Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ROYALTY COLLECTION

  total $54,933,479 · related or exempt $54,933,479

• 2b · Program service revenue: UNCLAIMED FUNDS

  total $11,780,045 · related or exempt $11,780,045

• 2c · Program service revenue: BAD DEBT RECOVERY

  total $2,545,150 · related or exempt $2,545,150

• 2d · Program service revenue: COST RECOVERY FEES

  total $1,276,411 · related or exempt $1,276,411

• 3 · Investment income

  total $7,152,648 · unrelated business $156,375 · excluded $6,996,273

• 6a · Gross rents

  real property $35,536

• 6b · Less rental expenses

  real property $35,536

• 6c · Rental income or loss

  real property $0

• 6d · Net rental income or loss

  total $0

• 11a · Other revenue: REIMBURSED SVCS INCOME

  total $1,935,044 · related or exempt $1,847,829 · unrelated business $87,215

• 11b · Other revenue: PLATFORM FEE

  total $400,000 · unrelated business $400,000

• 11c · Other revenue: MISCELLANEOUS INCOME

  total $60 · related or exempt $60

• 11e · Other revenue, total

  $2,335,104

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $4,282,356

• 7 · Other salaries and wages

  total $23,442,202

• 8 · Pension plan contributions

  total $1,071,543

• 9 · Other employee benefits

  total $1,918,711

• 10 · Payroll taxes

  total $1,854,914

• 11b · Fees: legal

  total $1,848,869

• 11c · Fees: accounting

  total $323,049

• 11d · Fees: lobbying

  total $276,000

• 11f · Fees: investment management

  total $654,912

• 11g · Fees: other

  total $4,615,911

• 12 · Advertising and promotion

  total $214,761

• 13 · Office expenses

  total $552,053

• 14 · Information technology

  total $10,387,970

• 16 · Occupancy

  total $3,440,196

• 17 · Travel

  total $806,370

• 19 · Conferences, conventions and meetings

  total $689,038

• 20 · Interest

  total $156,375

• 22 · Depreciation, depletion and amortization

  total $13,199,776

• 23 · Insurance

  total $808,902

• 24a · Other expenses: BAD DEBT EXPENSE

  total $2,545,150

• 24b · Other expenses: MISCELLANEOUS

  total $2,097,129

• 24c · Other expenses: COST RECOVERY

  total $1,276,411

• 24d · Other expenses: BANK FEES

  total $272,892

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $7,531,144 · end of year $10,234,719

• 2 · Savings and temporary cash investments

  beginning of year $48,931,048 · end of year $44,992,204

• 4 · Accounts receivable

  beginning of year $154,834,316 · end of year $145,021,518

• 7 · Other notes and loans receivable

  beginning of year $16,622,003 · end of year $14,326,685

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,459,675 · end of year $1,595,537

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

  $53,327,917

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

  $31,400,239

• 10c · Land, buildings and equipment, net

  beginning of year $17,409,343 · end of year $21,927,678

• 11 · Investments: publicly traded securities

  beginning of year $449,087,729 · end of year $469,398,862

• 15 · Other assets

  beginning of year $43,471,598 · end of year $55,219,940

• 17 · Accounts payable and accrued expenses

  beginning of year $12,839,138 · end of year $13,087,997

• 19 · Deferred revenue

  beginning of year $21,268,428 · end of year $21,301,032

• 25 · Other liabilities

  beginning of year $658,654,906 · end of year $679,010,160

• 27 · Net assets without donor restrictions

  beginning of year $46,584,384 · end of year $49,317,954

The filer's explanations (Part III)

SCHEDULE J PART I, LINE 1A:

OUR POLICY IS NOT TO PROVIDE FOR FIRST CLASS TRAVEL, HOWEVER BASED ON EXTENUATING CIRCUMSTANCES WE DID PERMIT SUCH TRAVEL FOR A FEW INSTANCES IN 2022. OUR PRESIDENT AND CEO IS PERMITTED SPOUSAL COMPANION TRAVEL REIMBURSEMENT FOR REASONABLE TRAVEL COSTS ANNUALLY. WHERE APPLICABLE, FIRST CLASS TAVEL AND SPOUSAL COMPANION TRAVEL WAS INCUDED AS A TAXABLE BENEFIT, AND THE TAX ON THESE AMOUNTS WERE GROSSED UP FOR EMPLOYEES. WHERE APPLICABLE, THE TAX ON SHORT-TERM AND LONG-TERM DISABILITY IS GROSSED UP FOR EMPLOYEES.

SCHEDULE J PART I, LINE 4A:

AS PART OF A SEVERANCE AGREEMENT, THE EXECUTIVE RECEIVED THE BELOW INDICATED AMOUNT IN 2022. NAME: SCOTT D. DAY AMOUNT: $197,663

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• SOUNDEXCHANGE ENTERPRISES INC

  C · VAR MUSIC ADM SVC · DE · 100% owned · share of income $160,038 · share of assets $25,803,305 · controlled entity

  Directly controlled by SOUNDEXCHANGE

• SX WORKS LLC

  C · SEE PART VII · DE · 100% owned · share of income $13,978 · share of assets $23,011,930 · controlled entity

  Directly controlled by SX ENTERPRISES

• CMRRA LTD

  C · SEE PART VII · CA · 100% owned · share of income $10,751,909 · share of assets $78,115,665 · controlled entity

  Directly controlled by SX WORKS