Record Company Inc in Boston, Massachusetts (MA)
Table of contents:
| Record Company Inc | |
| Employer Identification Number (EIN) | 271238513 |
| Name of Organization | Record Company Inc |
| In Care of Name | Matthew S McArthur |
| Address | 960 Massachusetts Avenue 3rd Floor, Boston, MA 02118 |
| Website | http://www.therecordco.org |
| Subsection | Charitable Organization, Educational Organization |
| Ruling Date | 03/2010 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 2009 |
| Assets | $100,000 to $499,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $315,615 |
| Amount of Income | $231,669 |
| Form 990 Revenue Amount | $231,511 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Music |
Non-representatives - add comments:
Amount of income in 2009: $231,669 (it was $196,730 in 2013)
| This organization: | $231,669 |
| Other organizations performing similar types of work: | $51,420 |
Assets in 2009: $315,615 (it was $276,962 in 2013)
| Record Company Inc: | $315,615 |
| Other organizations performing similar types of work: | $15,938 |
Expenses in 2013: $167,654
| Record Company Inc: | $167,654 |
| Other organizations performing similar types of work: | $45,736 |
Income to expenses ratio in 2013: 1.4
| This organization: | 1.4 |
| Other organizations performing similar types of work: | 1.0 |
Grants share in income in 2013: 46.9%
| This organization: | 46.9% |
| Other organizations performing similar types of work: | 5.6% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $127,897 | $158,250 | $196,730 |
| Contributions, gifts, grants, and similar amounts received | $113,482 | $82,071 | $92,177 |
| Program service revenue including government fees and contracts | $12,150 | $72,829 | $103,086 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $1,800 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $465 | $3,350 | $1,467 |
| Total expenses | $67,552 | $116,593 | $167,654 |
| Total net assets | $64,695 | $106,352 | $135,428 |
| Excess/Deficit for the year | $60,345 | $41,657 | $29,076 |
| Net assets or fund balances at beginning of year | $4,350 | $64,695 | $106,352 |
| Other changes in net assets or fund balances | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $64,695 | $106,352 | $135,428 |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $116,051 | $127,451 | $276,962 |
| Total liabilities | $51,356 | $21,099 | $141,534 |
| Net assets or fund balances | $64,695 | $106,352 | $135,428 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | No |
| Were any significant changes made to the organizing or governing documents? | No | No | No |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | No |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | No |
| Amount of political expenditures, direct or indirect | $0 | $0 | $0 |
| Did the organization file Form 1120-POL for this year? | No | No | No |
| 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? | Yes | No | No |
| Total amount involved | $17,950 | $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? | No | No | No |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | No |
| Reason for Public Charity Status (for 2013) | |
| 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 supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $437,457 |
| Subtotal | $459,597 |
| Gifts, grants, contributions, and membership fees received | $271,277 |
| 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 | $188,320 |
| 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 | $22,140 |
| Amounts received from disqualified persons | $22,140 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $459,597 |
| Public support | $459,597 |
| Subtotal | $0 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| 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 | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Newport Festivals Foundation Inc | PO BOX 650, Essex, MA 01929-0012 | MA | 2011-08 | $7,826,422 |
| 2 | Foulger International Music Festival | 68 Harvard Street, Brookline, MA 02445-7991 | MA | 2013-04 | $703,461 |
| 3 | Jazz Education Network | 350 Randolph Ave, Milton, MA 02186-4031 | MA | 2008-09 | $355,194 |
| 4 | Boston Jewish Music Festival Inc | 123 Gould St, Needham Hgts, MA 02494-2305 | MA | 2011-01 | $309,406 |
| 5 | Back Bay Chorale Ltd | PO BOX 170051, Boston, MA 02117-0061 | MA | 2014-08 | $235,467 |
| 6 | Record Company Inc | 960 Massachusetts Avenue 3rd Floor, Boston, MA 02118 | MA | 2010-03 | $231,669 |
| 7 | Worcester Chamber Music Society Inc | 11 Irving St, Worcester, MA 01609-3209 | MA | 2010-07 | $185,486 |
| 8 | New Amsterdam Presents Inc | One International Place, Boston, MA 02110-2602 | MA | 2011-07 | $181,887 |
| 9 | United Night Of Worship Inc | 304 Fellsway W, Medford, MA 02155-2646 | MA | 2010-10 | $130,374 |
| 10 | Fodfest | 28 S MAIN STREET PO BOX 1190, Sheffield, MA 01257 | MA | 2009-03 | $129,782 |
| 11 | Tunefoolery Music Inc | 85 East Newton Streeet 3rd Fl, Boston, MA 02118-2841 | MA | 2010-05 | $129,513 |
| 12 | The Lexington Chamber Music Center Inc | 8 Adams St, Lexington, MA 02420 | MA | 2013-03 | $88,294 |
| 13 | Shelter Music Boston Inc | 243 Sylvia Street, Arlington, MA 02476 | MA | 2011-04 | $79,803 |
| 14 | Winsor Music Incorporated | 30 University Rd, Brookline, MA 02445-4533 | MA | 1997-08 | $75,270 |
| 15 | Musack Inc | PO BOX 22, Nantucket, MA 02554-0022 | MA | 2013-01 | $74,887 |
| 16 | Boston String Academy Inc | 162 Boylston St Ste 69, Boston, MA 02116-4613 | MA | 2014-09 | $69,689 |
| 17 | Up With Music | 1213 Salem St, North Andover, MA 01845-4911 | MA | 2010-12 | $57,992 |
| 18 | Andover Community Music School | 41 Central St, Andover, MA 01810-3916 | MA | 2010-08 | $54,927 |
| 19 | Salem Jazz And Soul Festival Inc | 19 Harbor St Unit 6, Salem, MA 01970-5029 | MA | 2009-02 | $52,474 |
| 20 | Sounds Of Stow Inc | 70 Birch Hill Road, Stow, MA 01775 | MA | 2005-09 | $43,272 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 4,730 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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