Music Associates Of Aspen Inc
- Assets
- $125.0m
- Revenue
- $22.7m
- Investments
- $79.5m
- Employees
- 52
- Location
- Aspen, CO
- Founding
- 03/1955
- Data as of
- 09/2021
- EIN
- 84-0445087
Organization Overview
Music Associates Of Aspen Inc, operating under the name Aspen Music Festival And School, is located in Aspen, CO. The organization was established in 1955. According to its NTEE Classification (A6E) the organization is classified as: Performing Arts Schools, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2021, Aspen Music Festival And School employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aspen Music Festival And School 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, Aspen Music Festival And School generated $22.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $17.3m during the year ending 09/2021. 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
THE ASPEN MUSIC FESTIVAL & SCHOOL BRINGS TOGETHER THE FINEST MUSIC STUDENTS, ARTIST FACULTY AND PERFORMERS TO CREATE TRANSFORMATIVE EDUCATIONAL EXPERIENCES WITHIN A COMMUNITY OF ARTISTIC INTEGRITY AND INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSIC EDUCATION FOR STUDENTS DURING AN EIGHT-WEEK SESSION, INCLUDING ORCHESTRAL AND CHAMBER PERFORMANCES BEFORE PUBLIC AUDIENCES.
COMMUNITY MUSIC EDUCATION AND OUTREACH, INCLUDING SUSTAINED IN-SCHOOL ENRICHMENT AND AFTER SCHOOL PROGRAMMING FOR APPROXIMATELY 500 STUDENTS THROUGHOUT THE ROARING FORK VALLEY.
OTHER PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Fletcher President/ceo | OfficerTrustee | 40 | $557,513 |
Jennifer B Elliot Senior VP Strategy And Adm | Officer | 40 | $252,578 |
Asadour Santourian VP Artistic Admin. | Officer | 40 | $205,494 |
Steve Haddad VP Development | 40 | $205,385 | |
Jennifer White VP & Dean Of Students | 40 | $169,580 | |
Laura Smith VP Marketing/communication | 40 | $164,601 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc & Affiliates Food Services | 9/29/20 | $645,226 |
Opus 3 Artists Aaf Robert Spano Entertainment | 9/29/20 | $254,442 |
Tish Jimenez Cleaning Co Maintenance | 9/29/20 | $242,618 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $837,007 |
| Related organizations | $0 |
| Government grants | $2,745,820 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,811,083 |
| Noncash contributions included in lines 1a–1f | $1,091,729 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,393,910 |
| Total Program Service Revenue | $4,715,036 |
| Investment income | $737,037 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,257 |
| Net Gain/Loss on Asset Sales | $5,877,070 |
| Net Income from Fundraising Events | -$212,133 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$2,426 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,688,530 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,531,272 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,298,887 |
| Compensation of current officers, directors, key employees. | $773,655 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,911,872 |
| Pension plan accruals and contributions | $131,086 |
| Other employee benefits | $407,557 |
| Payroll taxes | $271,511 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,433 |
| Fees for services: Accounting | $24,080 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $236,715 |
| Fees for services: Other | $220,308 |
| Advertising and promotion | $187,379 |
| Office expenses | $321,377 |
| Information technology | $243,776 |
| Royalties | $0 |
| Occupancy | $212,006 |
| Travel | $100,121 |
| 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 | $1,916,487 |
| Insurance | $476,988 |
| All other expenses | $1,512,005 |
| Total functional expenses | $17,270,602 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,754,440 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,662,418 |
| Accounts receivable, net | $87,816 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $24,330 |
| Prepaid expenses and deferred charges | $165,403 |
| Net Land, buildings, and equipment | $24,334,897 |
| Investments—publicly traded securities | $12,374,073 |
| Investments—other securities | $79,488,853 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,107,887 |
| Total assets | $125,000,117 |
| Accounts payable and accrued expenses | $654,980 |
| Grants payable | $0 |
| Deferred revenue | $278,783 |
| 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 | $162,944 |
| Other liabilities | $0 |
| Total liabilities | $1,096,707 |
| Net assets without donor restrictions | $42,740,152 |
| Net assets with donor restrictions | $81,163,258 |
| 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 | $125,000,117 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Music Associates Of Aspen Inc has recieved totaling $389,622.
| Awarding Organization | Amount |
|---|---|
Pettit Foundation Henderson, NV PURPOSE: SUPPORT. | $100,000 |
Aspen Community Foundation Basalt, CO PURPOSE: GENERAL SUPPORT | $82,050 |
Jewish Community Foundation Of Greater Kansas City Overland Park, KS PURPOSE: General support | $55,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $32,900 |
Sidney E Frank Charitable Foundation Harrison, NY PURPOSE: TO SUPPORT THE PURCHASE OF LIVESTREAM VIDEO PRODUCTION EQUIPMENT | $20,000 |
Denver Foundation Denver, CO PURPOSE: THE CONTINUATION OF THE SCHOLARSHIP STARTED BY BETTY NASTER | $18,000 |
Endowment Analysis
| Beg. Balance | $78,220,685 |
| Earnings | $13,497,912 |
| Admin Expense | -$236,715 |
| Net Contributions | $2,084,119 |
| Other Expense | -$2,522,767 |
| Ending Balance | $91,043,234 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Music Associates Of Aspen Inc Aspen, CO | $125,000,117 | $22,688,530 |
Hale Center Foundation For The Arts And Education Orem, UT | $4,571,112 | $5,633,884 |
Dancers Workshop Jackson, WY | $1,179,365 | $2,677,288 |
Omaha Conservatory Of Music Omaha, NE | $16,180,584 | $429,629 |
Barthelmes Conservatory Inc Tulsa, OK | $226,346 | $568,241 |
Lead Guitar Tucson, AZ | $382,387 | $804,490 |
Phoenix Conservatory Of Music Phoenix, AZ | $402,976 | $846,341 |
Taos School Of Music Incorporated Taos, NM | $3,000,343 | $563,635 |
Kansas Music Educators Association Wichita, KS | $613,034 | $482,576 |
Oklahoma Youth Orchestra Inc Oklahoma City, OK | $117,077 | $298,770 |
Crested Butte School Of Dance Inc Crested Butte, CO | $302,379 | $373,548 |
Dance Arts Los Alamos White Rock, NM | $79,826 | $313,726 |