Moravian Music Foundation Inc
- Assets
- $2.9m
- Revenue
- $393.9k
- Investments
- $211.2k
- Employees
- 11
- Location
- Winstonsalem, NC
- Founding
- 10/1959
- Data as of
- 12/2022
- 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 12/2022, Moravian Music Foundation Inc employed 11 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 12/2022, Moravian Music Foundation Inc generated $393.9k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $754.5k during the year ending 12/2022. While expenses have increased by 3.6% per year over the past 4 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
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 End 82622 Executive Di | Officer | 40 | $58,692 |
Dr Bruce Earnest Beg 81522 Executive Di | Officer | 40 | $44,143 |
Amanda Moody-Schumpert Trustee | Trustee | 1 | $0 |
Andrew Halverson Trustee | Trustee | 1 | $0 |
Rev C Riddick Weber Trustee | Trustee | 1 | $0 |
Caitlin Heckman 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 | $272,432 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $272,432 |
| Total Program Service Revenue | $51,765 |
| Investment income | $84,071 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,934 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$18,846 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $393,850 |
| 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. | $106,429 |
| Compensation of current officers, directors, key employees. | $10,643 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $288,429 |
| Pension plan accruals and contributions | $12,339 |
| Other employee benefits | $52,670 |
| Payroll taxes | $30,894 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,498 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,542 |
| Advertising and promotion | $14,031 |
| Office expenses | $23,061 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $58,043 |
| Travel | $17,326 |
| 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 | $3,105 |
| Insurance | $5,726 |
| All other expenses | $18,716 |
| Total functional expenses | $754,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,083 |
| Savings and temporary cash investments | $18,496 |
| Pledges and grants receivable | $121,533 |
| Accounts receivable, net | $2,002 |
| 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 | $4,058 |
| Investments—publicly traded securities | $2,428,713 |
| Investments—other securities | $211,192 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $127,886 |
| Total assets | $2,914,963 |
| Accounts payable and accrued expenses | $911 |
| 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 | $347,110 |
| Total liabilities | $348,021 |
| Net assets without donor restrictions | $1,723,151 |
| Net assets with donor restrictions | $843,791 |
| 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 | $2,914,963 |