Bandwith Music Ltd
- Assets
- $2.4m
- Revenue
- $568.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Chicago, IL
- Founding
- 11/2016
- Data as of
- 07/2023
- EIN
- 81-1304791
Organization Overview
Bandwith Music Ltd is located in Chicago, IL. The organization was established in 2016. 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 07/2023, Bandwith Music Ltd employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bandwith Music Ltd 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 07/2023, Bandwith Music Ltd generated $568.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 58.1% each year . All expenses for the organization totaled $672.7k during the year ending 07/2023. While expenses have increased by 64.9% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BANDWITH MUSIC WORKS TO PROMOTE WELLNESS WITHIN UNDERSERVED CHICAGO COMMUNITIES BY PROVIDING LASTING ACCESS TO EXCEPTIONAL PERFORMING ARTS INSTRUCTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING FREE DANCE, DRUMLINE, SOUND ENGINEERING, INSTRUMENTAL AND CHORAL ENSEMBLE PROGRAMS TO THE LOCAL COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bernetta Smith President | OfficerTrustee | 1 | $0 |
Darrah Griffin Trustee | Trustee | 1 | $0 |
Rich Goode Trustee | Trustee | 1 | $0 |
Javier Ayala Treasurer | OfficerTrustee | 1 | $0 |
Brandy Champion Trustee | Trustee | 1 | $0 |
Marques Carroll Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $26,104 |
| Related organizations | $0 |
| Government grants | $265,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $198,426 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $489,530 |
| Total Program Service Revenue | $57,875 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $34,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$14,270 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $568,135 |
| 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. | $76,721 |
| Compensation of current officers, directors, key employees. | $7,678 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,405 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,825 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,164 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,070 |
| Office expenses | $749 |
| Information technology | $8,776 |
| Royalties | $0 |
| Occupancy | $480 |
| Travel | $57,995 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $90,641 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,275 |
| Insurance | $19,088 |
| All other expenses | $1,578 |
| Total functional expenses | $672,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,270 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $101,553 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $4,833 |
| 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 | $2,121,571 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,382,227 |
| Accounts payable and accrued expenses | $42,168 |
| 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 | $1,323,261 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,365,429 |
| Net assets without donor restrictions | $1,016,798 |
| 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 | $2,382,227 |