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Nonprofiteer
← READING MUSICAL FOUNDATION

Form 990 for tax year 2024

Filed by READING MUSICAL FOUNDATION.

Totals

Total revenue
$1,519,550
Total expenses
$1,133,643
Contributions and grants received
$799,161
Grants paid
$725,784
Program service revenue
$800
Investment income
$713,652
Other revenue
$5,937
Total assets, end of year
$23,631,866
Total liabilities, end of year
$416,849
Net assets or fund balances, end of year
$23,215,017
Program services expenses (Part IX)
$944,747
Management and general expenses
$118,350
Fundraising expenses
$70,546
Program service expenses (Part III)
$944,747

Program services were 83.3% 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.

  • 1e · Government grants (contributions)

    $13,000

  • 1f · All other contributions, gifts and grants

    $786,161

  • 1g · Noncash contributions included above

    $12,200

  • 2a · Program service revenue: MUSIC IN SCHOOLS

    total $800 · related or exempt $800

  • 3 · Investment income

    total $687,252 · related or exempt $687,252

  • 7a · Gross sales of assets other than inventory

    securities $262,812

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

    securities $236,412

  • 7c · Gain or loss

    securities $26,400

  • 7d · Net gain or loss

    total $26,400 · excluded $26,400

  • 8a · Fundraising events: gross income

    $16,545

  • 8b · Fundraising events: direct expenses

    $10,608

  • 8c · Net income from fundraising events

    total $5,937 · excluded $5,937

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $462,934 · program services $462,934

  • 2 · Grants to domestic individuals

    total $262,850 · program services $262,850

  • 5 · Compensation of officers, directors and key employees

    total $91,068 · program services $58,962 · management and general $23,057 · fundraising $9,049

  • 7 · Other salaries and wages

    total $124,486 · program services $74,692 · management and general $37,345 · fundraising $12,449

  • 8 · Pension plan contributions

    total $3,254 · program services $1,789 · management and general $1,221 · fundraising $244

  • 10 · Payroll taxes

    total $15,164 · program services $8,341 · management and general $5,687 · fundraising $1,136

  • 11c · Fees: accounting

    total $20,045 · program services $12,027 · management and general $8,018

  • 11f · Fees: investment management

    total $42,570 · program services $14,687 · management and general $27,883

  • 12 · Advertising and promotion

    total $8,627 · program services $6,921 · fundraising $1,706

  • 13 · Office expenses

    total $37,760 · program services $17,365 · management and general $10,121 · fundraising $10,274

  • 14 · Information technology

    total $10,663 · program services $6,397 · management and general $2,133 · fundraising $2,133

  • 16 · Occupancy

    total $19,233 · program services $13,463 · management and general $2,885 · fundraising $2,885

  • 22 · Depreciation, depletion and amortization

    total $711 · program services $711

  • 24a · Other expenses: CAMPAIGN EXPENSE

    total $27,423 · program services $2,500 · fundraising $24,923

  • 24b · Other expenses: MISCELLANEOUS

    total $5,747 · fundraising $5,747

  • 24c · Other expenses: MUSIC ADVOCACY

    total $1,108 · program services $1,108

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $192,883 · end of year $121,740

  • 2 · Savings and temporary cash investments

    beginning of year $56,207 · end of year $36,650

  • 3 · Pledges and grants receivable

    beginning of year $39,048 · end of year $20,000

  • 4 · Accounts receivable

    beginning of year $2,568 · end of year $8,370

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

    $44,682

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

    $40,429

  • 10c · Land, buildings and equipment, net

    beginning of year $4,964 · end of year $4,253

  • 11 · Investments: publicly traded securities

    beginning of year $16,877,482 · end of year $18,689,490

  • 15 · Other assets

    beginning of year $4,466,000 · end of year $4,751,363

  • 17 · Accounts payable and accrued expenses

    beginning of year $111,208 · end of year $102,484

  • 18 · Grants payable

    beginning of year $310,215 · end of year $314,365

  • 27 · Net assets without donor restrictions

    beginning of year $11,298,477 · end of year $12,334,519

  • 28 · Net assets with donor restrictions

    beginning of year $9,919,252 · end of year $10,880,498

Mission and programs · 2024

Mission

TO ADVANCE AND ADVOCATE FOR MUSIC EDUCATION AND APPRECIATION IN BERKS COUNTY.

  • STUDENT SCHOLARSHIPS - THE SCHOLARSHIP PROGRAM PROVIDES FINANCIAL ASSISTANCE TO COMMITTED BERKS COUNTY MUSIC STUDENTS WHO AUDITION ON MERIT OR DEMONSTRATE FINANCIAL NEED. SCHOLARSHIPS ARE AVAILABLE FOR PIANO, ORGAN, WOODWIND, BRASS, PERCUSSION, STRING, HARP, GUITAR AND VOCAL STUDENTS, AS WELL AS AWARDS FOR COLLEGE TUITION. FINANCIAL NEED-BASED SCHOLARSHIPS SUPPORT SUMMER CAMP PARTICIPATION, PRIVATE MUSIC STUDY, AND INSTRUMENT UPGRADE REQUESTS.

    Expenses $262,849 · Grants $262,849

  • RMF PROVIDES GRANTS TO MUSIC-PRESENTING ORGANIZATIONS AND SPECIAL PROJECTS THAT STRENGTHEN BERKS COUNTY'S CULTURAL LIFE. FUNDING IS AWARDED BASED ON EACH ORGANIZATION'S ABILITY TO ADVANCE RMF'S MISSION OF INSPIRING, NURTURING, AND SUSTAINING A VIBRANT MUSICAL COMMUNITY. IN 2024, RMF SUPPORTED 24 LOCAL ENSEMBLES AND EDUCATIONAL INITIATIVES THROUGH PROGRAM GRANTS, UNDERWRITING PERFORMANCES, RESIDENCIES, AND MUSIC EDUCATION EXPERIENCES THROUGHOUT THE REGION.

    Expenses $582,692 · Grants $371,524

  • RMF SHARES THE MUSICAL EXPERIENCE WITH MEMBERS OF THE COMMUNITY WHO MAY NOT OTHERWISE HAVE ACCESS TO MUSIC EDUCATION OR PERFORMANCE OPPORTUNITIES. PROGRAMS INCLUDE OPERATION REPLAY (INSTRUMENT RECYCLING AND LOAN PROGRAM), MUSIC IN THE SCHOOLS ASSEMBLIES, AFTER-SCHOOL MUSIC INSTRUCTION IN READING AND OLIVET BOYS & GIRLS CLUBS, THE LATIN MUSIC AFTER-SCHOOL PROGRAM, AND THE DIGITAL MUSIC LAB INITIATIVE. COLLECTIVELY, RMF PROVIDES MORE THAN 15 HOURS PER WEEK OF FREE AFTER-SCHOOL MUSIC EDUCATION AND WORKSHOPS FOR K-12 STUDENTS FROM SEPTEMBER THROUGH MAY.

    Expenses $99,206 · Grants $91,411 · Revenue $800

As filed on the 2024 return.

Listed in Part VII

  • Keri M Shultz

    PRESIDENT

    Total calculated
    $117,818
    From this org
    $89,543
    From related orgs
    $0
    Other
    $28,275
    Hours/week
    40

  • Paul G Oxholm

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Fran Post

    VICE CHAIR OF DEVELOPMENT

    Total calculated
    $0
    Hours/week
    2

  • Martha Aynardi

    VICE CHAIR OF FINANCE

    Total calculated
    $0
    Hours/week
    2

  • Srividya Ramanathan

    VICE CHAIR OF PROGRAMS

    Total calculated
    $0
    Hours/week
    2

  • Stephanie Kocher

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Tim Haynes

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sandy Kern

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Tim Simmons

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Michael Anderson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kent Gutzler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kim Webster

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Virginia Dodge

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lewis Freeman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rick Tomlinson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Wanda Crespo

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mike D'Errico

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • John Ernesto

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Debra Micka

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
21 January 2026
IRS schema version
2024v5.5
Source object
202610229349301206

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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