Miami Music Festival Inc
- Assets
- $42.8k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 3
- Location
- Miami Beach, FL
- Founding
- 12/2014
- Data as of
- 08/2022
- EIN
- 47-1624928
Organization Overview
Miami Music Festival Inc is located in Miami Beach, FL. The organization was established in 2014. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 08/2022, Miami Music Festival Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Miami Music Festival 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 08/2022, Miami Music Festival Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $1.0m during the year ending 08/2022. While expenses have increased by 1.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE MIAMI MUSIC FESTIVAL IS TO PROVIDE AFFORDABLE, WORLD-CLASS MUSICAL INSTRUCTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MIAMI MUSIC FESTIVAL SINGULAR PROGRAM SERVICES IS TO PROVIDE AFFORDABLE, WORLD-CLASS MUSICAL INSTRUCTIONS AND GROUND-BREAKING PERFORAMNCE EXPERIENCE TO YOUNG ARTIST AND SOUTH FLORIDA REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael C Rossi Executive Dir. | OfficerTrustee | 40 | $106,422 |
Leticia Rivera Director, Vice | OfficerTrustee | 40 | $0 |
Sevag Balian Board Chair | Trustee | 0 | $0 |
Dr Mark Hernandez Treasurer | OfficerTrustee | 0 | $0 |
Andreea Baclea Trustee | Trustee | 0 | $0 |
Angela Birdman Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $447,794 |
| All other contributions, gifts, grants, and similar amounts not included above | $218,402 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $666,196 |
| Total Program Service Revenue | $372,762 |
| Investment income | $3 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $252 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,039,213 |
| 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. | $106,442 |
| Compensation of current officers, directors, key employees. | $53,221 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $50,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,006 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,326 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,800 |
| Office expenses | $21,043 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $162,546 |
| Travel | $37,713 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,737 |
| Insurance | $2,756 |
| All other expenses | $107,875 |
| Total functional expenses | $1,047,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,113 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100 |
| 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 | $3,571 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $42,784 |
| Accounts payable and accrued expenses | $0 |
| 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 | $14,167 |
| Total liabilities | $14,167 |
| Net assets without donor restrictions | $28,617 |
| 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 | $42,784 |