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Nonprofiteer
← SOUNDWAVES ART FOUNDATION

Form 990 for tax year 2023

Filed by SOUNDWAVES ART FOUNDATION.

Totals

Total revenue
$3,317,605
Total expenses
$2,659,182
Contributions and grants received
$0
Grants paid
$1,371,037
Program service revenue
$0
Investment income
$0
Other revenue
$3,317,605
Total assets, end of year
$2,722,288
Total liabilities, end of year
$50,416
Net assets or fund balances, end of year
$2,671,872
Program services expenses (Part IX)
$2,474,339
Management and general expenses
$171,962
Fundraising expenses
$12,881
Program service expenses (Part III)
$2,474,339

Program services were 93.0% 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.

  • 3 · Investment income

    total $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $4,128,261

  • 10b · Cost of goods sold

    $810,656

  • 10c · Net income from sales of inventory

    total $3,317,605 · related or exempt $3,317,605

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,371,037 · program services $1,371,037

  • 5 · Compensation of officers, directors and key employees

    total $391,342 · program services $352,208 · management and general $35,221 · fundraising $3,913

  • 7 · Other salaries and wages

    total $260,102 · program services $234,092 · management and general $23,409 · fundraising $2,601

  • 9 · Other employee benefits

    total $23,504 · program services $21,154 · management and general $2,115 · fundraising $235

  • 10 · Payroll taxes

    total $38,282 · program services $34,454 · management and general $3,445 · fundraising $383

  • 11c · Fees: accounting

    total $23,739 · program services $4,748 · management and general $18,753 · fundraising $238

  • 11g · Fees: other

    total $279,422 · program services $251,480 · management and general $25,148 · fundraising $2,794

  • 12 · Advertising and promotion

    total $10,444 · program services $9,399 · management and general $941 · fundraising $104

  • 13 · Office expenses

    total $44,010 · program services $8,802 · management and general $34,768 · fundraising $440

  • 14 · Information technology

    total $12,293 · program services $2,459 · management and general $9,711 · fundraising $123

  • 16 · Occupancy

    total $134,388 · program services $120,949 · management and general $12,095 · fundraising $1,344

  • 17 · Travel

    total $22,082 · program services $19,874 · management and general $1,987 · fundraising $221

  • 19 · Conferences, conventions and meetings

    total $9,841 · program services $8,857 · management and general $886 · fundraising $98

  • 22 · Depreciation, depletion and amortization

    total $38,696 · program services $34,826 · management and general $3,483 · fundraising $387

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,685,600 · end of year $2,394,511

  • 8 · Inventories for sale or use

    beginning of year $42,247 · end of year $46,277

  • 10a · Land, buildings and equipment: cost or other basis

    $375,187

  • 10b · Land, buildings and equipment: accumulated depreciation

    $93,687

  • 10c · Land, buildings and equipment, net

    beginning of year $266,240 · end of year $281,500

  • 17 · Accounts payable and accrued expenses

    beginning of year $55,373 · end of year $50,416

  • 27 · Net assets without donor restrictions

    beginning of year $1,938,714 · end of year $2,671,872

Mission and programs · 2023

Mission

WE ARE A PHILANTHROPIC FOUNDATION THAT MAKES ORIGINAL PIECES OF ART BY CAPTURING THE DIGITAL HEARTBEAT OF SOME OF THE WORLDS MOST ICONIC MUSIC. 100% OF OUR PROFITS GO TO CHARITIES FOCUSING ON SOCIAL JUSTICE, THE ENVIRONMENT, DISASTER RELIEF, MUSIC EDUCATION, AND MENTAL HEALTH.

  • ART MADE FROM SOUND WAVES, SIGNED AND SOLD TO BENEFIT CHARITIES AROUND THE WORLD.

    Expenses $2,474,339 · Grants $1,371,037 · Revenue $3,317,605

As filed on the 2023 return.

Listed in Part VII

  • Timothy Wakefield

    FOUNDER/ARTIST

    Total calculated
    $339,147
    From this org
    $332,525
    From related orgs
    $0
    Other
    $6,622
    Hours/week
    70

    Schedule J breakdown matched by us

    Base
    $332,525
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,622
    Filer's total
    $339,147

  • Ed Bailey

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Nina Miller

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Sharon Wakefield

    TREASURER

    Total calculated
    $52,198
    From this org
    $44,028
    From related orgs
    $0
    Other
    $8,170
    Hours/week
    20

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
15 October 2024
IRS schema version
2023v5.1
Source object
202412899349302231

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

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