Groton Hill Music Inc
- Assets
- $210.8m
- Revenue
- $41.2m
- Investments
- $0.0
- Employees
- 106
- Location
- Groton, MA
- Founding
- 04/1986
- Data as of
- 06/2022
- EIN
- 04-2867945
Organization Overview
Groton Hill Music Inc is located in Groton, MA. The organization was established in 1986. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Groton Hill Music Inc employed 106 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Groton Hill Music Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Groton Hill Music Inc generated $41.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $8.2m during the year ending 06/2022. While expenses have increased by 11.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SHARE THE TRANSFORMATIVE POWER OF MUSIC THROUGH TEACHING, PERFORMING & GIVING MUSIC
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSIC EDUCATION PROGRAM SERVED APPROXIMATELY 1,200 STUDENTS OF ALL AGES AND ABILITIES WITH A FACULTY OF PROFESSIONAL ARTISTS AND EDUCATORS THROUGH PRIVATE INSTRUCTION, GROUP LESSONS AND ENSEMBLES FOR ALL INSTRUMENTS AND VOICE, IN MANY GENRES INCLUDING CLASSICAL, JAZZ, FOLK, POPULAR, CELTIC, AND TRADITIONAL MUSIC. THE ORGANIZATION IS COMMITTED TO PROVIDING AFFORDABLE MUSIC EDUCATION AND ALSO HAS BEEN ABLE TO PROVIDE $54,597 IN SCHOLARSHIP AID.
THE ORGANIZATION'S MISSION IS CENTERED ON THE PRINCIPLE THAT PERFORMANCE AND EDUCATION ARE FULLY INTEGRATED AND REPRESENT AN INTEGRAL PART OF THE ORGANIZATION'S MUSIC EDUCATION CURRICULUM. ATTENDING PROFESSIONAL CONCERTS AND WATCHING A PROFESSIONAL AT WORK IS ESSENTIAL TO DEVELOPING STRONG PERFORMANCE TECHNIQUES AND AN UNDERSTANDING OF HOW TO MASTER ONE'S INSTRUMENT. LISTENING TO, AND EVALUATING, MUSIC AND MUSIC PERFORMANCE ARE KEY STANDARDS OF A COMPREHENSIVE, QUALITY MUSIC EDUCATION PROGRAM. THE ORGANIZATION'S PERFORMANCE PROGRAM SERVED APPROXIMATELY 4,800 PEOPLE THROUGH PERFORMANCES BY HIGH QUALITY GUEST ARTISTS IN MANY GENRES OF MUSIC AS WELL AS THE ORGANIZATION'S PROFESSIONAL ORCHESTRA LED BY ARTISTIC DIRECTOR, BRUCE HANGEN.
THE ORGANIZATION'S MUSIC PHILANTHROPY PROGRAM SERVED APPROXIMATELY 1,100 PEOPLE THROUGH FREE AFTER SCHOOL MUSIC LESSONS AND PROGRAMS IN UNDERSERVED COMMUNITIES, FREE MONTHLY PROFESSIONAL CONCERTS THAT SERVE SENIOR CITIZENS, AND SINGING BY ITS THRESHOLD SINGERS FOR THOSE IN HOSPICE CARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Fiorentino Chief Executive Officer | Officer | 40 | $170,799 |
Catherine Coleman Director Of Development | 40 | $126,175 | |
Pete Robbins Dir Of Education & Performance Prgmg | 40 | $125,000 | |
Jonathan Panek Treasurer | OfficerTrustee | 1 | $0 |
Phil Francisco Clerk | OfficerTrustee | 1 | $0 |
Miriam Smith Vice-Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $61,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $38,151,283 |
| Noncash contributions included in lines 1a–1f | $1,448,702 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,212,383 |
| Total Program Service Revenue | $1,793,850 |
| Investment income | $903,506 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $286,949 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,196,688 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $54,597 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $207,625 |
| Compensation of current officers, directors, key employees. | $51,906 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,289,762 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $106,407 |
| Payroll taxes | $194,156 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,500 |
| Fees for services: Accounting | $29,012 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,037 |
| Fees for services: Other | $302,788 |
| Advertising and promotion | $110,069 |
| Office expenses | $19,039 |
| Information technology | $36,445 |
| Royalties | $0 |
| Occupancy | $4,504,050 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,384 |
| Insurance | $43,006 |
| All other expenses | $0 |
| Total functional expenses | $8,190,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,630,426 |
| Savings and temporary cash investments | $4,972,902 |
| Pledges and grants receivable | $733,078 |
| Accounts receivable, net | $55,720 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $337,058 |
| Net Land, buildings, and equipment | $179,275,429 |
| Investments—publicly traded securities | $23,825,500 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $210,830,113 |
| Accounts payable and accrued expenses | $93,332 |
| Grants payable | $0 |
| Deferred revenue | $476,457 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $170,726 |
| Total liabilities | $740,515 |
| Net assets without donor restrictions | $184,061,119 |
| Net assets with donor restrictions | $26,028,479 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $210,830,113 |
Grants Recieved
Over the last fiscal year, we have identified 19 grants that Groton Hill Music Inc has recieved totaling $331,202.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of North Central Massachusetts Inc Fitchburg, MA PURPOSE: ARTS & CULTURE | $136,350 |
Gunzenhauser-Chapin Fund Greensboro, NC PURPOSE: TO ASSIST ORGANIZATION IN CARRYING OUT ITS EXEMPT PURPOSE. | $60,000 |
Rollstone Charitable Foundation Inc Fitchburg, MA PURPOSE: EXEMPT PURPOSE | $40,000 |
Samuel C Endicott Fund Boston, MA PURPOSE: GENERAL PURPOSE | $20,000 |
George R Wallace Foundation Boston, MA PURPOSE: SUPPORT | $10,000 |
Rollstone Charitable Foundation Inc Fitchburg, MA PURPOSE: EXEMPT PURPOSE | $10,000 |
Endowment Analysis
| Beg. Balance | $24,543,129 |
| Earnings | -$2,963,253 |
| Admin Expense | $38,741 |
| Net Contributions | $1,956,526 |
| Other Expense | $84,575 |
| Grants | $38,900 |
| Ending Balance | $23,374,186 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Handel And Haydn Society Boston, MA | $29,038,335 | $22,868,295 |
Groton Hill Music Inc Groton, MA | $210,830,113 | $41,196,688 |
Newport Festivals Foundation Inc Essex, MA | $20,080,911 | $11,132,304 |
Whyhunger Inc New York, NY | $5,607,325 | $7,869,621 |
Caramoor Center For Music & The Arts Inc Katonah, NY | $49,439,168 | $6,140,543 |
Save The Music Foundation New York, NY | $5,156,662 | $8,206,045 |
Rockport Music Inc Rockport, MA | $31,791,427 | $3,720,672 |
American Friends Of Les Arts Florissants Inc New York, NY | $1,107,997 | $2,546,808 |
Chicken & Egg Pictures Inc Brooklyn, NY | $9,525,742 | $4,390,371 |
Young Concert Artists Inc New York, NY | $10,777,916 | $2,607,839 |
New Music Usa Inc New York, NY | $21,074,524 | $3,287,635 |
Original Music Workshop Inc Brooklyn, NY | $4,224,196 | $2,706,667 |