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← ASCAP FOUNDATION

Form 990 for tax year 2022

Filed by ASCAP FOUNDATION.

Totals

Total revenue
$1,913,648
Total expenses
$1,324,923
Contributions and grants received
$1,309,988
Grants paid
$484,056
Program service revenue
$0
Investment income
$435,645
Other revenue
$168,015
Total assets, end of year
$10,632,719
Total liabilities, end of year
$68,851
Net assets or fund balances, end of year
$10,563,868
Program services expenses (Part IX)
$953,576
Management and general expenses
$112,232
Fundraising expenses
$259,115
Program service expenses (Part III)
$953,576

Program services were 72.0% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $59,065

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $1,250,923

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $365,651 · related or exempt $0 · unrelated business $0 · excluded $365,651

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $168,015 · related or exempt $0 · unrelated business $0 · excluded $168,015

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $400,553 · other assets $0

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

    securities $330,559 · other assets $0

  • 7c · Gain or loss

    securities $69,994 · other assets $0

  • 7d · Net gain or loss

    total $69,994 · related or exempt $0 · unrelated business $0 · excluded $69,994

  • 8a · Fundraising events: gross income

    $14,444

  • 8a · Fundraising events: contributions included on line 1c

    $44,621

  • 8b · Fundraising events: direct expenses

    $14,444

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $168,006 · program services $168,006

  • 2 · Grants to domestic individuals

    total $316,050 · program services $316,050

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $17,800 · program services $0 · management and general $17,800 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $37,211 · program services $27,908 · management and general $9,303 · fundraising $0

  • 11g · Fees: other

    total $60,000 · program services $30,000 · management and general $15,000 · fundraising $15,000

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $21,759 · program services $2,604 · management and general $1,343 · fundraising $17,812

  • 14 · Information technology

    total $16,010 · program services $181 · management and general $181 · fundraising $15,648

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $9,670 · program services $8,539 · management and general $529 · fundraising $602

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Allocated compensation

    total $515,547 · program services $261,392 · management and general $68,076 · fundraising $186,079

  • 24b · Other expenses: Mentors; instructors; judges; demo fees; commissions

    total $126,112 · program services $126,112 · management and general $0 · fundraising $0

  • 24c · Other expenses: Credit card / processing fees

    total $19,323 · program services $0 · management and general $0 · fundraising $19,323

  • 24d · Other expenses: Miscellaneous / other expenses

    total $17,435 · program services $12,784 · management and general $0 · fundraising $4,651

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $1,008,282 · end of year $1,200,968

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $19,922 · end of year $43,042

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,395 · end of year $2,120

  • 10c · Land, buildings and equipment, net

    beginning of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $11,282,690 · end of year $9,386,589

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $47,072 · end of year $62,851

  • 18 · Grants payable

    beginning of year $0 · end of year $5,500

  • 19 · Deferred revenue

    beginning of year $500 · end of year $500

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $4,997,702 · end of year $3,266,976

  • 28 · Net assets with donor restrictions

    beginning of year $7,268,015 · end of year $7,296,892

Mission and programs · 2022

Mission

The ASCAP Foundation is dedicated to nurturing the music talent of tomorrow, preserving the legacy of the past and sustaining the creative incentive for today's music creators through a variety of educational, professional and humanitarian programs and activities that serve the entire music community.

Activities or mission (Part I)

The ASCAP Foundation is dedicated to supporting American music creators and encouraging their development through music education and talent development programs including Songwriting workshops, scholarships, awards, community outreach and grants to other 501(c)(3) organizations for music education.

  • SCHOLARSHIPS, FELLOWSHIPS, AWARDS AND COMPOSER PROGRAMS: The ASCAP Foundation scholarship programs seek to ensure that opportunities for the study of music and instruments, songwriting, music composition, the business of music and related areas are available to students at all levels by providing Scholarships and Fellowships to 54 recipients ranging from $1,000 to $10,000. The ASCAP Foundation provides awards to emerging composers and songwriters consisting of cash awards to 103 recipients of composer and / or lyricist programs. These awards range from $125 to $10,000.

    Expenses $511,072 · Grants $316,050

  • MUSIC EDUCATION AND COMMUNITY OUTREACH: The ASCAP Foundation is dedicated to nurturing the music talent of tomorrow by developing and supporting educational programs that provide effective learning opportunities consistent with our mission to students of all ages. The ASCAP Foundation has provided funding to sponsor 16 Music Education and / or Music Development programs throughout the year with the goal of enhancing and promoting music education and providing the community with access to music and its history. These 16 programs included 10 that received $5,000 or more in funding and 3 programs that received less than $5,000.

    Expenses $295,294 · Grants $96,455

  • TALENT DEVELOPMENT: The ASCAP Foundation Talent Development programs provide aid and encouragement to music creators nationally who are in various stages of their careers including, Workshops (9); Commissions and / or Commissioning programs (3); and sponsorship of talent development programs, (12). By providing professional opportunities to emerging composers, lyricists and songwriters, The ASCAP Foundation supports their careers and promotes their works. Some of our workshops were unable to be held in 2022 due to in person protocols.

    Expenses $119,454 · Grants $57,551

  • Other program services include 3 humanitarian programs that includes music therapy programs for veterans with PTSD; Aphasia patients; students on the autism spectrum and other program support expenses.

    Expenses $27,756 · Grants $14,000

As filed on the 2022 return.

Listed in Part VII

  • Joan Hill

    Director of Finance and Administration

    Total calculated
    $193,405
    From this org
    $0
    From related orgs
    $173,625
    Other
    $19,780
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $161,660 related
    Bonus
    $0 + $9,075 related
    Other
    $0 + $2,890 related
    Deferred
    $0 + $19,440 related
    Nontaxable benefits
    $0 + $340 related
    Filer's total
    $0 + $193,405 related

  • Heather Lynn

    Sr. Director, Development & Fundraising-3/21/22

    Total calculated
    $133,727
    From this org
    $0
    From related orgs
    $126,128
    Other
    $7,599
    Hours/week
    35

  • Paul Williams

    President

    Total calculated
    $0
    Hours/week
    0.5

  • Irwin Robinson

    Vice President

    Total calculated
    $0
    Hours/week
    0.25

  • Dean Kay

    Treasurer

    Total calculated
    $0
    Hours/week
    0.25

  • Charles Bernstein

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Bruce Broughton

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Tita Cahn

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Desmond Child

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Dan Foliart

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • James Kendrick

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Robert Kimball

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Tania Leon

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Michelle Lewis

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • James McBride

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Roger McNulty

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Marcus Miller

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Betsy Perez

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Michael Price

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Geoffry Sargeant

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Stephen Schwartz

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Alex Shapiro

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Valerie Simpson

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Doug Wood

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Nicole George-Middleton

    Executive Director

    Total calculated
    $0
    Hours/week
    10 + 35 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part II
B - (ii) - Bonus for individual listed on Schedule J is based on meeting of established goals.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

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

  • ASCAP

    C · Music Licensing · NY · 0% owned

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2023
IRS schema version
2022v5.0
Source object
202331359349301048

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