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Nonprofiteer
← READING MUSICAL FOUNDATION

Form 990 for tax year 2022

Filed by READING MUSICAL FOUNDATION.

Totals

Total revenue
$1,734,772
Total expenses
$1,083,790
Contributions and grants received
$1,202,428
Grants paid
$718,431
Program service revenue
$2,700
Investment income
$525,823
Other revenue
$3,821
Total assets, end of year
$19,546,330
Total liabilities, end of year
$403,590
Net assets or fund balances, end of year
$19,142,740
Program services expenses (Part IX)
$929,366
Management and general expenses
$98,892
Fundraising expenses
$55,532
Program service expenses (Part III)
$929,366

Program services were 85.8% 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.

  • 1e · Government grants (contributions)

    $13,000

  • 1f · All other contributions, gifts and grants

    $1,189,428

  • 1g · Noncash contributions included above

    $21,831

  • 2a · Program service revenue: MUSIC IN SCHOOLS

    total $2,700 · related or exempt $2,700

  • 3 · Investment income

    total $493,352 · excluded $493,352

  • 7a · Gross sales of assets other than inventory

    securities $711,962

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

    securities $679,491

  • 7c · Gain or loss

    securities $32,471

  • 7d · Net gain or loss

    total $32,471 · excluded $32,471

  • 8a · Fundraising events: gross income

    $4,985

  • 8b · Fundraising events: direct expenses

    $13,811

  • 8c · Net income from fundraising events

    total -$8,826 · excluded -$8,826

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $12,647 · excluded $12,647

  • 11e · Other revenue, total

    $12,647

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $479,529 · program services $479,529

  • 2 · Grants to domestic individuals

    total $238,902 · program services $238,902

  • 5 · Compensation of officers, directors and key employees

    total $87,283 · program services $56,505 · management and general $22,108 · fundraising $8,670

  • 7 · Other salaries and wages

    total $96,845 · program services $58,107 · management and general $29,053 · fundraising $9,685

  • 8 · Pension plan contributions

    total $2,612 · program services $1,436 · management and general $980 · fundraising $196

  • 10 · Payroll taxes

    total $13,145 · program services $7,230 · management and general $4,929 · fundraising $986

  • 11c · Fees: accounting

    total $14,020 · program services $8,412 · management and general $5,608

  • 11f · Fees: investment management

    total $33,576 · program services $11,584 · management and general $21,992

  • 12 · Advertising and promotion

    total $13,412 · program services $10,543 · fundraising $2,869

  • 13 · Office expenses

    total $55,963 · program services $34,131 · management and general $9,748 · fundraising $12,084

  • 14 · Information technology

    total $8,811 · program services $5,287 · management and general $1,762 · fundraising $1,762

  • 16 · Occupancy

    total $18,083 · program services $12,659 · management and general $2,712 · fundraising $2,712

  • 22 · Depreciation, depletion and amortization

    total $2,278 · program services $2,278

  • 24a · Other expenses: CAMPAIGN EXPENSE

    total $16,568 · fundraising $16,568

  • 24b · Other expenses: MUSIC ADVOCACY

    total $2,763 · program services $2,763

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $85,238 · end of year $152,896

  • 2 · Savings and temporary cash investments

    beginning of year $38,804 · end of year $69,214

  • 3 · Pledges and grants receivable

    beginning of year $109,531 · end of year $86,190

  • 4 · Accounts receivable

    beginning of year $750 · end of year $2,900

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

    $44,682

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

    $39,007

  • 10c · Land, buildings and equipment, net

    beginning of year $842 · end of year $5,675

  • 11 · Investments: publicly traded securities

    beginning of year $13,555,586 · end of year $15,194,060

  • 15 · Other assets

    beginning of year $3,847,400 · end of year $4,035,395

  • 17 · Accounts payable and accrued expenses

    beginning of year $59,150 · end of year $78,636

  • 18 · Grants payable

    beginning of year $299,891 · end of year $324,954

  • 27 · Net assets without donor restrictions

    beginning of year $8,996,806 · end of year $10,259,200

  • 28 · Net assets with donor restrictions

    beginning of year $8,282,304 · end of year $8,883,540

Mission and programs · 2022

Mission

TO ADVANCE AND ADVOCATE FOR MUSIC EDUCATION AND APPRECIATION IN BERKS COUNTY.

  • STUDENT SCHOLARSHIPS - THE SCHOLARSHIP PROGRAM PROVIDES FINANCIAL ASSISTANCE FOR COMMITTED BERKS COUNTY MUSIC STUDENTS WHO AUDITION ON MERIT OR DEMONSTRATE A FINANCIAL NEED MERIT. SCHOLARSHIPS INCLUDE THE AREAS OF PIANO, ORGAN, WOODWIND, BRASS, PERCUSSION, STRING, HARP, GUITAR, VOCAL, AND AWARDS FOR COLLEGE TUITION. FINANCIAL NEED SCHOLARSHIPS INCLUDE SUMMER CAMP, PRIVATE MUSIC STUDY, AND INSTRUMENT UPGRADE REQUESTS.

    Expenses $238,901 · Grants $238,901

  • APPROPRIATIONS TO MUSIC PRESENTERS AND SPECIAL PROJECTS GRANTS ARE PROVIDED FOR CULTURAL DEVELOPMENT TO MUSIC PRESENTING ORGANIZATIONS THAT PERFORM PRIMARILY IN BERKS COUNTY. FUNDING SUPPORT WAS PROVIDED TO 24 MUSICAL ORGANIZATIONS AND PROGRAM GRANTS AWARDED BASED UPON THE ORGANIZATION/PROGRAM'S ABILITY TO RELATED TO THE MISSION OF THE READING MUSICAL FOUNDATION.

    Expenses $590,961 · Grants $390,034

  • MUSIC OUTREACH - MUSIC OUTREACH PROGRAMS SHARE THE MUSICAL EXPERIENCE WITH MEMBERS OF THE COMMUNITY WHO MAY NOT BE ABLE TO PAY FOR OR APPRECIATE WHY IT IS WORTH PAYING FOR PROGRAMS INCLUDING OPERATION REPLAY (INSTRUMENT RECYCLING), MUSIC IN THE SCHOOLS, AFTER-SCHOOL INSTRUCTIONAL PROGRAMS, WORKSHOPS AND MASTER CLASSES. RMF DEVOTED OVER 15 HOURS/WEEKLY OF AFTER-SCHOOL PROGRAMMING FROM SEPTEMBER 2022- MAY 2023.

    Expenses $99,504 · Grants $89,495 · Revenue $2,700

As filed on the 2022 return.

Listed in Part VII

  • Keri M Shultz

    PRESIDENT

    Total calculated
    $105,694
    From this org
    $83,407
    From related orgs
    $0
    Other
    $22,287
    Hours/week
    40

  • Paul G Oxholm

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Virginia Dodge

    VICE CHAIR OF DEVELOPMENT

    Total calculated
    $0
    Hours/week
    1

  • David L Kline

    VICE CHAIR OF DEVELOPMENT

    Total calculated
    $0
    Hours/week
    1

  • Lewis Freeman

    VICE CHAIR OF FINANCE

    Total calculated
    $0
    Hours/week
    2

  • Martha Aynardi

    VICE CHAIR OF PROGRAMS

    Total calculated
    $0
    Hours/week
    1

  • Srividya Ramanathan

    VICE CHAIR OF PROGRAMS

    Total calculated
    $0
    Hours/week
    1

  • Timothy Simmons

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Tim Haynes

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sandy Kern

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Jayne R Schaeffer CPA

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Fran Post

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Anderson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kent Gutzler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tahj Morales

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kim Webster

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jamie Thompson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Stephanie Kocher

    TRUSTEE

    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

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

Provenance

Return type
form_990
Tax year
2022
Filed
19 January 2024
IRS schema version
2022v5.0
Source object
202410319349300041

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

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