Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $2,214,281

• 1f · All other contributions, gifts and grants

  $34,262

• 1g · Noncash contributions included above

  $34,262

• 2a · Program service revenue: TELECAST EVENT INCOME

  total $58,168,939 · related or exempt $58,168,939

• 2b · Program service revenue: SPONSORSHIP INCOME

  total $16,528,224 · excluded $16,528,224

• 2c · Program service revenue: GRAMMY TICKET SALES

  total $10,892,613 · related or exempt $10,892,613

• 2d · Program service revenue: PUBLICATION INCOME

  total $381,017 · related or exempt $381,017

• 2e · Program service revenue: NARAS RELATED EVENTS

  total $175,107 · related or exempt $175,107

• 3 · Investment income

  total $7,167,159 · unrelated business -$57,247 · excluded $7,224,406

• 5 · Royalties

  total $2,304,710 · unrelated business $77,150 · excluded $2,227,560

• 7a · Gross sales of assets other than inventory

  securities $7,269,128

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

  securities $6,016,629

• 7c · Gain or loss

  securities $1,252,499

• 7d · Net gain or loss

  total $1,252,499 · excluded $1,252,499

• 11a · Other revenue: GGV BUSINESS PLANS

  total $3,750,242 · related or exempt $3,750,242

• 11b · Other revenue: AWARDS ENTRY FEES

  total $1,133,370 · related or exempt $1,133,370

• 11c · Other revenue: CERTIFICATES

  total $377,519 · related or exempt $377,519

• 11d · All other revenue

  total $208,459 · related or exempt $208,459

• 11e · Other revenue, total

  $5,469,590

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $6,082,203

• 2 · Grants to domestic individuals

  total $85,000

• 5 · Compensation of officers, directors and key employees

  total $5,991,657

• 7 · Other salaries and wages

  total $19,545,809

• 8 · Pension plan contributions

  total $986,136

• 9 · Other employee benefits

  total $3,241,828

• 10 · Payroll taxes

  total $1,817,467

• 11b · Fees: legal

  total $3,015,837

• 11c · Fees: accounting

  total $488,449

• 11d · Fees: lobbying

  total $152,969

• 11f · Fees: investment management

  total $615,495

• 11g · Fees: other

  total $7,159,974

• 12 · Advertising and promotion

  total $1,243,500

• 13 · Office expenses

  total $2,315,517

• 14 · Information technology

  total $5,000,579

• 16 · Occupancy

  total $6,101,110

• 17 · Travel

  total $2,468,338

• 19 · Conferences, conventions and meetings

  total $589,011

• 20 · Interest

  total $1,015,254

• 22 · Depreciation, depletion and amortization

  total $544,741

• 23 · Insurance

  total $832,597

• 24a · Other expenses: EVENT PRODUCTION

  total $28,967,366

• 24b · Other expenses: EVENT EXPENSES

  total $5,807,767

• 24e · All other expenses

  total $298,083

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $101,173 · end of year $1,250

• 2 · Savings and temporary cash investments

  beginning of year $5,328,763 · end of year $2,644,362

• 4 · Accounts receivable

  beginning of year $3,378,725 · end of year $4,882,762

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,461,297 · end of year $3,424,323

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

  $12,008,573

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

  $11,371,344

• 10c · Land, buildings and equipment, net

  beginning of year $1,435,010 · end of year $637,229

• 11 · Investments: publicly traded securities

  beginning of year $112,529,059 · end of year $103,283,876

• 12 · Investments: other securities

  end of year $19,323,214

• 15 · Other assets

  beginning of year $5,376,507 · end of year $5,721,723

• 17 · Accounts payable and accrued expenses

  beginning of year $10,825,784 · end of year $7,189,216

• 19 · Deferred revenue

  beginning of year $24,776,490 · end of year $28,237,497

• 23 · Secured mortgages and notes payable

  beginning of year $8,347,868 · end of year $10,752,122

• 25 · Other liabilities

  beginning of year $4,919,301 · end of year $9,946,100

• 27 · Net assets without donor restrictions

  beginning of year $80,741,091 · end of year $83,793,804

The filer's explanations (Part III)

PART I, LINE 1A

THE RECORDING ACADEMY HAS A WRITTEN POLICY REGARDING THE CIRCUMSTANCES IN WHICH FIRST CLASS TRAVEL MAY BE USED. THE ORGANIZATION MAKES IT A PRACTICE TO ROUTINELY USE COACH OR BUSINESS CLASS AIRLINE TRAVEL. THE PRESIDENT/CEO AND ELECTED OFFICERS ARE PERMITTED TO FLY FIRST CLASS, ALTHOUGH THEY ARE ENCOURAGED TO FLY BUSINESS CLASS, IF AVAILABLE, PRIOR TO BOOKING IN FIRST CLASS. FURTHER, THESE INDIVIDUALS ARE ALSO ENCOURAGED TO USE COACH CLASS TRAVEL FOR VERY SHORT TRIPS. OTHER MEMBERS OF SENIOR MANAGEMENT (MANAGING DIRECTORS AND ABOVE) ARE ONLY ALLOWED TO FLY BUSINESS OR FIRST CLASS IF THE FLIGHT IS OVER TWO HOURS IN DURATION. FOR INTERNATIONAL TRAVEL, THE FIRST CHOICE IS BUSINESS CLASS AND THE SECOND CHOICE IS FIRST CLASS FOR ALL MEMBERS OF SENIOR MANAGEMENT (MANAGING DIRECTORS AND ABOVE). THE BOARD OF TRUSTEES MEMBERS ARE OFFERED THE OPPORTUNITY TO FLY FIRST CLASS OR BUSINESS CLASS FOR THE IN-PERSON BOARD MEETINGS EACH YEAR. THIS BENEFIT IS NOT TREATED AS TAXABLE COMPENSATION. CERTAIN MEMBERS OF MANAGEMENT, VICE PRESIDENTS AND HIGHER, ARE ACCOMODATED WITH MEMBERSHIPS TO SOHO HOUSE, A SOCIAL CLUB FOR MEMBERS OF THE CREATIVE COMMUNITY. THIS BENEFIT IS NOT TREATED AS TAXABLE COMPENSATION.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• GRAMMY GLOBAL VENTURES

  GLOBAL OUTREACH AND MUSIC EDUCATION · DE · income $3,725,343 · assets $25,879

  Directly controlled by NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES INC