Ascap Foundation
- Assets
- $12.3m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 01/1976
- Data as of
- 12/2021
- EIN
- 51-0181769
Organization Overview
Ascap Foundation is located in New York, NY. The organization was established in 1976. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, 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. Ascap 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 12/2021, Ascap Foundation generated $2.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Ascap Foundation has awarded 24 individual grants totaling $272,998. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ASCAP FOUNDATION IS DEDICATED TO SUPPORTING AMERICAN MUSIC CREATORS AND ENOCOURAGING THEIR DEVELOPMENT THROUGH MUSIC EDUCATION AND TALENT DEVELOPMENT PROGRAMS INCLUDING SONGWRITING WORKSHOPS, SCHOLARSHIPS, AWARDS, COMMUNITY OUTREACH AND GRANTS TO OTHER 501(C)(3) ORGANIZATIONS FOR MUSIC EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS, FELLOWSHIPS, AWARDS AND COMPOSER PROGRAMS: THE ASCAP FOUNDATION SCHOLARSHIP PROGRAMS SEEK TO ENSURE THAT OPPORTUNITIES FOR THE STUDY OF MUSIC AND INSTRUMENTS, SONGWRITING, MUSIC COMPOSITION, THE BUSINESS OF MUSIC AND RELATED AREAS ARE AVAILABLE TO STUDENTS AT ALL LEVELS BY PROVIDING SCHOLARSHIPS AND FELLOWSHIPS TO 105 RECIPIENTS RANGING FROM $500 TO $10,000. THE ASCAP FOUNDATION PROVIDES AWARDS TO EMERGING COMPOSERS AND SONGWRITERS CONSISTING OF CASH AWARDS TO 87 RECIPIENTS OF COMPOSER AND / OR LYRICIST PROGRAMS. THESE AWARDS RANGE FROM $125 TO $10,000.
MUSIC EDUCATION AND COMMUNITY OUTREACH: THE ASCAP FOUNDATION IS DEDICATED TO NURTURING THE MUSIC TALENT OF TOMORROW BY DEVELOPING AND SUPPORTING EDUCATIONAL PROGRAMS THAT PROVIDE EFFECTIVE LEARNING OPPORTUNITIES CONSISTENT WITH OUR MISSION TO STUDENTS OF ALL AGES. THE ASCAP FOUNDATION HAS PROVIDED FUNDING TO SPONSOR 26 MUSIC EDUCATION AND / OR MUSIC DEVELOPMENT PROGRAMS THROUGHOUT THE YEAR WITH THE GOAL OF ENHANCING AND PROMOTING MUSIC EDUCATION AND PROVIDING THE COMMUNITY WITH ACCESS TO MUSIC AND ITS HISTORY. WHILE MOST ORGANIZATIONS WERE ABLE TO PIVOT TO A REMOTE PROGRAM DURING THE PANDEMIC, SOME PROGRAMS WERE DEFERRED TO 2022. THESE 26 PROGRAMS INCLUDED 13 THAT RECEIVED $5,000 OR MORE IN FUNDING AND 13 PROGRAMS THAT RECEIVED LESS THAN $5,000.
TALENT DEVELOPMENT: THE ASCAP FOUNDATION TALENT DEVELOPMENT PROGRAMS PROVIDE AID AND ENCOURAGEMENT TO MUSIC CREATORS NATIONALLY WHO ARE IN VARIOUS STAGES OF THEIR CAREERS INCLUDING, WORKSHOPS (11); COMMISSIONS AND / OR COMMISSIONING PROGRAMS (2); AND SPONSORSHIP OF TALENT DEVELOPMENT PROGRAMS, (17). BY PROVIDING PROFESSIONAL OPPORTUNITIES TO EMERGING COMPOSERS, LYRICISTS AND SONGWRITERS, THE ASCAP FOUNDATION SUPPORTS THEIR CAREERS AND PROMOTES THEIR WORKS. SOME OF OUR WORKSHOPS WERE UNABLE TO BE HELD IN 2021 DUE TO THE PANDEMIC.
OTHER PROGRAM SERVICES INCLUDE 6 HUMANITARIAN PROGRAMS AND OTHER PROGRAM SUPPORT EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Williams President | OfficerTrustee | 0.5 | $0 |
Irwin Robinson Vice President | OfficerTrustee | 0.25 | $0 |
Dean Kay Treasurer | OfficerTrustee | 0.25 | $0 |
Joan Hill Director Of Finance And Administration | Officer | 40 | $0 |
Colleen Mcdonough Executive Director - Retired 07/02/2021 | Officer | 40 | $0 |
Nicole George-Middleton Executive Director - Effective July 2021 | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $22,312 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,108,499 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,130,811 |
| Total Program Service Revenue | $0 |
| Investment income | $666,584 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $198,322 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $352,274 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,347,991 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $232,628 |
| Grants and other assistance to domestic individuals. | $324,575 |
| 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 | $0 |
| Fees for services: Accounting | $17,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,922 |
| Fees for services: Other | $20,000 |
| Advertising and promotion | $0 |
| Office expenses | $21,115 |
| Information technology | $4,124 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,239 |
| 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 | $462 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,197,699 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,008,282 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,922 |
| 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 | $2,395 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $11,282,690 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,313,289 |
| Accounts payable and accrued expenses | $44,006 |
| Grants payable | $3,066 |
| Deferred revenue | $500 |
| 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 | $47,572 |
| Net assets without donor restrictions | $4,997,702 |
| Net assets with donor restrictions | $7,268,015 |
| 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 | $12,313,289 |
Grants Awarded
Over the last fiscal year, Ascap Foundation has awarded $108,998 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
NEW ORLEANS ATS & CULTURAL HOST COMMITTEE INCLOUIS SATCHMO ARMSTRONG SUMMER JAZZ CAMP Org PageRecipient ProfileNewark, NJ PURPOSE: Grant to support summer jazz camp | $18,000 |
New York, NY PURPOSE: Grant to support Saturday Jazz Workshop program | $15,000 |
ALFRED MUSIC PUBLISHING COMPANY PURPOSE: Provide music books and folios to various schools around the Country. | $14,998 |
New York, NY PURPOSE: Two grants were provided, one in the amount of $8,000 to support the Very Young Composer program at the NY Philharmonic and the other grant for $5,500 to support the NY Philharmonic Project 19 program. | $13,500 |
Nashville, TN PURPOSE: Grant to support Songwriting with Soldiers songwriting retreat | $10,000 |
New York, NY PURPOSE: Grant to support Musical Theatre songwriting program | $9,000 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Ascap Foundation has recieved totaling $80,328.
| Awarding Organization | Amount |
|---|---|
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $27,619 |
Max & Victoria Dreyfus Foundation Washington, DC PURPOSE: 2022 ASCAP FOUNDATION MAX DREYFUS SCHOLARSHIP | $12,000 |
The Miami Foundation Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $10,464 |
Stephen And Carole Schwartz Foundation Inc New York, NY PURPOSE: AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE | $10,000 |
Greater Washington Community Foundation Washington, DC PURPOSE: GENERAL SUPPORT | $6,095 |
The@angelo Family Charitable Foundation New York, NY PURPOSE: FOR OPERATIONS | $5,000 |
Endowment Analysis
| Beg. Balance | $2,468,609 |
| Earnings | $252,309 |
| Grants | $16,750 |
| Ending Balance | $2,704,168 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Street Theater Co Inc Morristown, NJ | $25,009,095 | $16,372,684 |
Bric Arts Media Bklyn Inc Brooklyn, NY | $22,086,824 | $12,315,164 |
The Apollo Theater Foundation Inc New York, NY | $69,978,827 | $33,324,849 |
New Haven Center For Performing Arts Inc Waterbury, CT | $12,801,705 | $9,109,828 |
Performing Arts Consultants Inc Brick, NJ | $2,328,922 | $7,486,685 |
Shen Yun Performing Arts Inc Cuddebackville, NY | $196,627,077 | $30,836,971 |
Foundation For Contemporary Arts Inc New York, NY | $44,020,214 | $7,582,108 |
National Comedy Center Operator Inc Jamestown, NY | $24,581,570 | $2,926,105 |
World Trade Center Performing Arts Center Inc New York, NY | $505,865,812 | $148,493,145 |
Associated Production Services Inc Trevose, PA | $3,216,743 | $4,781,597 |
The Mattress Factory Pittsburgh, PA | $6,739,687 | $2,768,754 |
Rosies Theater Kids Inc New York, NY | $7,813,636 | $2,330,340 |