Music Academy Foundation in Rockford, Illinois (IL)

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Music Academy Foundation
Employer Identification Number (EIN)205792412
Name of OrganizationMusic Academy Foundation
In Care of NameMartha Frantz
AddressPO BOX 6333, Rockford, IL 61125-1333
SubsectionCharitable Organization
Ruling Date09/2007
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$100,000 to $499,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$123,834
Amount of Income$54,199
Form 990 Revenue Amount$40,429
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Single Organization Support


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Amount of income in 2013: $54,199 (it was $30,870 in 2012)
This organization: 

 $54,199
Other organizations performing similar types of work: 

 $87,224

Assets in 2013: $123,834 (it was $98,711 in 2012)
Music Academy Foundation: 

 $123,834
Other organizations performing similar types of work: 

 $49,265

Expenses in 2013: $15,306
This organization: 

 $15,306
Other organizations performing similar types of work: 

 $62,660

Income to expenses ratio in 2013: 3.5
This organization: 

 3.5
Other organizations performing similar types of work: 

 1.3

Grants share in income in 2013: 89.4%
Music Academy Foundation: 

 89.4%
Other organizations performing similar types of work: 

 17.1%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$42,116$25,486$40,429
Contributions, gifts, grants, and similar amounts received$37,814$23,741$36,140
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$0$0$0
Investment income$3,286$3,695$5,529
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$929$-1,950$-1,240
Gross income from gaming$0$0$0
Gross income from fundraising events$4,452$3,434$12,530
Less: direct expenses from gaming and fundraising events$3,523$5,384$13,770
Gross profit/loss from sales of inventory$87$0$0
Other revenue$0$0$0
Total expenses$22,395$30,147$15,306
Total net assets$103,372$98,711$123,834
Excess/Deficit for the year$19,721$-4,661$25,123
Net assets or fund balances at beginning of year$83,651$103,372$98,711
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$98,711$123,834
Balance Sheets
201120122013
Total assets$103,372$98,711$123,834
Total liabilities$0$0$0
Net assets or fund balances$103,372$98,711$123,834
Other Information
201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities$0$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$141,340
Subtotal Support$141,340
Gifts, grants, contributions, and membership fees received$141,340
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$0
Total Support$157,373
Public Support$141,340
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$16,033
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Actors Fund Of America P0699000910 S Dearborn Il1-0117, Chicago, IL 60603-2300IL$523,530
2Community Concert Association Canton Illinois Ltd35 N Sycamore Terrace, Canton, IL 61520-1222IL1987-12$29,744
3Toledo Orchestra Association IncPO BOX 407, Toledo, OH 43697-0407OH1952-01$8,505,907
4Seattle Repertory Theatre FoundationPO BOX 900923, Seattle, WA 98109-9723WA1996-07$6,115,566
5Maltz Jupiter Theatre Endowment1001 E Indiantown Rd, Jupiter, FL 33477-5110FL2011-06$5,391,942
6Adrienne Arsht Center Foundation Inc1300 Biscayne Boulevard, Miami, FL 33132FL2008-08$4,486,757
7The Miami Music Association Inc1444 Biscayne Blvd, Miami, FL 33132-1430FL2008-03$3,238,593
8Trinity Booster Club747 N Church Rd Ste B1, Elmhurst, IL 60126-1440IL1998-05$863,980
9Josephine Cook Tr Ua 51171-00-710 S Dearborn, Chicago, IL 60603-2300IL2011-02$122,018
1016th Street Theater Nfp1619 S Wesley Ave, Berwyn, IL 60402IL2009-11$115,988
11Tws Foundation4384 Hampton Ave, Western Sprgs, IL 60558-1338IL2008-01$74,861
12Music Academy FoundationPO BOX 6333, Rockford, IL 61125-1333IL2007-09$54,199
13Fabulous Inc, Dba Huntley High School Fine Arts BoostersPo Box 976, Huntley, IL 60142IL2009-03$25,945
14Stockton Music Booster Club1330 S Curtiss Rd, Stockton, IL 61085-9703IL2009-03$23,809
15Thompson Fine Arts Boosters705 W Main St, St Charles, IL 60174IL2012-11$9,649
16Womens Auxiliary Of The Elmhurst Symphony AssociationPO BOX 345, Elmhurst, IL 60126-0345IL1987-11$5,050
17Court Theatre Fund5535 S Ellis Ave, Chicago, IL 60637-1401IL1983-01$0
18Friends Of The Opera House Inc121 Van Buren Street, Woodstock, IL 60098IL2004-10$0
19Nscb Foundation909 Sheridan Rd, Highland Park, IL 60035IL2003-07$0
20Scn Friends Of Music255 Red Gate Rd, St Charles, IL 60175-6396IL2015-01$0
Number of organizations performing similar types of work
Alaska2
Alabama2
Arkansas2
Arizona5
California27
Colorado6
Connecticut2
District of Columbia1
Delaware1
Florida22
Georgia2
Iowa7
Idaho1
Illinois15
Indiana6
Kansas3
Kentucky3
Louisiana5
Massachusetts6
Maryland4
Maine2
Michigan15
Minnesota3
Missouri14
Mississippi1
Montana2
North Carolina12
Nebraska3
New Hampshire2
New Jersey5
New Mexico2
Nevada1
New York25
Ohio18
Oklahoma4
Oregon6
Pennsylvania5
Rhode Island1
South Carolina8
Tennessee3
Texas41
Utah1
Virginia13
Washington9
Wisconsin9
West Virginia3
International2
Total332

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