Ascap Foundation
- Assets
- $10.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 01/1976
- Data as of
- 12/2022
- EIN
- 51-0181769
Organization Overview
Ascap Foundation is located in New York, NY. The organization was established in 1976. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, 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. Ascap 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 12/2022, Ascap Foundation generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.5%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Ascap Foundation has awarded 25 individual grants totaling $286,449. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ASCAP FOUNDATION IS DEDICATED TO SUPPORTING AMERICAN MUSIC CREATORS AND ENCOURAGING THEIR DEVELOPMENT THROUGH MUSIC EDUCATION AND TALENT DEVELOPMENT PROGRAMS INCLUDING SONGWRITING WORKSHOPS, SCHOLARSHIPS, AWARDS, COMMUNITY OUTREACH AND GRANTS TO OTHER 501(C)(3) ORGANIZATIONS FOR MUSIC EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS, FELLOWSHIPS, AWARDS AND COMPOSER PROGRAMS: THE ASCAP FOUNDATION SCHOLARSHIP PROGRAMS SEEK TO ENSURE THAT OPPORTUNITIES FOR THE STUDY OF MUSIC AND INSTRUMENTS, SONGWRITING, MUSIC COMPOSITION, THE BUSINESS OF MUSIC AND RELATED AREAS ARE AVAILABLE TO STUDENTS AT ALL LEVELS BY PROVIDING SCHOLARSHIPS AND FELLOWSHIPS TO 54 RECIPIENTS RANGING FROM $1,000 TO $10,000. THE ASCAP FOUNDATION PROVIDES AWARDS TO EMERGING COMPOSERS AND SONGWRITERS CONSISTING OF CASH AWARDS TO 103 RECIPIENTS OF COMPOSER AND / OR LYRICIST PROGRAMS. THESE AWARDS RANGE FROM $125 TO $10,000.
OTHER PROGRAM SERVICES INCLUDE 3 HUMANITARIAN PROGRAMS THAT INCLUDES MUSIC THERAPY PROGRAMS FOR VETERANS WITH PTSD; APHASIA PATIENTS; STUDENTS ON THE AUTISM SPECTRUM AND OTHER PROGRAM SUPPORT EXPENSES.
MUSIC EDUCATION AND COMMUNITY OUTREACH: THE ASCAP FOUNDATION IS DEDICATED TO NURTURING THE MUSIC TALENT OF TOMORROW BY DEVELOPING AND SUPPORTING EDUCATIONAL PROGRAMS THAT PROVIDE EFFECTIVE LEARNING OPPORTUNITIES CONSISTENT WITH OUR MISSION TO STUDENTS OF ALL AGES. THE ASCAP FOUNDATION HAS PROVIDED FUNDING TO SPONSOR 16 MUSIC EDUCATION AND / OR MUSIC DEVELOPMENT PROGRAMS THROUGHOUT THE YEAR WITH THE GOAL OF ENHANCING AND PROMOTING MUSIC EDUCATION AND PROVIDING THE COMMUNITY WITH ACCESS TO MUSIC AND ITS HISTORY. THESE 16 PROGRAMS INCLUDED 10 THAT RECEIVED $5,000 OR MORE IN FUNDING AND 3 PROGRAMS THAT RECEIVED LESS THAN $5,000.
TALENT DEVELOPMENT: THE ASCAP FOUNDATION TALENT DEVELOPMENT PROGRAMS PROVIDE AID AND ENCOURAGEMENT TO MUSIC CREATORS NATIONALLY WHO ARE IN VARIOUS STAGES OF THEIR CAREERS INCLUDING, WORKSHOPS (9); COMMISSIONS AND / OR COMMISSIONING PROGRAMS (3); AND SPONSORSHIP OF TALENT DEVELOPMENT PROGRAMS, (12). BY PROVIDING PROFESSIONAL OPPORTUNITIES TO EMERGING COMPOSERS, LYRICISTS AND SONGWRITERS, THE ASCAP FOUNDATION SUPPORTS THEIR CAREERS AND PROMOTES THEIR WORKS. SOME OF OUR WORKSHOPS WERE UNABLE TO BE HELD IN 2022 DUE TO IN PERSON PROTOCOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joan Hill Director Of Finance And Administration | Officer | 40 | $0 |
Heather Lynn Sr. Director, Development & Fundraising-3/21/22 | 35 | $0 | |
Paul Williams President | OfficerTrustee | 0.5 | $0 |
Irwin Robinson Vice President | OfficerTrustee | 0.25 | $0 |
Dean Kay Treasurer | OfficerTrustee | 0.25 | $0 |
Charles Bernstein Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $59,065 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,250,923 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,309,988 |
| Total Program Service Revenue | $0 |
| Investment income | $365,651 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $168,015 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $69,994 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,913,648 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $168,006 |
| Grants and other assistance to domestic individuals. | $316,050 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $17,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,211 |
| Fees for services: Other | $60,000 |
| Advertising and promotion | $0 |
| Office expenses | $21,759 |
| Information technology | $16,010 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,670 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,324,923 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,200,968 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,042 |
| 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 | $2,120 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,386,589 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,632,719 |
| Accounts payable and accrued expenses | $62,851 |
| Grants payable | $5,500 |
| Deferred revenue | $500 |
| 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 | $68,851 |
| Net assets without donor restrictions | $3,266,976 |
| Net assets with donor restrictions | $7,296,892 |
| 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 | $10,632,719 |
Grants Awarded
Over the last fiscal year, Ascap Foundation has awarded $95,451 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
NEW ORLEANS ARTS AND CULTURAL HOST COMMITTEE INCLOUIS SATCHMO ARMSTRONG SUMMER JAZZ CAMP PURPOSE: Grant to support summer Jazz camp. | $18,000 |
JAZZMOBILE PURPOSE: Grant to support Saturday Jazz Workshop program | $15,000 |
ALFRED MUSIC PUBLISHING COMPANY PURPOSE: Provide music books and folios to various schools across the country. | $15,000 |
WALLIS ANNENBERG CENTER FOR THE PERFORMING ARTS PURPOSE: Support for the development of the Great American Mousical. | $12,451 |
SONGWRITING WITH INCSONGWRITING WITH SOLDIERS PURPOSE: Grant to support Songwriting with Soldiers songwriting retreat. | $10,000 |
ROSIE'S THEATER KIDS INC PURPOSE: Grant to support Musical Theatre songwriting program. | $9,000 |