Herbie Hancock Institute Of Jazz
- Assets
- $2.6m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 7
- Location
- Washington, DC
- Founding
- 08/1988
- Data as of
- 12/2021
- EIN
- 52-1544030
Organization Overview
Herbie Hancock Institute Of Jazz is located in Washington, DC. The organization was established in 1988. 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 12/2021, Herbie Hancock Institute Of Jazz employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Herbie Hancock Institute Of Jazz 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, Herbie Hancock Institute Of Jazz generated $2.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 7 years. 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
TO OFFER THE WORLD'S MOST PROMISING YOUNG MUSICIANS COLLEGE LEVEL TRAINING BY INTERNATIONALLY RENOWNED JAZZ MASTERS AND TO PRESENT PUBLIC SCHOOL JAZZ EDUCATION PROGRAMS FOR YOUNG PEOPLE AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTERNATIONAL PROGRAMS - THE INSTITUTE OFFERS EDUCATIONAL AND CULTURAL PROGRAMS INCLUDING SPECIAL PERFORMANCES, TOURS AND INTERNATIONAL JAZZ DAY PROGRAMS THAT REACH PEOPLE WORLDWIDE. THE UNITED NATIONS EDUCATIONAL, SCIENTIFIC AND CULTURAL ORGANIZATION (UNESCO) DESIGNATED APRIL 30 AS INTERNATIONAL JAZZ DAY IN ORDER TO HIGHLIGHT JAZZ AND ITS DIPLOMATIC ROLE OF UNITING PEOPLE IN ALL CORNERS OF THE GLOBE. THE FIRST INTERNATIONAL JAZZ DAY TOOK PLACE ON APRIL 30, 2012, AS THE LEAD NONPROFIT ORGANIZATION CHARGED WITH PLANNING AND PROMOTING THIS ANNUAL CELEBRATION, THE INSTITUTE PRESENTS HIGH-PROFILE CONCERTS AND EDUCATION PROGRAMS FEATURING DOZENS OF WORLD-RENOWNED MUSICIANS.
JAZZ IN THE CLASSROOM - THE INSTITUTE PRESENTS JAZZ IN THE CLASSROOM PROGRAMS IN PUBLIC SCHOOLS AROUND THE WORLD, EXPOSING YOUNG PEOPLE TO THE CULTURAL RICHNESS OF JAZZ. MASTER CLASSES, WORKSHOPS AND CONCERTS ARE PRESENTED BY LEADING JAZZ MUSICIANS AND EDUCATORS TO HELP STUDENTS WITH THEIR MUSICAL INSTRUMENT TRAINING, FOSTER A SENSE OF CREATIVITY AND SELF-ESTEEM, AND PROVIDE ROLE MODELS. JAZZ IN THE CLASSROOM BRINGS MUSIC EDUCATORS AND MAJOR JAZZ ARTISTS INTO PUBLIC SCHOOLS IN WASHINGTON, DC, LOS ANGELES, CA AND OTHER CITIES TO TEACH AND MENTOR STUDENTS.
HERBIE HANCOCK INSTITUTE OF JAZZ PERFORMANCE - IN SEPTEMBER 1995, THE INSTITUTE ESTABLISHED A TWO-YEAR, ACCREDITED, COLLEGE LEVEL PROGRAM FOR GIFTED YOUNG MUSICIANS TO STUDY ON A FULL-TIME BASIS. THE PROGRAM OFFERS A MASTER'S DEGREE IN JAZZ PERFORMANCE. THE STUDENTS SELECTED FOR THE PROGRAM STUDY TUITION-FREE WITH FULL ROOM AND BOARD STIPENDS PROVIDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Carter President | OfficerTrustee | 40 | $150,000 |
James W Dyas VP Edu/curricum | 40 | $139,200 | |
Michelle M Day Vp, Operations | 40 | $136,000 | |
James Farmer Treasurer | OfficerTrustee | 5 | $0 |
Herbie Hancock Institute Chair | OfficerTrustee | 8 | $0 |
Wayne Shorter Trustee | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hudson River Films Inc Media | 12/30/17 | $316,847 |
Roar Consulting Consulting | 12/30/17 | $123,715 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $299,559 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,082,448 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,382,007 |
| Total Program Service Revenue | $0 |
| Investment income | $379 |
| 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 | $2,382,953 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $69,399 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $150,000 |
| Compensation of current officers, directors, key employees. | $16,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $616,200 |
| Pension plan accruals and contributions | $24,236 |
| Other employee benefits | $75,172 |
| Payroll taxes | $62,920 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,682 |
| Fees for services: Accounting | $4,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $699,716 |
| Advertising and promotion | $67,563 |
| Office expenses | $0 |
| Information technology | $41,434 |
| Royalties | $0 |
| Occupancy | $149,171 |
| Travel | $357,167 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $30,351 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,504 |
| Insurance | $16,787 |
| All other expenses | $6,301 |
| Total functional expenses | $2,473,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,531 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,112,127 |
| Accounts receivable, net | $0 |
| 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 | $400,000 |
| Net Land, buildings, and equipment | $8,992 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,126 |
| Total assets | $2,606,776 |
| Accounts payable and accrued expenses | $405,280 |
| 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 | $247,894 |
| Secured mortgages and notes payable | $155,952 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $330,543 |
| Total liabilities | $1,139,669 |
| Net assets without donor restrictions | $92,515 |
| Net assets with donor restrictions | $1,374,592 |
| 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 | $2,606,776 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Herbie Hancock Institute Of Jazz has recieved totaling $214,679.
| Awarding Organization | Amount |
|---|---|
Northrop Grumman Foundation Falls Church, VA PURPOSE: GENERAL OPERATING GRANTS & MATCHING GIFTS. | $100,000 |
Ralph M Parsons Foundation Los Angeles, CA PURPOSE: FOR JAZZ EDUCATION PROGRAMS IN LOS ANGELES COUNTY | $50,000 |
Shubert Foundation Inc New York, NY PURPOSE: GENERAL OPERATING | $15,000 |
Child Aid International Inc Salem, MA PURPOSE: TO ASSIST IN THE ORGANIZATION'S EXEMPT PURPOSES. | $13,690 |
Monterey International Pop Festival Inc Los Angeles, CA PURPOSE: PROVIDE THE WORLD'S MOST PROMISING YOUNG MUSICIANS COLLEGE LEVEL TRAINING BY INTERNATIONALLY ACCLAIMED JAZZ MASTERS | $10,325 |
Associated Jewish Charities Of Baltimore Baltimore, MD PURPOSE: GENERAL SUPPORT | $9,000 |
Endowment Analysis
| Beg. Balance | $150,000 |
| Ending Balance | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Capital Concerts Inc Washington, DC | $5,908,234 | $11,646,682 |
Herbie Hancock Institute Of Jazz Washington, DC | $2,606,776 | $2,382,953 |
Opera Lafayette Washington, DC | $934,993 | $1,317,563 |
Dc Jazz Festival Washington, DC | $509,622 | $1,492,287 |
National Association Of Securities Professionals Washington, DC | $381,412 | $1,369,032 |
Garth Newel Music Center Foundation Corp Warm Springs, VA | $11,030,155 | $3,286,449 |
Alliance For Middle East Peace Inc Washington, DC | $1,104,153 | $1,242,168 |
Washington Bach Consort Washington, DC | $1,833,165 | $1,410,889 |
Virginia Musical Theatre Inc Virginia Beach, VA | $428,462 | $648,568 |
Williamsburg Music Association Williamsburg, VA | $1,263,975 | $1,022,675 |
Prince Georges Cultural Arts Foundation Mitchellville, MD | $187,525 | $778,067 |
Jazz Legacy Foundation Incorporated Portsmouth, VA | $138,246 | $665,223 |