Soundcorps Inc
- Assets
- $60.3k
- Revenue
- $225.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Chattanooga, TN
- Founding
- 05/2015
- Data as of
- 12/2021
- EIN
- 46-4519201
Organization Overview
Soundcorps Inc is located in Chattanooga, TN. The organization was established in 2015. 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 12/2023, Soundcorps Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Soundcorps 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 12/2021, Soundcorps Inc generated $225.9k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $253.5k during the year ending 12/2021. While expenses have increased by 17.7% per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
WE DEVOTE OUR ENERGIES TO BUILDING LOCAL MUSIC INFRASTRUCTURE AND PROFESSIONAL EXPERTISE THROUGH ONGOING PROGRAMS, EVENTS AND INITIATIVES. THESE EFFORTS WILL TRANSLATE INTO INCREASED OPPORTUNITIES TO EXPERIENCE CHATTANOOGA MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CHATTANOOGA HIP-HOP SUMMIT - A MUSIC INDUSTRY CONFERENCE DEDICATED TO ACCELERATING THE CAREERS OF CHATTANOOGA HIP-HOP ARTISTS AND MUSIC INDUSTRY PROFESSIONALS THROUGH NETWORKING, PROFESSIONAL DEVELOPMENT WORKSHOPS, PANEL SESSIONS, COMMUNITY EVENTS, AND PERFORMANCE OPPORTUNITIES THAT HIGHLIGHT THE WEALTH OF CHATTANOOGA AREA TALENT TO BE CULTIVATED LOCALLY, REGIONALLY, AND BEYOND.IMPACT: 2500 INDIVIDUALS
SIDEWALK STAGES - OVER 500 STREET PERFORMERS THROUGHOUT THE CITY FROM APRIL -OCTOBER. 10,500 INDIVIDUALS IMPACTEDSOUNDBITES - OUR LOCAL MUSIC SUBSCRIPTION SERVICE WHERE FIVE NEW LOCAL SONGS ARE DELIVERED TO SUBSCRIBERS EVERY MONTH. 480 INDIVIDUALS IMPACTEDROAD TO NIGHTFALL -LOCAL BAND COMPETITION FEATURING 30 BANDS COMPETING OVER 6 NIGHTS TO SECURE A SPOT AS THE HEADLINING ACT OF CHATTANOOGA'S NIGHTFALL CONCERT SERIES. 4,500 INDIVIDUALS IMPACTEDINSTRUMENT FUND - DONATED NEW INSTRUMENTS TO TYNER HIGH MARCHING BAND IN PARTNERSHIP WITH DYNAMO STUDIOS AND GIANT STEPS MUSIC RETAILER. 120 INDIVIDUALS IMPACTED
TN PERSON CENTERED MUSIC PROGRAM - SOUNDCORPS PARTNERED WITH THE TN ARTS COMMISSION TO BECOME THE PRIMARY NONPROFIT ADMINISTRATOR OF THE TN PERSON CENTERED MUSIC PROGRAM, WHICH OFFERS TENNESSEE NURSING HOME RESIDENTS, INCLUDING THOSE WITH DEMENTIA AND ALZHEIMER'S, PERSONALIZED MUSIC THROUGH DIGITAL DEVICES TO DELIVER INDIVIDUALIZED PLAYLISTS TO REDUCE MEDICATION USAGE AND ADVERSE BEHAVIORS WHILE IMPROVING QUALITY OF LIFE AND HEALTH OUTCOMES. THE PROGRAM IS OFFERED TO ALL TN NURSING HOMES, WITH APPROXIMATELY 150 PARTICIPATING FACILITIES. THIS PROGRAM HAS ENABLED SOUNDCORPS TO EXPAND WITH THREE NEW STAFF POSITIONS WHICH SPLIT TIME BETWEEN THE TN PERSON CENTERED MUSIC PROGRAM AND OTHER SOUNDCORPS INITIATIVES AND DUTIES.IMPACT: 1,500 ASSISTED LIVING FACILITY RESIDENTS
SOUNDCORPS PROGRAMMING IS DESIGNED TO HELP THE LOCAL MUSIC INDUSTRY PROFESSIONALS BUILD THEIR CAREERS THROUGH TRAINING, RESOURCE DEVELOPMENT, AND NETWORKING. INDIVIDUALS IMPACTED DURING THE 2023 NUMBER AT 18,900. THESE PROGRAMS INCLUDE ONLINE ACTIVITIES, INCLUDING BANDWIDTH, AND EVENTS INCLUDING ROCK'N ROLL DRAFT, ST PADDY'S DAY ON THE PARKWAY, RAIL AND HOPS BREWERS FESTIVAL, NOONTUNES, MAIN X 24 ADULT BIG WHEEL RACE, GEAR SWAP AND SUMMERWEEN. AN ONLINE MUSIC INDUSTRY DIRECTORY IS ALSO AVAILABLE WITH OVER 1,200 PROFILES. NEW YEAR'S EVE CELEBRATION: 8,000 PARTICIPANTSST PADDY'S PARTY IMPACT: 3,000 PARTICIPANTSRAIL & HOPS IMPACT: 1,200 PARTICIPANTSMAIN X 24 IMPACT: 20 MUSICIAN, 20 RACE PARTICIPANTS, 5,000 PARADE ATTENDEES, 350 RACE ATTENDEESSUMMERWEEN IMPACT: 1,200 ATTENDEESMUSIC & BUSINESS SPEAKER SERIES: 700 INDIVIDUALS IMPACTEDRISE CHATTANOOGA BLOCK PARTY: 700 INDIVIDUALS IMPACTEDSOUNDCORPS TRAILER STAGE ACTIVATIONS THROUGHOUT THE COMMUNITY - 3,000 INDIVIDUALS IMPACTED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stratton Tingle Executive Director | OfficerTrustee | 40 | $70,000 |
Steve O'neil Board Chair | OfficerTrustee | 2.12 | $0 |
Reed Bobo Board Treasurer | OfficerTrustee | 0.92 | $0 |
Kristy Graves Secretary | OfficerTrustee | 0.92 | $0 |
Sammy Lowdermilk Board Member | Trustee | 0.92 | $0 |
Xavier Cotto Board Member | Trustee | 0.92 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $5,000 |
| Related organizations | $0 |
| Government grants | $28,632 |
| All other contributions, gifts, grants, and similar amounts not included above | $217,822 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $251,454 |
| Total Program Service Revenue | $5,150 |
| 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 | -$30,719 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $225,885 |
| 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. | $68,269 |
| Compensation of current officers, directors, key employees. | $10,769 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,482 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,057 |
| Payroll taxes | $7,661 |
| Fees for services: Management | $3,606 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,436 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $53,207 |
| Advertising and promotion | $4,119 |
| Office expenses | $316 |
| Information technology | $1,368 |
| Royalties | $0 |
| Occupancy | $3,001 |
| Travel | $401 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $617 |
| Interest | $26 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,438 |
| Insurance | $1,240 |
| All other expenses | $188 |
| Total functional expenses | $253,482 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,935 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15 |
| 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 | $0 |
| Net Land, buildings, and equipment | $17,344 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $60,294 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $60,294 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $60,294 |