Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $20,716,500

• 1f · All other contributions, gifts and grants

  $808,750

• 2a · Program service revenue: SERVICE TO MUSIC

  total $121,843 · related or exempt $121,843

• 2b · Program service revenue: KENILWORTH - ECONOMIC DEVELOPMENT

  total $85,250 · related or exempt $85,250

• 3 · Investment income

  total $101,790 · excluded $101,790

• 7a · Gross sales of assets other than inventory

  securities $281,986

• 7b · Less cost or other basis and sales expenses

  securities $300,048

• 7c · Gain or loss

  securities -$18,062

• 7d · Net gain or loss

  total -$18,062 · excluded -$18,062

• 11a · Other revenue: MISC. INCOME

  total $90,736 · excluded $90,736

• 11e · Other revenue, total

  $90,736

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $20,322,500 · program services $20,322,500

• 5 · Compensation of officers, directors and key employees

  total $552,357 · program services $441,885 · management and general $110,472

• 7 · Other salaries and wages

  total $346,334 · program services $277,067 · management and general $69,267

• 8 · Pension plan contributions

  total $29,330 · program services $23,464 · management and general $5,866

• 9 · Other employee benefits

  total $68,836 · program services $55,069 · management and general $13,767

• 10 · Payroll taxes

  total $55,592 · program services $44,474 · management and general $11,118

• 11b · Fees: legal

  total $81,517 · management and general $81,517

• 11c · Fees: accounting

  total $19,975 · program services $9,588 · management and general $10,387

• 11f · Fees: investment management

  total $4,263 · management and general $4,263

• 11g · Fees: other

  total $5,351 · management and general $5,351

• 13 · Office expenses

  total $3,118 · program services $2,486 · management and general $632

• 16 · Occupancy

  total $74,923 · program services $33,937 · management and general $40,986

• 17 · Travel

  total $35 · management and general $35

• 19 · Conferences, conventions and meetings

  total $50,670 · program services $40,536 · management and general $10,134

• 22 · Depreciation, depletion and amortization

  total $15,282 · program services $12,226 · management and general $3,056

• 23 · Insurance

  total $1,338 · program services $1,070 · management and general $268

• 24a · Other expenses: ECONOMIC DEVELOPMENT EX

  total $242,025 · program services $227,721 · management and general $14,304

• 24b · Other expenses: DUES AND SUBSCRIPTIONS

  total $3,105 · program services $2,484 · management and general $621

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $110,315 · end of year $41,506

• 2 · Savings and temporary cash investments

  beginning of year $2,837,858 · end of year $776,984

• 3 · Pledges and grants receivable

  beginning of year $31,250 · end of year $0

• 4 · Accounts receivable

  beginning of year $5,000 · end of year $48,750

• 7 · Other notes and loans receivable

  end of year $1,200,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,663 · end of year $6,614

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

  $76,410

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

  $59,532

• 10c · Land, buildings and equipment, net

  beginning of year $32,160 · end of year $16,878

• 11 · Investments: publicly traded securities

  beginning of year $1,415,984 · end of year $1,540,274

• 15 · Other assets

  beginning of year $10,000 · end of year $1,035,000

• 17 · Accounts payable and accrued expenses

  beginning of year $10,711 · end of year $85,080

• 25 · Other liabilities

  beginning of year $10,000 · end of year $10,000

• 27 · Net assets without donor restrictions

  beginning of year $3,273,183 · end of year $3,737,522

• 28 · Net assets with donor restrictions

  beginning of year $1,150,336 · end of year $833,404

The filer's explanations (Part III)

PART I, LINE 5

BONUSES PAID BASED ON CERTAIN PROGRAM REVENUES.