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Nonprofiteer
← SOUTHWEST FLORIDA MUSIC EDUCATION CENTER INC

Form 990 for tax year 2023

Filed by SOUTHWEST FLORIDA MUSIC EDUCATION CENTER INC.

Totals

Total revenue
$1,143,466
Total expenses
$2,558,055
Contributions and grants received
$156,622
Grants paid
$0
Program service revenue
$117,700
Investment income
$44,764
Other revenue
$824,380
Total assets, end of year
$15,108,862
Total liabilities, end of year
$9,630,576
Net assets or fund balances, end of year
$5,478,286
Program services expenses (Part IX)
$2,215,387
Management and general expenses
$302,764
Fundraising expenses
$39,904
Program service expenses (Part III)
$2,215,387

Program services were 86.6% 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

    $156,622

  • 2a · Program service revenue: Student Tuition and Fee

    total $117,700 · related or exempt $117,700

  • 3 · Investment income

    total $327 · excluded $327

  • 6a · Gross rents

    real property $451,655

  • 6c · Rental income or loss

    real property $451,655

  • 6d · Net rental income or loss

    total $451,655 · excluded $451,655

  • 7a · Gross sales of assets other than inventory

    securities $45,363

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

    other assets $926

  • 7c · Gain or loss

    securities $45,363 · other assets -$926

  • 7d · Net gain or loss

    total $44,437 · excluded $44,437

  • 8a · Fundraising events: gross income

    $393,992

  • 8b · Fundraising events: direct expenses

    $21,267

  • 8c · Net income from fundraising events

    total $372,725 · excluded $372,725

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $90,776 · program services $36,515 · management and general $36,515 · fundraising $17,746

  • 7 · Other salaries and wages

    total $160,707 · program services $97,904 · management and general $62,803

  • 10 · Payroll taxes

    total $19,836 · program services $10,921 · management and general $7,582 · fundraising $1,333

  • 11b · Fees: legal

    total $32,767 · program services $28,891 · management and general $3,101 · fundraising $775

  • 11c · Fees: accounting

    total $25,237 · program services $22,713 · management and general $2,019 · fundraising $505

  • 11g · Fees: other

    total $686 · program services $617 · management and general $55 · fundraising $14

  • 12 · Advertising and promotion

    total $38,764 · program services $31,011 · fundraising $7,753

  • 13 · Office expenses

    total $3,074 · program services $2,772 · management and general $242 · fundraising $60

  • 14 · Information technology

    total $7,936 · program services $7,050 · management and general $709 · fundraising $177

  • 16 · Occupancy

    total $126,981 · program services $114,382 · management and general $10,079 · fundraising $2,520

  • 17 · Travel

    total $1,404 · program services $1,264 · management and general $112 · fundraising $28

  • 22 · Depreciation, depletion and amortization

    total $417,949 · program services $376,154 · management and general $33,436 · fundraising $8,359

  • 23 · Insurance

    total $73,674 · program services $71,489 · management and general $1,748 · fundraising $437

  • 24a · Other expenses: FacilitiesBldg Renovation

    total $381,908 · program services $381,908

  • 24b · Other expenses: Contract Services

    total $80,000 · program services $80,000

  • 24c · Other expenses: Utilities

    total $163,969 · program services $163,660 · management and general $247 · fundraising $62

  • 24d · Other expenses: Bad Debt

    total $140,310 · management and general $140,310

  • 24e · All other expenses

    total $792,077 · program services $788,136 · management and general $3,806 · fundraising $135

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $499,342 · end of year $2,713,666

  • 2 · Savings and temporary cash investments

    beginning of year $29,080

  • 3 · Pledges and grants receivable

    beginning of year $2,546,710

  • 9 · Prepaid expenses and deferred charges

    beginning of year $48,978 · end of year $16,791

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

    $10,644,117

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

    $579,978

  • 10c · Land, buildings and equipment, net

    beginning of year $10,483,013 · end of year $10,064,139

  • 15 · Other assets

    beginning of year $2,730,990 · end of year $2,314,266

  • 17 · Accounts payable and accrued expenses

    beginning of year $42,810 · end of year $98,446

  • 19 · Deferred revenue

    beginning of year $5,000

  • 23 · Secured mortgages and notes payable

    beginning of year $6,684,633 · end of year $7,240,262

  • 25 · Other liabilities

    beginning of year $2,712,795 · end of year $2,291,868

  • 27 · Net assets without donor restrictions

    beginning of year $3,885,603 · end of year $2,933,594

  • 28 · Net assets with donor restrictions

    beginning of year $3,007,272 · end of year $2,544,692

Mission and programs · 2023

Mission

Create a world-class music education center where neurodivergent students who have a strong interest in music and low to moderate support needs receive education in music and life skills, preparing them for meaningful growth opportunities that enrich their lives & the community.

  • Provide music education and training to students, and helping students put on recitals for the community.

    Expenses $2,215,387

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

Listed in Part VII

  • Jennifer Clark

    Executive Director

    Total calculated
    $91,287
    From this org
    $91,287
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Susan Stielow

    Director

    Total calculated
    $0
    Hours/week
    1

  • Rose Marie Van Otterloo

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jerry Starkey

    TreasurerDirector

    Total calculated
    $0
    Hours/week
    10

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
5 February 2024
IRS schema version
2023v4.0
Source object
202440589349300309

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