Georgia Music Foundation Inc
- Assets
- $73.9k
- Revenue
- $257.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Macon, GA
- Founding
- 04/1995
- Data as of
- 06/2021
- EIN
- 58-2133856
Organization Overview
Georgia Music Foundation Inc is located in Macon, GA. The organization was established in 1995. According to its NTEE Classification (A50) the organization is classified as: Museums, 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. Georgia 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 06/2021, Georgia Music Foundation Inc generated $257.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $284.9k during the year ending 06/2021. While expenses have increased by 21.3% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
FOSTERING AN AWARENESS OF THE STATE'S RICH MUSIC HERITAGE BY SUPPORTING PROGRAMS OF PRESERVATION, EDUCATION AND OUTREACH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING FISCAL YEAR 2021, THE GEORGIA MUSIC FOUNDATION SHIFTED MUCH OF ITS FOCUS TO COVID-RELATED SUPPORT. RECOGNIZING THE SERIOUS FINANCIAL IMPACT ON THE LIVE MUSIC AND TOUR INDUSTRY, THE FOUNDATION ESTABLISHED THE GEORGIA MUSIC RELIEF FUND AND DISTRIBUTED MORE THAN 70,000 TO MUSICIANS AND CREW MEMBERS STATEWIDE TO ASSIST WITH LIVING EXPENSES. MANY OF THE FOUNDATION'S MUSIC EDUCATION GRANTS FOR THE YEAR ADDRESSED THE CRITICAL NEED FOR ONLINE INSTRUCTION AND RESOURCES. THE GEORGIA MUSIC FOUNDATION ALSO COMPLETED ITS "MUSIC EDUCATION IS WORKFORCE DEVELOPMENT" REPORT ADVOCATING MUSIC EDUCATION AS A PATHWAY FOR STUDENTS TO DEVELOP IN-DEMAND SOFT SKILLS, AND BEGAN SHARING THE STUDY WITH PEERS IN MUSIC EDUCATION AND ECONOMIC DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Love Henderson Foundation M | Officer | 30 | $27,083 |
Dallas Davidson Chair | Officer | 1 | $0 |
Karla Redding-Andrews Vice-Chair | Officer | 1 | $0 |
Ben Harbin Secretary-Tr | Officer | 1 | $0 |
Dinah Gretsch Director | Trustee | 1 | $0 |
Bo Henry Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $120,350 |
| All other contributions, gifts, grants, and similar amounts not included above | $136,550 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $256,900 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $626 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $257,526 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $72,974 |
| Grants and other assistance to domestic individuals. | $70,665 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $50,000 |
| Compensation of current officers, directors, key employees. | $10,000 |
| 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 | $200 |
| Fees for services: Accounting | $5,023 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $50,448 |
| Advertising and promotion | $10,652 |
| Office expenses | $7,819 |
| Information technology | $1,694 |
| Royalties | $0 |
| Occupancy | $7,030 |
| Travel | $1,136 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,478 |
| Interest | $659 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $308 |
| All other expenses | $1,863 |
| Total functional expenses | $284,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,925 |
| 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 | $50,000 |
| Total assets | $73,925 |
| Accounts payable and accrued expenses | $4,456 |
| 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 | $4,456 |
| Net assets without donor restrictions | $15,519 |
| Net assets with donor restrictions | $53,950 |
| 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 | $73,925 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Georgia Music Foundation Inc has recieved totaling $6,370.
| Awarding Organization | Amount |
|---|---|
Bennett Thrasher Foundation Inc Atlanta, GA PURPOSE: GENERAL OPERATING FUND | $5,000 |
Ron & Lisa Brill Charitable Tr Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
Westrock Foundation Atlanta, GA PURPOSE: MATCHING GIFTS PROGRAM | $334 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $36 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Country Music Foundation Inc Nashville, TN | $103,507,163 | $14,152,198 |
Palm Beach Maritime Museum Inc Lantana, FL | $20,865,906 | $12,542,003 |
Barber Vintage Motorsports Museum Birmingham, AL | $96,854,317 | $20,184,084 |
National Center For Civil And Humanrights Inc Atlanta, GA | $28,909,465 | $12,210,926 |
Tennessee Golf Foundation Franklin, TN | $24,594,928 | $7,116,069 |
Atlanta Hall Management Inc Atlanta, GA | $34,614,233 | $3,372,998 |
International African American Museum Charleston, SC | $69,899,271 | $29,654,302 |
Discovery Park Of America Inc Union City, TN | $88,157,973 | $11,219,580 |
Tennessee State Museum Foundation Nashville, TN | $6,574,867 | $116,981 |
Naval Aviation Museum Foundation Inc Pensacola, FL | $33,055,724 | $12,296,659 |
Cook Museum Of Natural Science Decatur, AL | $31,863,685 | $9,083,410 |
Adventure Science Center Nashville Nashville, TN | $22,045,170 | $10,457,321 |