Save Our Musicians Foundation Inc
- Assets
- $10.1m
- Revenue
- $23.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Jupiter, FL
- Founding
- Data as of
- 12/2023
- EIN
- 87-1020850
Organization Overview
Save Our Musicians Foundation Inc is located in Jupiter, FL. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Save Our Musicians 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE SAVE OUR MUSICIANS FOUNDATION (SOMF) IS A PASSIONATE 501(C)(3) NON-PROFIT DEDICATED TO EMPOWERING THE INDEPENDENT MUSICIAN. THE ORGANIZATION WAS INITIALLY FOUNDED IN 2021 WITH THE GOAL OF HELPING MUSICIANS THROUGH A CHALLENGING POST-PANDEMIC PERIOD WHERE OPPORTUNITIES TO BOOK LIVE GIGS BECAME VIRTUALLY NON-EXISTENT. OUR MISSION HAS SINCE EVOLVED TO A MORE COMPREHENSIVE APPROACH TOWARDS ADDRESSING THE CHALLENGES FACED BY ASPIRING INDEPENDENT MUSICIANS. WHILE THE CORE OF OUR NON-PROFIT ACTIVITIES CENTER AROUND SHOWCASING TALENT THROUGH LIVE GIGS AND PERFORMANCE OPPORTUNITIES, WE ALSO PROVIDE A WHOLISTIC APPROACH TOWARDS THE VARIOUS FACETS OF ARTIST DEVELOPMENT AND FOSTER GROWTH AT EVERY STAGE OF A MUSICIAN'S CAREER. WE BELIEVE MUSIC IS A TRANSFORMATIVE FORCE THAT UNITES COMMUNITIES AND IGNITES POSITIVE CHANGE. BY FOSTERING A SUPPORTIVE ECOSYSTEM, WE CULTIVATE ARTISTIC GROWTH, PROPEL CAREERS, AND CHAMPION THE FUTURE OF MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHOWCASING TALENT, BUILDING AUDIENCESOUR FLAGSHIP PROGRAM, THE SAVE OUR MUSICIANS FOUNDATION'S PRIVATE CONCERT SERIES, HELD IN CONJUNCTION WITH AIRTAB'S OPEN FOR AN ICON COMPETITION, TRANSFORMS UNDISCOVERED TALENT INTO RISING STARS. BY PAIRING A HIGH-STAKES COMPETITION WITH EXCLUSIVE PERFORMANCE OPPORTUNITIES ALONGSIDE ESTABLISHED ARTISTS, WE CREATE A DYNAMIC PLATFORM FOR ARTIST DISCOVERY. ALL PARTICIPANTS IN THE PROGRAM CAN INSTANTLY EXPAND THEIR FANBASE, WHILE WINNERS GAIN ACCESS TO UNPARALLELED EXPOSURE, INDUSTRY CREDIBILITY, AND THE EXPERIENCE OF A LIFETIME.
NURTURING ARTISTIC GROWTH AND ARTIST DEVELOPMENTSOMF'S ARTIST DEVELOPMENT INITIATIVES OFFER PERSONALIZED MENTORSHIP, WORKSHOPS, AND CAREER COACHING. OUR INDUSTRY VETERANS PROVIDE INVALUABLE GUIDANCE ON SONGWRITING, PRODUCTION, BRANDING, AND BUSINESS ACUMEN. BY EQUIPPING ARTISTS WITH ESSENTIAL SKILLS AND KNOWLEDGE, WE HELP THEM BUILD SUSTAINABLE MUSIC CAREERS.
INVESTING IN THE MUSIC COMMUNITYBEYOND INDIVIDUAL ARTIST SUPPORT, SOMF IS COMMITTED TO CULTIVATING A VIBRANT MUSIC LANDSCAPE. WE PROVIDE FINANCIAL SUPPORT TO ORGANIZATIONS THAT SHARE OUR MISSION OF MUSIC EDUCATION AND ACCESSIBILITY. THROUGH STRATEGIC PARTNERSHIPS AND DONATIONS TO OTHER NON-PROFITS WE ENSURE THAT FUTURE GENERATIONS HAVE THE OPPORTUNITY TO EXPLORE THEIR MUSICAL PASSIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Cunningham President/ceo | OfficerTrustee | 1 | $0 |
Felicia Cunningham Treasurer | OfficerTrustee | 1 | $0 |
Christian Demers Vice President | OfficerTrustee | 1 | $0 |
Bernie Carballo Secretary | OfficerTrustee | 1 | $0 |
Robert Samuels Vice President | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Software Development Associates Producer | 12/30/23 | $5,625,550 |
Endeavor Parents Llc Wme Entertainment Talent Agency | 12/30/23 | $3,550,000 |
Mdr Entertainment Llc Producer | 12/30/23 | $1,005,506 |
Clarke West Productions Llc Consultant | 12/30/23 | $377,489 |
Larrance Dopson Production Co Llc Consultant | 12/30/23 | $308,412 |
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 | $22,609,900 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,609,900 |
| Total Program Service Revenue | $595,103 |
| Investment income | $140,098 |
| 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 | $23,345,101 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $630,000 |
| 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 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 | $40,288 |
| 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 | $12,508,286 |
| Advertising and promotion | $2,739,974 |
| Office expenses | $4,471 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $217,722 |
| Travel | $120,237 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $28,781 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,998 |
| All other expenses | $0 |
| Total functional expenses | $16,507,925 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,860 |
| Savings and temporary cash investments | $2,311,604 |
| Pledges and grants receivable | $5,000,000 |
| Accounts receivable, net | $88,461 |
| 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 | $138,666 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,545,669 |
| Total assets | $10,100,260 |
| Accounts payable and accrued expenses | $3,271,471 |
| 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 | $3,271,471 |
| Net assets without donor restrictions | $6,828,789 |
| 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 | $10,100,260 |
Grants Awarded
Over the last fiscal year, Save Our Musicians Foundation Inc has awarded $630,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SCHOOL OF THE ARTS FOUNDATION PURPOSE: TO SUPPORT MUSICIANS | $550,000 |
JUPITER COMMUNITY HIGH SCHOOL PURPOSE: TO SUPPORT MUSICIANS | $15,000 |
BAK MSOA FOUNDATION PURPOSE: TO SUPPORT MUSICIANS | $50,000 |
JUPITER CHRISTIAN SCHOOL INC PURPOSE: TO SUPPORT MUSICIANS | $15,000 |