Nantucket Community Music Center
- Assets
- $465.5k
- Revenue
- $566.7k
- Investments
- $0.0
- Employees
- 28
- Location
- Nantucket, MA
- Founding
- 03/1978
- Data as of
- 06/2021
- EIN
- 51-0194502
Organization Overview
Nantucket Community Music Center is located in Nantucket, MA. The organization was established in 1978. 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 06/2021, Nantucket Community Music Center employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nantucket Community Music Center 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 06/2021, Nantucket Community Music Center generated $566.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $492.6k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENRICH THE CULTURAL LIFE OF THE ISLAND BY FOSTERING AND SUPPORTING MUSIC EDUCATION AND PERFORMANCE OPPORTUNITIES FOR YOUNG PEOPLE AND ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRIVATE AND GROUP MUSIC LESSONS FOR ADULTS AND CHILDREN IN THE NANTUCKET COMMUNITY, PERFORMANCE OPPORTUNITIES FOR STUDENTS, FACULTY, AND ISLAND MUSICIANS; MUSICAL GROUPS, ENSEMBLES, AND VOCAL CHOIRS FOR COMMUNITY MEMBERS. APPROXIMATELY 500 PARTICIPANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Wagner Executive Director | OfficerTrustee | 40 | $17,308 |
Rich Jaycobs President | OfficerTrustee | 1 | $0 |
Bess Clarke Vice President | OfficerTrustee | 1 | $0 |
Karen Palmer Treasurer | OfficerTrustee | 1 | $0 |
Margot T Young Secretary | OfficerTrustee | 1 | $0 |
Eleanor Antonietti Trustee | Trustee | 1 | $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 | $337,427 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $337,427 |
| Total Program Service Revenue | $192,558 |
| Investment income | $8,417 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$783 |
| Net Income from Fundraising Events | $29,052 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $566,671 |
| 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. | $51,924 |
| Compensation of current officers, directors, key employees. | $51,924 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $240,755 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,236 |
| Payroll taxes | $23,747 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,568 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,068 |
| Fees for services: Other | $16,500 |
| Advertising and promotion | $10,154 |
| Office expenses | $10,443 |
| Information technology | $39,182 |
| Royalties | $0 |
| Occupancy | $13,068 |
| Travel | $845 |
| 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 | $1,194 |
| Insurance | $8,876 |
| All other expenses | $20,894 |
| Total functional expenses | $492,602 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $38,670 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,329 |
| 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 | $1,650 |
| Net Land, buildings, and equipment | $14,369 |
| Investments—publicly traded securities | $385,477 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $465,495 |
| Accounts payable and accrued expenses | $9,961 |
| Grants payable | $0 |
| Deferred revenue | $7,815 |
| 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 | $60,102 |
| Other liabilities | $0 |
| Total liabilities | $77,878 |
| Net assets without donor restrictions | $329,480 |
| Net assets with donor restrictions | $58,137 |
| 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 | $465,495 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Nantucket Community Music Center has recieved totaling $120,499.
| Awarding Organization | Amount |
|---|---|
Community Foundation For Nantucket Nantucket, MA PURPOSE: ARTS, CULTURE & HUMA | $30,896 |
Tupancy-Harris Foundation Of 1986 Boston, MA PURPOSE: GENERAL PURPOSES | $25,000 |
Nantucket Golf Club Foundation Inc Siasconset, MA PURPOSE: SUPPORT | $25,000 |
The Schmidt Family Foundation Palo Alto, CA PURPOSE: NANTUCKET: ENCOURAGING RESILIENCE AND INNOVATION | $12,500 |
Hollyjolly Foundation Inc Palm Beach, FL PURPOSE: GENERAL USE | $10,010 |
M S Worthington Foundation Nantucket, MA PURPOSE: FINANCIAL AID FOR PRIVATE MUSIC INSTRUCTION FOR STUDENTS. | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jazz At Lincoln Center Inc New York, NY | $222,896,771 | $27,240,751 |
Handel And Haydn Society Boston, MA | $29,038,335 | $22,868,295 |
Groton Hill Music Inc Groton, MA | $210,830,113 | $41,196,688 |
Newport Festivals Foundation Inc Essex, MA | $20,080,911 | $11,132,304 |
Whyhunger Inc New York, NY | $5,607,325 | $7,869,621 |
Caramoor Center For Music & The Arts Inc Katonah, NY | $49,439,168 | $6,140,543 |
Save The Music Foundation New York, NY | $5,156,662 | $8,206,045 |
Rockport Music Inc Rockport, MA | $31,791,427 | $3,720,672 |
American Friends Of Les Arts Florissants Inc New York, NY | $1,107,997 | $2,546,808 |
Chicken & Egg Pictures Inc Brooklyn, NY | $9,525,742 | $4,390,371 |
Young Concert Artists Inc New York, NY | $10,777,916 | $2,607,839 |
New Music Usa Inc New York, NY | $21,074,524 | $3,287,635 |