Skip to content
Nonprofiteer
← SAVE OUR MUSICIANS FOUNDATION INC

Form 990 for tax year 2023

Filed by SAVE OUR MUSICIANS FOUNDATION INC.

Totals

Total revenue
$23,345,101
Total expenses
$16,507,925
Contributions and grants received
$22,609,900
Grants paid
$630,000
Program service revenue
$595,103
Investment income
$140,098
Other revenue
$0
Total assets, end of year
$10,100,260
Total liabilities, end of year
$3,271,471
Net assets or fund balances, end of year
$6,828,789
Program services expenses (Part IX)
$12,914,665
Management and general expenses
$506,109
Fundraising expenses
$3,087,151
Program service expenses (Part III)
$12,914,665

Program services were 78.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $22,609,900

  • 2a · Program service revenue: TICKET SALES

    total $595,103 · related or exempt $595,103

  • 3 · Investment income

    total $140,098 · excluded $140,098

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $630,000 · program services $630,000

  • 11b · Fees: legal

    total $40,288 · management and general $29,288 · fundraising $11,000

  • 11g · Fees: other

    total $12,508,286 · program services $9,970,056 · management and general $12,789 · fundraising $2,525,441

  • 12 · Advertising and promotion

    total $2,739,974 · program services $2,036,106 · management and general $194,841 · fundraising $509,027

  • 13 · Office expenses

    total $4,471 · management and general $4,471

  • 16 · Occupancy

    total $217,722 · program services $97,722 · management and general $120,000

  • 17 · Travel

    total $120,237 · program services $31,437 · management and general $80,941 · fundraising $7,859

  • 19 · Conferences, conventions and meetings

    total $28,781 · management and general $28,781

  • 23 · Insurance

    total $13,998 · program services $4,072 · management and general $8,908 · fundraising $1,018

  • 24a · Other expenses: EVENT CATERING

    total $149,126 · program services $119,301 · fundraising $29,825

  • 24b · Other expenses: OTHER PROGRAM

    total $40,996 · program services $11,925 · management and general $26,090 · fundraising $2,981

  • 24c · Other expenses: COMMISSIONS

    total $14,046 · program services $14,046

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $147,913 · end of year $15,860

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $2,311,604

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $5,000,000

  • 4 · Accounts receivable

    beginning of year $0 · end of year $88,461

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $138,666

  • 15 · Other assets

    beginning of year $0 · end of year $2,545,669

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $3,271,471

  • 25 · Other liabilities

    beginning of year $156,300 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$8,387 · end of year $6,828,789

Mission and programs · 2023

Mission

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.

  • 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.

    Expenses $11,729,702 · Grants $630,000 · Revenue $595,103

  • 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.

    Expenses $1,184,963

  • 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.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dennis Cunningham

    PRESIDENT/CEO

    Total calculated
    $0
    Hours/week
    1

  • Felicia Cunningham

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Christian Demers

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Bernie Carballo

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Robert Samuels

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
26 August 2024
IRS schema version
2023v5.1
Source object
202432509349300813

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.