Musicares Foundation Inc
- Assets
- $30.1m
- Revenue
- $15.3m
- Investments
- $1.8m
- Employees
- 36
- Location
- Santa Monica, CA
- Founding
- 12/1994
- Data as of
- 07/2023
- EIN
- 95-4470909
Organization Overview
Musicares Foundation Inc is located in Santa Monica, CA. The organization was established in 1994. 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, Musicares Foundation Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Musicares 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 07/2023, Musicares Foundation Inc generated $15.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $12.8m during the year ending 07/2023. While expenses have increased by 5.3% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
MUSICARES PROVIDES A SAFETY NET OF CRITICAL HEALTH AND WELFARE SERVICES TO THE MUSIC COMMUNITY IN THREE KEY AREAS: MENTAL HEALTH & ADDICTION RECOVERY SERVICES, HEALTH SERVICES, AND HUMAN SERVICES.
Describe the Organization's Program Activity:
FINANCIAL ASSISTANCE: MUSICARES PROVIDES UP TO $10,000 ANNUALLY FOR EMERGENCY BASIC LIVING, MEDICAL, OR OTHER NEEDS WITH A LIFETIME MAXIMUM OF $15,000. UNDER EXTRAORDINARY CIRCUMSTANCES, GRANTS MAY BE EXTENDED TO $25,000 BASED UPON A UNIQUE NEED. ASSISTANCE IS PROVIDED TO RECORDING INDUSTRY PERSONNEL, INCLUDING CREATIVE AND TECHNICAL PERSONNEL (I.E., MUSICIANS, COMPOSERS, ENGINEERS, PRODUCERS, ETC.), MUSIC BUSINESS STAFF (I.E., RECORD LABEL STAFF, MANAGEMENT COMPANIES, ENTERTAINMENT ATTORNEYS, MUSIC RETAILERS), AND OTHER MEMBERS OF THE MUSIC COMMUNITY WHO HAVE BEEN EMPLOYED IN THE INDUSTRY FOR AT LEAST FIVE YEARS. THESE GRANTS ARE MADE AVAILABLE TO MUSIC PEOPLE FACING AN UNFORESEEN MEDICAL, PERSONAL, OR FINANCIAL CRISIS. THIS CAN INCLUDE PAYMENTS FOR HEALTH CARE PROFESSIONALS AND PRESCRIPTIONS, RENT/MORTGAGE PAYMENTS, HEALTH INSURANCE PREMIUMS, AND COSTS FOR OTHER BASIC LIVING SUPPORT SERVICES. THROUGH ITS COMMUNITY OUTREACH AND EDUCATION PROGRAMS, THE FOUNDATION ALSO PROVIDES WORKSHOPS, SEMINARS, AND INDIVIDUAL CONSULTATIONS TO MEMBERS OF THE MUSIC COMMUNITY ON TOPICS RELATED TO GENERAL HEALTH AND HUMAN SERVICE NEEDS. IT ALSO PROVIDES IDEAS AND RESOURCES FOR PROACTIVELY ADDRESSING THOSE ISSUES.
MUSICARES ALSO PROVIDES VARIOUS GRANTS TO OTHER TAX-EXEMPT ORGANIZATIONS.
MENTAL HEALTH & ADDICTION RECOVERY (FORMERLY MAP FUND): MUSICARES PROVIDES EMERGENCY FINANCIAL ASSISTANCE TO INDIVIDUALS WITHIN THE MUSIC COMMUNITY FACING ADDICTION. ASSISTANCE LIMITS ARE $8,500 PER YEAR WITH A LIFETIME LIMIT OF $15,000. THE PROGRAM MAY PROVIDE PAYMENT FOR INPATIENT TREATMENT, SOBER LIVING, AND/OR OTHER EXPENSES RELATED TO RECOVERY. THE PROGRAM ALSO PROVIDES A SUPPORT NETWORK OF RECOVERY RESOURCES FOR MUSIC PEOPLE WHO ARE TOURING THROUGHOUT THE COUNTRY. IN ADDITION, THE FOUNDATION PROVIDES WORKSHOPS AND COORDINATES MEETINGS OF INDUSTRY PROFESSIONALS TO DISCUSS THE PROBLEMS OF CHEMICAL DEPENDENCY AND DISCUSS SPECIFIC STRATEGIES FOR INTERVENTION FOR INDIVIDUALS WITHIN THE MUSIC COMMUNITY.
THE DAY THAT MUSIC CARES: THE ANNUAL DAY OF SERVICE BRINGS MUSIC PROFESSIONALS AND FANS TOGETHER TO VOLUNTEER AT THE LOCAL LEVEL AND MAKE A DIFFERENCE IN THEIR COMMUNITIES. THE DAY OF SERVICE SHOWCASES THE BENEFITS OF COMMUNITY ON THE MUSIC ECOSYSTEM'S MENTAL HEALTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ambrosia Healy Vice-Chair | OfficerTrustee | 1 | $0 |
Jeff Harleston Secretary/treasurer | OfficerTrustee | 1 | $0 |
Michael Mcdonald Chair Emeritus | OfficerTrustee | 1 | $0 |
Steve Boom Chair | OfficerTrustee | 1 | $0 |
Ali Harnell Director | Trustee | 1 | $0 |
Ben Haggerty Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lewis And Clark Llc Event Production | 7/30/23 | $1,683,910 |
Mgm Resorts International Catering, Event Production, And Hotel | 7/30/23 | $1,030,220 |
Porter Novelli Inc Public Relations Services | 7/30/23 | $165,000 |
1of1 Custom Hearing Clinic Provider | 7/30/23 | $330,581 |
Invictus International Holdings Llc Event Security | 7/30/23 | $105,872 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $7,246,784 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,196,439 |
| Noncash contributions included in lines 1a–1f | $80,038 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,443,223 |
| Total Program Service Revenue | $0 |
| Investment income | $1,588,856 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,159,153 |
| Net Income from Fundraising Events | -$2,452,418 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,345 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,259,540 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,275 |
| Grants and other assistance to domestic individuals. | $7,029,638 |
| Grants and other assistance to Foreign Orgs/Individuals | $80,220 |
| 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 | $2,916,947 |
| Pension plan accruals and contributions | $104,531 |
| Other employee benefits | $359,845 |
| Payroll taxes | $214,171 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,628 |
| Fees for services: Accounting | $79,147 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $57,432 |
| Fees for services: Investment Management | $167,228 |
| Fees for services: Other | $1,043,506 |
| Advertising and promotion | $500 |
| Office expenses | $16,549 |
| Information technology | $301,643 |
| Royalties | $0 |
| Occupancy | $16,153 |
| Travel | $36,483 |
| 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 | $10,788 |
| Insurance | $66,363 |
| All other expenses | $52,338 |
| Total functional expenses | $12,751,561 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,200 |
| Savings and temporary cash investments | $4,407,057 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,803,685 |
| 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 | $83,838 |
| Net Land, buildings, and equipment | $62,470 |
| Investments—publicly traded securities | $21,754,449 |
| Investments—other securities | $1,800,645 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $139,616 |
| Total assets | $30,052,960 |
| Accounts payable and accrued expenses | $668,286 |
| Grants payable | $0 |
| Deferred revenue | $106,733 |
| 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 | $116,167 |
| Total liabilities | $891,186 |
| Net assets without donor restrictions | $28,678,225 |
| Net assets with donor restrictions | $483,549 |
| 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 | $30,052,960 |