
- $0.0
- Employees
- 16
- Location
- Durango, CO
- Founding
- 12/2014
- Data as of
- 12/2020
- EIN
- 46-4504205
Organization Overview
Iam Music Inc is located in Durango, CO. The organization was established in 2014. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2020, Iam Music Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iam Music 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 12/2020, Iam Music Inc generated $240.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $205.2k during the year ending 12/2020. While expenses have increased by 8.3% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT AND EXECUTION OF EDUCATIONAL MUSICAL PROGRAMS FOR YOUTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT AND EXECUTION OF EDCATIONAL MUSICAL PROGRAMS FOR OVER 300 CHILDREN. MUSICAL EDUCATION IS PROVIDED TO CHILDREN AT 5 SCHOOL THAT OFFER LIMITED MUSIC PROGRAMS. PRIVATE LESSONS AND INSTRUMENT RENTALS ARE GIVEN AT A GREATLY REDUCED PRICE.
HOLDING FESTIVALS TO RAISE MONEY AND PROMOTE MUSCIAL EDUCATION IN THE COMMUNITY.
DEVELOPMENT AND EXECUTION OF EDCATIONAL MUSICAL PROGRAMS FOR OVER 300 CHILDREN. MUSICAL EDUCATION IS PROVIDED TO CHILDREN AT 5 SCHOOL THAT OFFER LIMITED MUSIC PROGRAMS. PRIVATE LESSONS AND INSTRUMENT RENTALS ARE GIVEN AT A GREATLY REDUCED PRICE.
HOLDING FESTIVALS TO RAISE MONEY AND PROMOTE MUSCIAL EDUCATION IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jesse Ogle Vice Preside | OfficerTrustee | 40 | $37,984 |
Amanda Barnes Treasurer | OfficerTrustee | $0 | |
Jessica Obleton President | OfficerTrustee | $0 | |
Liz Mora Treasurer | OfficerTrustee | $0 | |
Dusty Grannis Director | Trustee | $0 | |
Mike Ryan Director | Trustee | $0 |
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 | $101,784 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $101,784 |
| Total Program Service Revenue | $89,075 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $25,807 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $239,956 |
| 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. | $37,984 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $85,223 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,467 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $500 |
| Fees for services: Accounting | $5,578 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,696 |
| Advertising and promotion | $2,768 |
| Office expenses | $2,846 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,358 |
| Travel | $58 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $366 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $91 |
| Insurance | $1,317 |
| All other expenses | $7,136 |
| Total functional expenses | $205,188 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,306 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $950 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,256 |
| Accounts payable and accrued expenses | $594 |
| 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 | $0 |
| Total liabilities | $594 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $28,662 |
| Total liabilities and net assets/fund balances | $29,256 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Iam Music Inc has recieved totaling $39,064.
| Awarding Organization | Amount |
|---|---|
Community Foundation Serving Southwest Colorado Durango, CO | | $22,500 |
Dancing Tides Foundation Inc Garden City, NY PURPOSE: CHARITABLE CONTRIBUTION | $5,000 |
El Pomar Foundation Colorado Springs, CO PURPOSE: 2021 MUSIC FEST AND CONCERT SERIES | $5,000 |
Sheila Fortune Foundation Boulder, CO PURPOSE: ART PROGRAM SUPPORT | $4,000 |
El Pomar Foundation Colorado Springs, CO PURPOSE: YOUTH SCHOLARSHIP PROGRAM | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $64 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jazz At Aspen-Snowmass Aspen, CO | $5,325,438 | $11,239,996 |
Grand Teton Music Festival Inc Jackson, WY | $21,966,338 | $8,778,128 |
Colorado Music Festival Boulder, CO | $2,219,616 | $3,012,496 |
Amp The Cause Denver, CO | $134,793 | $2,222,228 |
Strings Music Festival Steamboat Springs, CO | $9,630,765 | $2,301,723 |
Swallow Hill Music Association Denver, CO | $6,215,784 | $6,402,960 |
Youth On Record Denver, CO | $1,879,684 | $1,486,408 |
Yfc Inc Omaha, NE | $650,534 | $1,235,325 |
Parlando Incorporated Boulder, CO | $1,273,068 | $2,033,961 |
Santa Fe Concert Association Santa Fe, NM | $379,174 | $1,132,324 |
Piano Technicians Guild Incorporated Kansas City, KS | $3,439,012 | $1,235,937 |
The Vail Jazz Foundation Inc Vail, CO | $1,001,642 | $1,276,123 |