Music Mountain Incorporated
- Assets
- $412.3k
- Revenue
- $529.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Lakeville, CT
- Founding
- 02/1973
- Data as of
- 10/2023
- EIN
- 23-7219961
Organization Overview
Music Mountain Incorporated is located in Lakeville, CT. The organization was established in 1973. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 10/2023, Music Mountain Incorporated employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Music Mountain Incorporated 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 10/2023, Music Mountain Incorporated generated $529.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $504.9k during the year ending 10/2023. While expenses have increased by 5.8% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE PERFORMANCE OF CHAMBER MUSIC, PARTICULARLY THE STRING QUARTET AND RELATED LITERATURE; TO PROMOTE MUSICAL EDUCATION IN THE FIELD OF STRING AND OTHER ORCHESTRAL INSTRUMENTS; TO PROMOTE AND SUPPORT THE EDUCATION AND DEVELOPMENT OF STUDENTS PURSUING CAREERS IN THE FIELD OF CHAMBER AND OTHER CLASSICAL MUSIC; AND TO PROMOTE THE GENERAL PUBLICS INTEREST IN CHAMBER MUSIC BY MEANS OF CONCERTS, LECTURES, TEACHING AND OTHER MEANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCERT FESTIVAL: CHAMBER SERIES, JAZZ AND MORE SERIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Oskar Espina-Ruiz Artistic & Executive Director | 20 | $56,000 | |
Bethany Franklin Operations Manager | 20 | $20,654 | |
Fredrick Baumgarten Treasurer | Trustee | 15 | $0 |
Dee Salomon Vice President | Trustee | 10 | $0 |
Richard Heys Secretary | Trustee | 10 | $0 |
Mike Abram President | Trustee | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $80,216 |
| All other contributions, gifts, grants, and similar amounts not included above | $213,985 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $294,201 |
| Total Program Service Revenue | $192,322 |
| Investment income | $5,043 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $27,739 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $529,505 |
| 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. | $76,654 |
| Compensation of current officers, directors, key employees. | $28,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $83,322 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,258 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,995 |
| Fees for services: Accounting | $14,051 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,219 |
| Fees for services: Other | $158,685 |
| Advertising and promotion | $65,001 |
| Office expenses | $15,229 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,081 |
| Travel | $5,124 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,025 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,548 |
| Insurance | $28,957 |
| All other expenses | $0 |
| Total functional expenses | $504,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,298 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $170 |
| 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 | $1,476 |
| Net Land, buildings, and equipment | $147,561 |
| Investments—publicly traded securities | $258,777 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $412,282 |
| Accounts payable and accrued expenses | $5,286 |
| 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 | $0 |
| Secured mortgages and notes payable | $91,601 |
| Unsecured mortgages and notes payable | $37,500 |
| Other liabilities | $0 |
| Total liabilities | $134,387 |
| Net assets without donor restrictions | $228,220 |
| Net assets with donor restrictions | $49,675 |
| 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 | $412,282 |