Vocal Group Hall Of Fame Foundation
- Assets
- $670.4k
- Revenue
- $2.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Sharon, PA
- Founding
- 08/1998
- Data as of
- 12/2020
- EIN
- 23-2878452
Organization Overview
Vocal Group Hall Of Fame Foundation is located in Sharon, PA. The organization was established in 1998. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vocal Group Hall Of Fame Foundation 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 12/2020, Vocal Group Hall Of Fame Foundation generated $2.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (29.2%) each year. All expenses for the organization totaled $25.7k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATE PUBLIC ABOUT VOCAL MUSIC
Describe the Organization's Program Activity:
Part 3 - Line 4a
PREPARATION FOR INDUCTION CEREMONIES HONORING SINGING GROUPS WHO HAD A SIGNIFICANT IMPACT ON MUSIC
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Crosby Presceochairmansectreasb | OfficerTrustee | 30 | $0 |
Harold Gwin Board Member | Trustee | 10 | $0 |
Gary Ferencik Board Member | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $2,638 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,638 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $659 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,929 |
| Office expenses | $5,909 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,000 |
| Travel | $61 |
| 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 | $9,540 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $25,668 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $280 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,341 |
| Inventories for sale or use | $507,184 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $157,566 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $670,371 |
| Accounts payable and accrued expenses | $16,609 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $140,953 |
| Secured mortgages and notes payable | $25,000 |
| Unsecured mortgages and notes payable | $600,000 |
| Other liabilities | $0 |
| Total liabilities | $782,562 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | -$112,191 |
| Total liabilities and net assets/fund balances | $670,371 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
George Eastman Museum Rochester, NY | $59,825,841 | $12,306,953 |
Weitzman National Museum Of American Jewish History Philadelphia, PA | $28,897,470 | -$14,023,866 |
National Museum Of Mathematics New York, NY | $42,218,242 | $9,885,068 |
Chesapeake Bay Maritime Museum Inc Saint Michaels, MD | $39,670,845 | $11,802,090 |
Independence Seaport Museum Philadelphia, PA | $22,539,825 | $3,083,203 |
Amigos Del Museo Del Barrio New York, NY | $18,789,462 | $15,193,674 |
American Museum Of The Moving Image Astoria, NY | $5,870,489 | $5,453,055 |
Rockwell Museum Corning, NY | $8,339,616 | $5,240,521 |
Museum Of Chinese In The America New York, NY | $11,986,346 | $14,599,749 |
American Folk Art Museum New York, NY | $12,095,077 | $3,818,559 |
Seaport Museum New York New York, NY | $25,331,264 | $3,990,883 |
American Kennel Club Museum Of The Dog New York, NY | $19,543,798 | $3,681,348 |