Panama City Music Association Inc
- Assets
- $469.0k
- Revenue
- $23.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Panama City, FL
- Founding
- 04/1982
- Data as of
- 05/2021
- EIN
- 59-7604357
Organization Overview
Panama City Music Association Inc is located in Panama City, FL. The organization was established in 1982. According to its NTEE Classification (A68) the organization is classified as: Music, 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. Panama City Music Association 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 05/2021, Panama City Music Association Inc generated $23.7k 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 (27.3%) each year. All expenses for the organization totaled $33.2k during the year ending 05/2021. As we would expect to see with falling revenues, expenses have declined by (18.4%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF MUSICAL PERFORMANCES
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCERTS:PROMOTION OF PROFESSIONAL MUSIC PERFORMANCES TO ENRICH COMMUNITY
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Borich Program Chai | OfficerTrustee | $0 | |
Jan Cook Membership C | OfficerTrustee | $0 | |
Cindy Reimers Treasurer | Officer | $0 | |
Mary Hulgan Secretary | Officer | $0 | |
Gerry Wilson Vice Preside | Officer | $0 | |
Jack Ringelbert President | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,350 |
| Investment income | $6,898 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $8,443 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,691 |
| Statement of Expenses | |
|---|---|
| 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 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 | $0 |
| Fees for services: Accounting | $5,160 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $827 |
| Information technology | $1,144 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $33,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $468,998 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2 |
| Total assets | $469,000 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $16,000 |
| 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 | $31,220 |
| Total liabilities | $47,220 |
| 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 |
| Total liabilities and net assets/fund balances | $421,780 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Panama City Music Association Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Heyman Family Foundation Inc Marietta, GA PURPOSE: OPERATING FUND | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gasparilla Music Foundation Inc Tampa, FL | $1,064,591 | $5,545,638 |
Latin Grammy Cultural Foundation Doral, FL | $2,673,582 | $2,064,873 |
Florida West Coast Symphony Inc Endowment Tr Sarasota, FL | $31,410,388 | $1,333,679 |
Clearwater Jazz Holiday Foundation Inc Clearwater, FL | $1,252,742 | $1,598,944 |
Nu Deco Ensemble Inc Miami, FL | $264,007 | $1,216,119 |
Bach Festival Society Of Winter Park Winter Park, FL | $4,981,220 | $1,213,306 |
Community Arts Association In Newton County Inc Covington, GA | $760,838 | $850,953 |
Young Musicians Unite Inc Miami, FL | $743,271 | $986,222 |
Florida Smooth Jazz Foundation Inc Daytona Beach, FL | $674,500 | $806,903 |
Southwest Florida Symphony Orchestra And Chorus Association I Fort Myers, FL | $2,643,813 | $756,553 |
American Federation Of Musicians Of The Us & Canada Atlanta, GA | $1,564,619 | $594,918 |
Chamber Music Society Of Palm Beach Inc Palm Beach, FL | $369,109 | $714,588 |