Rhythm Foundation Inc
- Assets
- $884.7k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Miami Beach, FL
- Founding
- 08/1990
- Data as of
- 09/2021
- EIN
- 65-0102768
Organization Overview
Rhythm Foundation Inc is located in Miami Beach, FL. The organization was established in 1990. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 09/2021, Rhythm Foundation Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rhythm 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 09/2021, Rhythm Foundation Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $1.3m during the year ending 09/2021. While expenses have increased by 6.3% 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
CULTURAL MUSIC PRESENTATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
2020-2021 SEASON SERIES TOTAL AUDIENCE 121,258
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benton Galgay Employee | Officer | 40 | $67,000 |
Laura Quinland Employee | Trustee | 40 | $46,350 |
James Quinlan Director | Trustee | 0 | $36,000 |
Maribel Cabrera Employee | Officer | 20 | $20,000 |
Suzanne Pallot Employee | Officer | 20 | $15,000 |
Gregory Johnston Employee | Officer | 20 | $13,750 |
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 | $550,278 |
| Noncash contributions included in lines 1a–1f | $80,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $550,278 |
| Total Program Service Revenue | $598,527 |
| Investment income | $2,764 |
| 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 | $1,364,749 |
| 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. | $216,272 |
| Compensation of current officers, directors, key employees. | $216,272 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $16,492 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,829 |
| Fees for services: Accounting | $3,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $78,133 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,000 |
| Travel | $18,518 |
| 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 | $2,095 |
| Insurance | $28,558 |
| All other expenses | $792,994 |
| Total functional expenses | $1,303,444 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $415,149 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $137,143 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,536 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,316 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $319,521 |
| Total assets | $884,665 |
| Accounts payable and accrued expenses | $806,682 |
| 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 | $806,682 |
| Net assets without donor restrictions | $77,983 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $884,665 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Rhythm Foundation Inc has recieved totaling $5,061.
| Awarding Organization | Amount |
|---|---|
Russell & Ronalee Galbut Familyfoundation Miami, FL PURPOSE: SOCIAL SERVICES | $2,500 |
Garner Foundation Inc Miami, FL PURPOSE: GENERAL SUPPORT | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $61 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobbie Bailey Foundation Inc Tucker, GA | $24,485,053 | $1,564,197 |
Yhwh Foundation Inc Carrollton, GA | $0 | $14,288,691 |
Miriam U Hoover Foundation Vero Beach, FL | $0 | $462,542 |
Dr Herbert And Nicole Wertheim Family Foundation Inc Miami, FL | $42,831,898 | $5,245,016 |
Quality Senior Housing Foundation Of East Texas Inc Atlanta, GA | $68,762,519 | $14,924,948 |
The Mary Alice Fortin Foundation Palm Beach, FL | $167,401,142 | $8,209,363 |
Zeist Foundation Inc Atlanta, GA | $306,093,080 | $21,313,980 |
Anverse Inc Cartersville, GA | $0 | $25,436,325 |
Louis And Gloria Flanzer Philantrhopic Tr Sarasota, FL | $95,188,629 | $13,796,000 |
Uga Real Estate Foundation Inc Athens, GA | $310,229,529 | $14,839,274 |
The Gary W Rollins Foundation Atlanta, GA | $72,624,629 | $27,015,806 |
Theodore R & Vivian M Johnson Scholarship Foundation Inc West Palm Beach, FL | $0 | $7,841,898 |