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Nonprofiteer
← OLD TOWN SCHOOL OF FOLK MUSIC INC

Form 990 for tax year 2023

Filed by OLD TOWN SCHOOL OF FOLK MUSIC INC.

Totals

Total revenue
$14,028,278
Total expenses
$14,030,232
Contributions and grants received
$3,313,741
Grants paid
$179,468
Program service revenue
$9,516,390
Investment income
$494,085
Other revenue
$704,062
Total assets, end of year
$26,984,307
Total liabilities, end of year
$2,138,464
Net assets or fund balances, end of year
$24,845,843
Program services expenses (Part IX)
$10,819,746
Management and general expenses
$2,206,186
Fundraising expenses
$1,004,300
Program service expenses (Part III)
$10,819,746

Program services were 77.1% 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.

  • 1b · Membership dues

    $583,906

  • 1c · Fundraising events

    $794,660

  • 1e · Government grants (contributions)

    $606,877

  • 1f · All other contributions, gifts and grants

    $1,328,298

  • 1g · Noncash contributions included above

    $103,586

  • 2a · Program service revenue: TUITION

    total $5,990,994 · related or exempt $5,990,994

  • 2b · Program service revenue: CONCERT ADMISSION/SALES

    total $2,811,005 · related or exempt $2,811,005

  • 2c · Program service revenue: COMMUNITY PROGRAMS/OUTREACH

    total $238,178 · related or exempt $238,178

  • 2d · Program service revenue: REFERRALS

    total $232,915 · related or exempt $232,915

  • 2e · Program service revenue: ALL OTHER

    total $113,911 · related or exempt $113,911

  • 2f · All other program service revenue

    total $129,387 · related or exempt $129,387

  • 3 · Investment income

    total $449,346 · excluded $449,346

  • 7a · Gross sales of assets other than inventory

    securities $4,895,580 · other assets $65,755

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

    securities $4,833,176 · other assets $83,420

  • 7c · Gain or loss

    securities $62,404 · other assets -$17,665

  • 7d · Net gain or loss

    total $44,739 · excluded $44,739

  • 8a · Fundraising events: gross income

    $72,540

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

    $794,660

  • 8b · Fundraising events: direct expenses

    $188,596

  • 8c · Net income from fundraising events

    total -$116,056 · excluded -$116,056

  • 10a · Gross sales of inventory

    $1,705,436

  • 10b · Cost of goods sold

    $885,318

  • 10c · Net income from sales of inventory

    total $820,118 · related or exempt $820,118

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $179,468 · program services $179,468

  • 5 · Compensation of officers, directors and key employees

    total $644,454 · management and general $340,003 · fundraising $304,451

  • 7 · Other salaries and wages

    total $6,522,190 · program services $5,579,163 · management and general $496,176 · fundraising $446,851

  • 8 · Pension plan contributions

    total $44,729 · program services $34,235 · management and general $8,062 · fundraising $2,432

  • 9 · Other employee benefits

    total $536,105 · program services $410,327 · management and general $96,634 · fundraising $29,144

  • 10 · Payroll taxes

    total $586,488 · program services $482,199 · management and general $56,264 · fundraising $48,025

  • 11b · Fees: legal

    total $32,756 · program services $6,852 · management and general $25,904

  • 11c · Fees: accounting

    total $81,086 · program services $16,961 · management and general $64,125

  • 11g · Fees: other

    total $2,170,822 · program services $2,123,524 · management and general $47,298

  • 12 · Advertising and promotion

    total $617,199 · management and general $617,047 · fundraising $152

  • 13 · Office expenses

    total $313,915 · program services $151,432 · management and general $140,182 · fundraising $22,301

  • 14 · Information technology

    total $57,678 · program services $50,618 · management and general $2,977 · fundraising $4,083

  • 16 · Occupancy

    total $227,687 · program services $199,875 · management and general $11,898 · fundraising $15,914

  • 17 · Travel

    total $172,764 · program services $171,738 · management and general $1,026

  • 22 · Depreciation, depletion and amortization

    total $625,422 · program services $429,117 · management and general $161,693 · fundraising $34,612

  • 23 · Insurance

    total $43,303 · program services $38,013 · management and general $2,263 · fundraising $3,027

  • 24a · Other expenses: CONCERT PRODUCTION

    total $380,704 · program services $380,704

  • 24b · Other expenses: BANKING AND CREDIT CARD

    total $347,728 · program services $298,352 · management and general $32,074 · fundraising $17,302

  • 24c · Other expenses: BUILDING AND EQUIPMENT

    total $116,831 · program services $100,750 · management and general $9,600 · fundraising $6,481

  • 24d · Other expenses: MEMBERSHIP MAINTENANCE

    total $68,749 · fundraising $68,749

  • 24e · All other expenses

    total $260,154 · program services $166,418 · management and general $92,960 · fundraising $776

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,891,818 · end of year $5,687,146

  • 3 · Pledges and grants receivable

    beginning of year $2,577,280 · end of year $936,873

  • 8 · Inventories for sale or use

    beginning of year $336,775 · end of year $362,018

  • 9 · Prepaid expenses and deferred charges

    beginning of year $190,890 · end of year $127,681

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

    $25,488,975

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

    $10,382,450

  • 10c · Land, buildings and equipment, net

    beginning of year $14,785,810 · end of year $15,106,525

  • 11 · Investments: publicly traded securities

    beginning of year $5,065,975 · end of year $4,710,217

  • 15 · Other assets

    beginning of year $0 · end of year $53,847

  • 17 · Accounts payable and accrued expenses

    beginning of year $498,920 · end of year $500,808

  • 19 · Deferred revenue

    beginning of year $1,822,826 · end of year $1,583,199

  • 25 · Other liabilities

    beginning of year $0 · end of year $54,457

  • 27 · Net assets without donor restrictions

    beginning of year $22,281,931 · end of year $22,281,721

  • 28 · Net assets with donor restrictions

    beginning of year $2,244,871 · end of year $2,564,122

Mission and programs · 2023

Mission

THE OLD TOWN SCHOOL OF FOLK MUSIC TEACHES AND CELEBRATES MUSIC AND CULTURAL EXPRESSIONS ROOTED IN THE TRADITIONS OF DIVERSE AMERICAN AND GLOBAL COMMUNITIES.

Activities or mission (Part I)

TEACHES AND CELEBRATES MUSIC AND CULTURAL EXPRESSIONS ROOTED IN THE TRADITIONS OF DIVERSE AMERICAN AND GLOBAL COMMUNITIES.

  • ART INSTRUCTION: OLD TOWN SCHOOL OF FOLK MUSIC IS THE LARGEST COMMUNITY MUSIC SCHOOL IN THE US, THE LARGEST EMPLOYER OF TEACHING ARTISTS AND AN INTERNATIONAL MODEL FOR COMMUNITY MUSIC AND MOVEMENT. ALL OF OLD TOWN SCHOOL OF FOLK MUSIC'S ACCREDITED INSTRUMENTAL DANCE, MUSIC AND ANCILLARY PROGRAMS ARE DESIGNED TO STIMULATE CREATIVITY AND COMMUNAL ARTS PARTICIPATION AMONG PEOPLE OF ALL AGES. WHILE CLASSES CONTINUE (AND WILL CONTINUE) TO BE OFFERED ONLINE, THE VAST MAJORITY OF STUDENTS ATTENDED IN PERSON CLASSES DURING 2023.REGISTRATION VOLUMES ARE BUILDING BACK TO PRE-PANDEMIC LEVELS FOR THE ADULT PROGRAMS; THE NUMBER OF STUDENTS IN THE LAST FOUR MONTHS OF THE YEAR, WERE AT 90% OF 2019 STUDENT VOLUME. THE CHILDREN'S PROGRAM CONTINUES TO BUILD BACK; STUDENT NUMBERS WERE 65% OF PRE PANDEMIC LEVELS AT THE END OF THE YEAR.THE NUMBER OF STUDENTS IN GROUP CLASSES AND WORKSHOPS WAS 23,273 AND IN PRIVATE LESSONS 4,865; COMPARED TO 2019 NUMBERS OF 29,795 AND 6,543, RESPECTIVELY.

    Expenses $5,451,502 · Grants $179,468 · Revenue $5,990,994

  • CONCERTS: OLD TOWN SCHOOL OF FOLK MUSIC IS A PROLIFIC CONCERT VENUE. EVENTS INCLUDE ON-SITE AND OFF-SITE CONCERTS FEATURING BIG NAME ACTS AND EMERGING ARTISTS IN STATE-OF-THE-ART FACILITIES. THE POPULAR WORLD MUSIC WEDNESDAY SERIES SHOWCASES INTERNATIONAL ARTISTS CO-PRODUCED WITH DOZENS OF COMMUNITY PARTNERS.THE SCHOOL PRESENTED A FULL SLATE OF CONCERTS IN 2023 AND EXPERIENCED A BANNER YEAR; 49,784 PEOPLE ATTENDED 190 EVENTS.

    Expenses $3,020,384 · Revenue $2,811,005

  • OUTREACH: OLD TOWN SCHOOL OF FOLK MUSIC SERVES THOUSANDS OF CHICAGO'S CHILDREN EACH YEAR, PROVIDING ARTS EDUCATION PROGRAMMING THROUGHOUT THE CITY. IN PERSON PROGRAMMING OCCURRED DURING THE ENTIRE YEAR. OLD TOWN SCHOOL ANNUALLY PROVIDES COMMUNITY-BASED ARTS EDUCATION FOR THOUSANDS OF CHILDREN THROUGH ARTIST RESIDENCIES IN CPS SCHOOLS, CENTER-BASED EARLY CHILDHOOD MUSIC PROGRAMMING IN NORTH LAWNDALE, AND ROBUST FIELD TRIP AND FINANCIAL AID PROGRAMS. OUR MUSIC MOVES/HEALING JUSTICE INITIATIVE CONNECTS NON-ARTS COMMUNITY PARTNERS LOCATED IN CHICAGO'S SOUTH SIDE AND WEST SIDE NEIGHBORHOODS WITH HIGH-QUALITY ARTS PROGRAMMING THAT BUILD ARTS CAPACITY, SKILL ACQUISITION IN MUSIC PERFORMANCE AND EQUITY THOUGH PERFORMANCE AND DISCOURSE RELATED TO LIBERATORY FUTURES, PERSONAL GROWTH, CURIOSITY AND IMAGINATION.

    Expenses $1,553,705 · Revenue $238,178

  • OLD TOWN SCHOOL OF FOLK MUSIC'S CAMPUS INCLUDES A RETAIL MUSIC STORE WHICH PROVIDES INSTRUMENTS FOR PURCHASE OR RENTAL TO OUR STUDENTS. THE RETAIL STORE WAS OPEN FOR IN PERSON SHOPPING THE ENTIRE YEAR, AND ALSO SERVED CUSTOMERS THROUGH OUR WEBSITE AND A THIRD-PARTY ONLINE WEBSITE, REVERB. AN IN-HOUSE CAFE OPERATES DURING CONCERTS, SERVING DRINKS AND SNACKS.

    Expenses $794,155 · Revenue $1,296,331

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

Listed in Part VII

  • Kate Tomford

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    4

  • Robert D Ospalik

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Michael Warner

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Kenneth Kaufman

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Mary Beth Berkoff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ernest Dawkins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Louise Frank

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tim Hunter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Judge

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Geraldine Keefe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Martina Keller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Susan Kessell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kish Khemani

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rana Komar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Lentz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kim Moran

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eric Nordness

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Anne Phillips

    DIRECTOR (BEG. 7/2023)

    Total calculated
    $0
    Hours/week
    1

  • Oliver Prince

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brian Proctor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Prussian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Douglas P Regan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Candice Rosevear

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lori Seaman

    DIRECTOR (BEG. 11/2023)

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Betsy M Solaro

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Newcomb

    CEO

    Total calculated
    $272,910
    From this org
    $251,077
    From related orgs
    $0
    Other
    $21,833
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $251,077
    Bonus
    $0
    Other
    $0
    Deferred
    $7,419
    Nontaxable benefits
    $14,414
    Filer's total
    $272,910

  • Gail Prete

    CFO

    Total calculated
    $119,944
    From this org
    $111,539
    From related orgs
    $0
    Other
    $8,405
    Hours/week
    40

  • Mary Jane Drews

    DIR. OF INSTITUTIONAL ADVANCEMENT

    Total calculated
    $251,600
    From this org
    $234,206
    From related orgs
    $0
    Other
    $17,394
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $234,206
    Bonus
    $0
    Other
    $0
    Deferred
    $6,751
    Nontaxable benefits
    $10,643
    Filer's total
    $251,600

  • Troy Hansbrough

    SR DIRECTOR OF PROGRAMMING

    Total calculated
    $150,128
    From this org
    $131,963
    From related orgs
    $0
    Other
    $18,165
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,963
    Bonus
    $0
    Other
    $0
    Deferred
    $3,744
    Nontaxable benefits
    $14,421
    Filer's total
    $150,128

  • Lauren Slipkowsky

    SR DIRECTOR OF HUMAN RESOURCES

    Total calculated
    $117,316
    From this org
    $108,020
    From related orgs
    $0
    Other
    $9,296
    Hours/week
    40

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

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
17 July 2024
IRS schema version
2023v5.1
Source object
202442009349300629

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