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Nonprofiteer
← BMI FOUNDATION INC

Form 990 for tax year 2022

Filed by BMI FOUNDATION INC.

Totals

Total revenue
$392,464
Total expenses
$394,852
Contributions and grants received
$338,285
Grants paid
$239,163
Program service revenue
$0
Investment income
$54,179
Other revenue
$0
Total assets, end of year
$2,672,117
Total liabilities, end of year
$93,413
Net assets or fund balances, end of year
$2,578,704
Program services expenses (Part IX)
$250,314
Management and general expenses
$144,538
Fundraising expenses
$0
Program service expenses (Part III)
$250,314

Program services were 63.4% 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

    $338,285

  • 3 · Investment income

    total $53,531 · excluded $53,531

  • 7a · Gross sales of assets other than inventory

    securities $75,000

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

    securities $74,352

  • 7c · Gain or loss

    securities $648

  • 7d · Net gain or loss

    total $648 · excluded $648

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $135,663 · program services $135,663

  • 2 · Grants to domestic individuals

    total $103,500 · program services $103,500

  • 7 · Other salaries and wages

    total $87,458 · management and general $87,458

  • 10 · Payroll taxes

    total $7,788 · management and general $7,788

  • 11b · Fees: legal

    total $331 · management and general $331

  • 11c · Fees: accounting

    total $10,000 · management and general $10,000

  • 11g · Fees: other

    total $6,500 · management and general $6,500

  • 12 · Advertising and promotion

    total $2,800 · program services $2,800

  • 13 · Office expenses

    total $11,927 · management and general $11,927

  • 16 · Occupancy

    total $8,073 · management and general $8,073

  • 17 · Travel

    total $9,373 · management and general $9,373

  • 23 · Insurance

    total $1,449 · management and general $1,449

  • 24a · Other expenses: GIFTS AND AWARDS

    total $8,351 · program services $8,351

  • 24b · Other expenses: BANK FEES

    total $1,639 · management and general $1,639

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $84,145 · end of year $91,741

  • 11 · Investments: publicly traded securities

    beginning of year $3,158,202 · end of year $2,580,376

  • 18 · Grants payable

    beginning of year $104,250 · end of year $93,413

  • 27 · Net assets without donor restrictions

    beginning of year $1,058,928 · end of year $422,298

  • 28 · Net assets with donor restrictions

    beginning of year $2,079,169 · end of year $2,156,406

Mission and programs · 2022

Mission

BMI FOUNDATION, INC. ISSUES GRANTS AFTER CONSIDERATION BY AN ADVISORY PANEL TO ORGANIZATIONS AND INDIVIDUALS REQUESTING ASSISTANCE FOR MUSIC-RELATED ACTIVITIES.

Activities or mission (Part I)

THE FOUNDATION ISSUES GRANTS TO INDIVIDUALS AND ORGANIZATIONS IN MUSIC FIELDS.

  • THE FOUNDATION PROVIDES GRANTS TO INDIVIDUALS AND ORGANIZATIONS IN THE FIELD OF MUSIC INCLUDING BUT NOT LIMITED TO EDUCATIONAL PROJECTS, THE PRESERVATION OF THE INDIGENOUS AMERICAN JAZZ AND BLUES FORMS, AND THE CREATION AND EXPOSURE TO AUDIENCES OF CONTEMPORARY MUSIC, PARTICULARLY IN THE AREAS OF CONCERT AND OPERATIC MUSIC, JAZZ, AND MUSICAL THEATRE.

    Expenses $250,314 · Grants $239,163

As filed on the 2022 return.

Listed in Part VII

  • Deirdre Chadwick

    PRESIDENT

    Total calculated
    $0
    Hours/week
    15

  • Samantha Cox

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Dan Coleman

    TREASURER

    Total calculated
    $0
    Hours/week
    10

  • Clay Bradley

    SECRETARY

    Total calculated
    $0
    Hours/week
    10

  • Corey Field

    TRUSTEE

    Total calculated
    $0
    Hours/week
    10

  • Pamela Williams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    10

  • Luciana Souza

    TRUSTEE

    Total calculated
    $0
    Hours/week
    10

  • Mike O'Neill

    HONORARY CHAIR

    Total calculated
    $0
    Hours/week
    10

  • William Wells

    TRUSTEE

    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

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202313189349314026

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