National Academy Of Recording Arts & Sciences Inc

Organization Overview

National Academy Of Recording Arts & Sciences Inc, operating under the name Recording Academy, is located in Santa Monica, CA. The organization was established in 1988. According to its NTEE Classification (A03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 07/2021, Recording Academy employed 186 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Recording Academy is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 07/2021, Recording Academy generated $73.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $79.9m during the year ending 07/2021. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Recording Academy has awarded 74 individual grants totaling $71,535,443. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

OUR MISSION IS TO ADVANCE THE ARTS AND SCIENCES OF RECORDING AND TO FOSTER CREATIVE LEADERSHIP.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE RECORDING ACADEMY PRODUCES THE GRAMMY AWARDS, THE ONLY PEER-PRESENTED AWARD TO HONOR ARTISTIC ACHIEVEMENT, TECHNICAL PROFICIENCY AND EXCELLENCE IN THE RECORDING INDUSTRY, WITHOUT REGARD TO ALBUM SALES OR CHART POSITION.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Aeg Ehrlich Ventures Llc
Event Production
$12,927,447
Fulwell 73 Uk Limited
Event Production
$4,974,200
Proskauer Rose Llp
Legal Services
$3,732,642
Greenberg Traurig Llp- Forum
Legal Services
$1,423,788
Young Bull Productions Inc
Event Production
$1,500,000
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$1,197,707
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$1,197,707
Total Program Service Revenue$63,255,398
Investment income $5,645,004
Tax Exempt Bond Proceeds $0
Royalties $1,347,835
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,676,850
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $73,681,549

Grants Awarded

Over the last fiscal year, National Academy Of Recording Arts & Sciences Inc has awarded $5,972,451 in support to 6 organizations.

Grant RecipientAmount

GRAMMY MUSEUM FOUNDATION INC

Org PageRecipient Profile

Los Angeles, CA

PURPOSE: CONTRIBUTIONS AND PROGRAM SERVICE SUPPORT

$2,992,030

MUSICARES FOUNDATION INC

Org PageRecipient Profile

Santa Monica, CA

PURPOSE: CONTRIBUTIONS AND PROGRAM SERVICE SUPPORT

$2,655,852

LATIN GRAMMY CULTURAL FOUNDATION INC

Org PageRecipient Profile

Doral, FL

PURPOSE: GENERAL SUPPORT

$150,000

MUSIC EDUCATION COALITION INC

Org PageRecipient Profile

New York, NY

PURPOSE: GENERAL SUPPORT

$149,569

ARIZONA STATE UNIVERSITY

PURPOSE: WOMAN IN THE MIX STUDY

$15,000

BERKLEE COLLEGE OF MUSIC

Org PageRecipient Profile

Boston, MA

PURPOSE: WOMAN IN THE MIX STUDY

$10,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that National Academy Of Recording Arts & Sciences Inc has recieved totaling $25,000.

Awarding OrganizationAmount
Engelstad Fam Foundation

Las Vegas, NV

PURPOSE: PROGRAM SUPPORT

$25,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$89,675,816
Earnings$19,745,657
Admin Expense$636,937
Ending Balance$108,784,536

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