Moravian Music Foundation Inc
- Assets
- $3.6m
- Revenue
- $484.0k
- Investments
- $296.6k
- Employees
- 9
- Location
- Winstonsalem, NC
- Founding
- 10/1959
- Data as of
- 12/2021
- EIN
- 56-0637463
Organization Overview
Moravian Music Foundation Inc is located in Winstonsalem, NC. The organization was established in 1959. 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 12/2021, Moravian Music Foundation Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Moravian Music Foundation 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 12/2021, Moravian Music Foundation Inc generated $484.0k 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 (5.5%) each year. All expenses for the organization totaled $603.8k during the year ending 12/2021. 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
PRESERVING, CELEBRATING AND CULTIVATING THE MUSICAL CULTURE OF MORAVIANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVING: ARCHIVAL CUSTODIANSHIP, MAINTAINING A REFERENCE LIBRARY AND CATALOG.
SHARING: RESEARCH, CONSULTATION, MUSIC LENDING LIBRARY, PUBLICATIONS, AND RECORDING.
CELEBRATING: CONCERTS, LECTURES, PUBLIC PROGRAMS, AND FESTIVAL PROGRAMMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nola Reed Knouse PHD Executive Di | Officer | 40 | $80,357 |
G Randall Gibbs President | OfficerTrustee | 1 | $0 |
Henry Naisby Vice Preside | OfficerTrustee | 1 | $0 |
Barbara Howard Vice Preside | OfficerTrustee | 1 | $0 |
Rev Matthew Allen Secretary | OfficerTrustee | 1 | $0 |
Amanda Moody-Schumpert Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $69,008 |
| All other contributions, gifts, grants, and similar amounts not included above | $277,544 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $346,552 |
| Total Program Service Revenue | $10,217 |
| Investment income | $102,543 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $81 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,495 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $484,004 |
| 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. | $84,375 |
| Compensation of current officers, directors, key employees. | $8,438 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $273,970 |
| Pension plan accruals and contributions | $12,900 |
| Other employee benefits | $49,225 |
| Payroll taxes | $27,594 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,214 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $425 |
| Advertising and promotion | $1,827 |
| Office expenses | $26,135 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,006 |
| Travel | $2,379 |
| 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 | $3,519 |
| Insurance | $3,844 |
| All other expenses | $9,324 |
| Total functional expenses | $603,810 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $468 |
| Savings and temporary cash investments | $16,631 |
| Pledges and grants receivable | $121,533 |
| Accounts receivable, net | $1,015 |
| 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 | $7,162 |
| Investments—publicly traded securities | $3,002,542 |
| Investments—other securities | $296,592 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $157,961 |
| Total assets | $3,603,904 |
| Accounts payable and accrued expenses | $697 |
| 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 | $100,890 |
| Total liabilities | $101,587 |
| Net assets without donor restrictions | $2,524,366 |
| Net assets with donor restrictions | $977,951 |
| 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 | $3,603,904 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Moravian Music Foundation Inc has recieved totaling $39,288.
| Awarding Organization | Amount |
|---|---|
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 6 GRANT(S) FOR VARYING PURPOSES | $39,288 |
Endowment Analysis
| Beg. Balance | $43,560 |
| Earnings | $3,000 |
| Ending Balance | $46,560 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Country Music Association Inc Nashville, TN | $102,178,283 | $43,001,334 |
Birthplace Of Country Music Alliance Bristol, TN | $15,699,295 | $2,559,665 |
Musicians On Call Inc Nashville, TN | $3,633,934 | $3,486,106 |
Garth Newel Music Center Foundation Corp Warm Springs, VA | $11,030,155 | $3,286,449 |
Varna International Music Academy Columbia, SC | $449,855 | $1,227,146 |
Blues Foundation Inc Memphis, TN | $4,533,935 | $1,249,645 |
Songbirds Foundation Inc Chattanooga, TN | $16,669,845 | $490,877 |
Community Arts Association In Newton County Inc Covington, GA | $760,838 | $850,953 |
Virginia Musical Theatre Inc Virginia Beach, VA | $428,462 | $648,568 |
Musicians Hall Of Fame And Museum Nashville, TN | $2,497,299 | $1,370,985 |
Spartanburg Philharmonic Spartanburg, SC | $755,799 | $833,009 |
Jazzarts Charlotte Charlotte, NC | $599,650 | $885,033 |