Alliance Of Artists And Recording Companies Inc
- Assets
- $0.0
- Revenue
- $461.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Washington, DC
- Founding
- 11/1995
- Data as of
- 03/2022
- EIN
- 52-1857033
Organization Overview
Alliance Of Artists And Recording Companies Inc is located in Washington, DC. The organization was established in 1995. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 03/2022, Alliance Of Artists And Recording Companies Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alliance Of Artists And Recording Companies Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 03/2022, Alliance Of Artists And Recording Companies Inc generated $461.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.7%) each year. All expenses for the organization totaled $461.2k during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (10.6%) per year over the past 7 years. 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
SEE PART III OF FORM 990.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AARC IS THE NON-PROFIT U.S. ROYALTY COLLECTIVE PROTECTING THE WORLDWIDE HOMETAPING (PRIVATE COPY), RENTAL, AND LENDING RIGHTS FOR FEATURED RECORDING ARTISTS AND SOUND RECORDING COPYRIGHT OWNERS (RECORD LABELS). ALTHOUGH A U.S. ORGANIZATION, AARC REPRESENTS FEATURED ARTISTS AND COPYRIGHT OWNERS RESIDING ALL OVER THE WORLD.THE OPERATIONS OF AARC WERE WOUND DOWN, WITH THE REMAINING ASSETS TRANSFERRED TO SOUNDEXCHANGE. SEE SCHEDULE N FOR FURTHER INFORMATION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda R Bocchi Executive Director (thru 10/15/20) | 40 | $258,530 | |
Michael Stern Dir. Of Operations & Info. | 40 | $180,835 | |
Timothy Dadson Chairman | OfficerTrustee | 0.05 | $0 |
Michael Levi Treasurer | OfficerTrustee | 0.05 | $0 |
Ryan Lehning Secretary | OfficerTrustee | 0.05 | $0 |
Luis Bonilla Board Member | Trustee | 0.05 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Axinn Legal Services | 3/30/21 | $116,080 |
Fox Rothschild Llp Legal Services | 3/30/21 | $142,993 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $461,336 |
| Investment income | $331 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$515 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $461,152 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $20,519 |
| Other salaries and wages | $110,596 |
| Pension plan accruals and contributions | $9,959 |
| Other employee benefits | -$1,311 |
| Payroll taxes | $15,570 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,458 |
| Fees for services: Accounting | $48,049 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $111,932 |
| Advertising and promotion | $0 |
| Office expenses | $728 |
| Information technology | $4,128 |
| Royalties | $0 |
| Occupancy | -$231 |
| Travel | $1,801 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,189 |
| All other expenses | $3,241 |
| Total functional expenses | $461,152 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $0 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Glenstone Foundation Potomac, MD | $0 | $596,667,510 |
Textile Rental Services Association Of America Inc Alexandria, VA | $12,660,390 | $5,781,606 |
Virginia Museum Of Contemporary Art Virginia Beach, VA | $2,164,198 | $3,254,466 |
Life Pieces To Masterpieces Washington, DC | $694,672 | $1,837,950 |
Friends Of Southwest Virginia Abingdon, VA | $1,122,100 | $1,695,532 |
Virginia Center For The Creative Arts Amherst, VA | $8,632,012 | $1,792,927 |
Baltimore Clayworks Inc Baltimore, MD | $2,982,391 | $1,163,286 |
The Delaplaine Arts Center Inc Frederick, MD | $11,590,402 | $1,218,901 |
Printing & Graphics Association Midatlantic Inc Columbia, MD | $1,603,775 | $720,184 |
Printing United Foundation Fairfax, VA | $8,723,851 | $1,119,782 |
Transformer Inc Washington, DC | $77,625 | $584,830 |
Woodworking Machinery Manufacturers Of America Forest Hill, MD | $4,948,540 | $248,411 |