Music In The Loft in Chicago, Illinois (IL)

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Music In The Loft
Employer Identification Number (EIN)364002283
Name of OrganizationMusic In The Loft
In Care of NameJohn Shannon
Address1335 S Michigan Ave, Chicago, IL 60605-2601
ActivitiesDescribed in section 509(a)(2) of the Code, Cultural performances
SubsectionCharitable Organization
Ruling Date05/1995
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$25,000 to $99,999
Income$10,000 to $24,999
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$35,590
Amount of Income$13,077
Form 990 Revenue Amount$13,077
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Performing Arts Organizations


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Amount of income in 2014: $13,077 (it was $32,573 in 2013)
This organization: 

 $13,077
Other organizations performing similar types of work: 

 $62,906

Assets in 2014: $35,590 (it was $55,405 in 2013)
This organization: 

 $35,590
Other organizations performing similar types of work: 

 $17,297

Expenses in 2014: $32,892
Music In The Loft: 

 $32,892
Other organizations performing similar types of work: 

 $56,825

Income to expenses ratio in 2014: 0.4
Music In The Loft: 

 0.4
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2014: 42.1%
Music In The Loft: 

 42.1%
Other organizations performing similar types of work: 

 90.7%

Financial snapshot ($)

Revenue for 2014

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2011201220132014
Total revenue$73,362$67,588$32,573$13,077
Contributions, gifts, grants, and similar amounts received$37,500$50,277$6,110$5,500
Program service revenue including government fees and contracts$35,729$17,273$26,425$7,554
Membership dues and assessments$0$0$0$0
Investment income$133$38$38$23
Gain/Loss from sale of assets other than inventory$0$0$0$0
Net income/loss from gaming and fundraising events$0$0$0$0
Gross profit/loss from sales of inventory$0$0$0$0
Other revenue$0$0$0$0
Total expenses$92,504$78,910$53,174$32,892
Total net assets$87,328$76,006$55,405$35,590
Excess/Deficit for the year$-19,142$-11,322$-20,601$-19,815
Net assets or fund balances at beginning of year$117,930$87,328$76,006$55,405
Other changes in net assets or fund balances$-11,460$0$0$0
Net assets or fund balances at end of year$76,006$55,405$35,590
Balance Sheets
2011201220132014
Total assets$87,328$76,006$55,405$35,590
Total liabilities$0$0$0$0
Net assets or fund balances$87,328$76,006$55,405$35,590
Other Information
2011201220132014
Did the organization engage in any significant activity not previously reported to the IRS?NoNoNo
Were any significant changes made to the organizing or governing documents?NoNoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNoNo
Has the organization filed a Form 990-T for the year?NoNoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNoNo
Amount of political expenditures, direct or indirect$0$0$0
Did the organization file Form 1120-POL for this year?NoNoNo
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?NoNoNo
Total amount involved$0$0$0
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities$0$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?NoNoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNoNo
Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2010 - 2014)
2010 - 2014 Total
Public support$258,379
Subtotal$258,379
Gifts, grants, contributions, and membership fees received$156,168
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$102,211
Gross receipts from activities that are not an unrelated trade or business under section 513$0
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
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$258,799
Public support$258,379
Subtotal$420
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$420
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Hoogland Center For The Arts Inc420 S 6th St, Springfield, IL 62701-1808IL2001-11$942,481
2Core Of Culture Dance Preservation4725 N Western Ave Ste 240, Chicago, IL 60625-2096IL2014-05$111,236
3Dead Writers Theatre Collective Inc1143 W North Shore Ave, Chicago, IL 60626-4617IL2012-05$108,526
4Endure Productions Inc3473 S King Dr, Chicago, IL 60616-4108IL2012-04$101,236
5Collaborative Arts Institute Of Chicago330 S Wells St Ste 800, Chicago, IL 60606-7110IL2010-12$94,736
6Collective Theatre Company5 E Carriageway Dr Suite 110, Hazelcrest, IL 60429IL2011-09$87,349
7Mace Nfp1770 S Randall Road, Geneva, IL 60134-4646IL2012-07$83,526
8Kv 265 Nfp, Kv 2658126c Concord Lane, Justice, IL 60480IL2010-09$75,282
9Marquee Youth Stage804 State St, St Charles, IL 60174-1753IL2013-12$49,565
10Chicago Cabaret ProfessionalsPO BOX 408268, Chicago, IL 60640-8268IL2002-07$33,207
11Tinuah Foundation205 E 75th St, Chicago, IL 60619-2215IL2002-04$27,960
12Blue Sky Rhythm Productions2731 174th St, Hazel Crest, IL 60429-1729IL2014-05$20,145
13Southeastern Illinois Concert Association Ltd4985 N Collins Drive, Olney, IL 62450IL2004-01$19,599
14Scena Polonia Nfp11s471 Rachael Ct, Willowbrook, IL 60527-6892IL2015-03$16,668
15Southern Illinois Young Artistorganization NfpPO BOX 243, Glen Carbon, IL 62034-0243IL2007-07$5,962
16Xiao Xing Xing Inc615 Ridge Ave, Evanston, IL 60202-2632IL2010-03$2,915
17Stage One Productions Inc604 E Camp Mcdonald Rd, Prosect Heights, IL 60070-2503IL2002-06$2,557
18Created Ttreasures Inc17216 South Park Avenue, South Holland, IL 60473IL2014-08$2,500
19American Institute Of Performing Arts181 S Lincolnway, North Aurora, IL 60542-1609IL2012-11$1,675
2021st Century Chorale Nfp, 21st Century Chorale910 S Laflin St, Chicago, IL 60607-4024IL2015-04$0
Number of organizations performing similar types of work
Alaska10
Alabama23
Arkansas22
Arizona60
California507
Colorado62
Connecticut42
District of Columbia25
Delaware10
Florida146
Georgia79
Hawaii19
Iowa22
Idaho8
Illinois142
Indiana50
Kansas31
Kentucky14
Louisiana29
Massachusetts96
Maryland71
Maine11
Michigan76
Minnesota72
Missouri65
Mississippi8
Montana21
North Carolina82
North Dakota6
Nebraska11
New Hampshire14
New Jersey93
New Mexico40
Nevada30
New York336
Ohio85
Oklahoma18
Oregon57
Pennsylvania111
Rhode Island16
South Carolina24
South Dakota3
Tennessee40
Texas179
Utah32
Virginia86
Vermont21
Washington93
Wisconsin50
West Virginia12
Wyoming6
International4
Total3,170

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