Wednesday Music Club
- Assets
- $2.1m
- Revenue
- $205.8k
- Investments
- $1.9m
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- 01/1991
- Data as of
- 06/2022
- EIN
- 54-1137611
Organization Overview
Wednesday Music Club is located in Charlottesville, VA. The organization was established in 1991. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wednesday Music Club 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 06/2022, Wednesday Music Club generated $205.8k 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 (16.5%) each year. All expenses for the organization totaled $100.0k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FOUNDED IN 1923, THE WEDNESDAY MUSIC CLUB PROMOTES AND EXPANDS QUALITY MUSICAL AND EDUCATIONAL OPPORTUNITIES FOR ITS MEMBERS, FOR TEACHERS, FOR MUSIC LOVERS, AND FOR THE YOUTH OF CENTRAL VIRGINIA THROUGH REGULAR PERFORMANCES, SHARED GROUP EXPERIENCES, COMPETITION, AND FINANCIAL SUPPORT.REGULAR PROGRAMS INCLUDE:MONTHLY PROGRAMS FEATURING PERFORMANCES BY ACCOMPLISHED AREA MUSICIANSALLOCATION OF $10,000+ IN NEED-BASED TUITION ASSISTANCE SCHOLARSHIPS FOR PRIVATE MUSIC LESSONS TO AREA YOUTHANNUAL, PROFESSIONALLY ADJUDICATED COMPETITION FOR AREA YOUTH, AND AN ANNUAL WINNERS' RECITAL. WINNERS ARE AWARDED $11,000+ IN CASH AWARDS AND SCHOLARSHIPS TO ATTEND SUMMER MUSIC CAMPSTHREE ANNUAL $2,500 SCHOLARSHIPS FOR UNIVERSITY MUSIC MAJORS. RECIPIENTS PERFORM IN RECITAL AT THE CLUB'S ANNUAL FUNDRAISING EVENT, MUSICAL INTERLUDEMUSIC LESSON SCHOLARSHIPS TOTALING $7,000+ FOR UNIVERSITY STUDENT MEMBERS OF THE SYMPHONY$20,000+ ANNUALLY ALLOCATED TO LOCAL PUBLIC SCHOOL MUSIC PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING AND FOSTERING INTEREST IN THE STUDY OF MUSIC THROUGH THE SPONSORING OF MUSICAL PERFORMANCES, EDUCATING OF MEMBERS AND PROVIDING SCHOLARSHIPS TO STUDENTS OF MUSIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Carragan Director | Trustee | 2 | $4,850 |
Brian A Garrison Treasurer | OfficerTrustee | 1 | $0 |
Dana Patek President | OfficerTrustee | 2 | $0 |
Content Sablinsky Vice President | OfficerTrustee | 1 | $0 |
Dorrit Green Secretary | OfficerTrustee | 1 | $0 |
Anitra Archer Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,720 |
| Fundraising events | $7,700 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,125 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,545 |
| Total Program Service Revenue | $1,980 |
| Investment income | $19,457 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $139,110 |
| Net Income from Fundraising Events | $8,685 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $205,777 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $31,227 |
| 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 | $7,745 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,717 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,847 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $2,832 |
| Insurance | $1,753 |
| All other expenses | $559 |
| Total functional expenses | $99,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,825 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $50,975 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,876,934 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,104,734 |
| Accounts payable and accrued expenses | $750 |
| 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 | $80 |
| Total liabilities | $830 |
| Net assets without donor restrictions | $2,055,542 |
| Net assets with donor restrictions | $48,362 |
| 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 | $2,104,734 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wednesday Music Club has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Joseph And Robert Cornell Memorial Foundation Charlottesville, VA PURPOSE: GRANT IS FOR DONEE'S EXEMPT PURPOSE | $10,000 |
Endowment Analysis
| Beg. Balance | $308,739 |
| Earnings | -$57,188 |
| Admin Expense | $3,026 |
| Grants | $7,617 |
| Ending Balance | $240,908 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
National Association Of Student Financial Aid Administrators Washington, DC | $22,189,727 | $10,008,615 |
Cobell Board Of Trustees Washington, DC | $177,171,131 | $17,842,265 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Laura Holland Uzzell Foundation Morrisville, NC | $14,769,987 | $6,660,101 |
Catholic Education Foundation Inc Louisville, KY | $34,954,329 | $8,681,774 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |
Chi Omega Foundation Memphis, TN | $45,483,838 | $7,373,045 |
Maryland Philanthropy Network Inc Baltimore, MD | $5,808,264 | $5,920,100 |
Memphis Teacher Residency Inc Memphis, TN | $5,540,031 | $6,575,161 |
Student Freedom Initiative Inc Washington, DC | $132,770,538 | $15,285,825 |
Meor Inc Silver Spring, MD | $283,304 | $5,067,456 |