The Music Preservation Society Inc
- Assets
- $32.0
- Revenue
- $168.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Florence, AL
- Founding
- 06/1984
- Data as of
- 09/2019
- EIN
- 64-0677237
Organization Overview
The Music Preservation Society Inc is located in Florence, AL. The organization was established in 1984. 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. Music Preservation Society 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 09/2019, Music Preservation Society Inc generated $168.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $186.6k during the year ending 09/2019. As we would expect to see with falling revenues, expenses have declined by (5.9%) per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
EVENTS COMPRISING THE W.C. HANDY FESTIVAL WERE PRIMARILY MUSICAL IN NATURE AND DEEPENED AWARENESS OF AND APPRECIATION FOR MUSICAL HERITAGE AND CULTURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
EVENTS COMPRISING THE W.C. HANDY FESTIVAL WERE PRIMARILY MUSICAL IN NATURE AND DEEPENED AWARENESS OF AND APPRECIATION FOR MUSICAL HERITAGE AND CULTURE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Felice Green President-El | Officer | $0 | |
Tori Bailey President | Officer | $0 | |
Dick Cooper Vice Preside | Officer | $0 | |
Tim Leigh Treasurer | Officer | $0 | |
Alison Stanfield Secretary | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $52,993 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $168,518 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,259 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,669 |
| Travel | $17,783 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $631 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $186,605 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $32 |
| 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 | $0 |
| Total assets | $32 |
| 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 | $4,550 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $35,522 |
| Other liabilities | $17,060 |
| Total liabilities | $57,132 |
| Net assets without donor restrictions | -$57,100 |
| 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 | -$57,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Country Music Association Inc Nashville, TN | $102,178,283 | $43,001,334 |
Gasparilla Music Foundation Inc Tampa, FL | $1,064,591 | $5,545,638 |
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 |
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 |
Blues Foundation Inc Memphis, TN | $4,533,935 | $1,249,645 |
Bach Festival Society Of Winter Park Winter Park, FL | $4,981,220 | $1,213,306 |
Songbirds Foundation Inc Chattanooga, TN | $16,669,845 | $490,877 |
Community Arts Association In Newton County Inc Covington, GA | $760,838 | $850,953 |