Musicares Foundation Inc

Organization Overview

Musicares Foundation Inc is located in Santa Monica, CA. The organization was established in 1994. 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 07/2021, Musicares Foundation Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Musicares Foundation 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 07/2020, Musicares Foundation Inc generated $32.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.0% each year . All expenses for the organization totaled $26.9m during the year ending 07/2020. While expenses have increased by 21.3% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

MUSICARES PROVIDES A SAFETY NET OF CRITICAL HEALTH AND WELFARE SERVICES TO THE MUSIC COMMUNITY IN THREE KEY AREAS: MENTAL HEALTH & ADDICTION RECOVERY SERVICES, HEALTH SERVICES, AND HUMAN SERVICES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

COVID-19 RELIEF: MUSICARES PROVIDES FINANCIAL ASSISTANCE OF UP TO $2,000 TO RECORDING INDUSTRY PERSONNEL, INCLUDING CREATIVE AND TECHNICAL PERSONNEL (I.E. MUSICIANS, COMPOSERS, ENGINEERS, PRODUCERS, ETC.), MUSIC BUSINESS STAFF (I.E. RECORD LABEL STAFF, MANAGEMENT COMPANIES, ENTERTAINMENT ATTORNEYS, MUSIC RETAILERS), AND OTHER MEMBERS OF THE MUSIC COMMUNITY WHO HAVE BEEN EMPLOYED IN THE INDUSTRY FOR AT LEAST THREE YEARS. THESE GRANTS ARE MADE AVAILABLE TO MUSIC PEOPLE FACING A LOSS OF WORK AND/OR INCOME DUE TO THE COVID-19 PANDEMIC. THE EMERGENCY FUNDS ARE ISSUED DIRECTLY TO THE APPLICANT.


FINANCIAL ASSISTANCE: MUSICARES PROVIDES UP TO $10,000 ANNUALLY FOR EMERGENCY BASIC LIVING, MEDICAL, OR OTHER NEEDS WITH A LIFETIME MAXIMUM OF $15,000. UNDER EXTRAORDINARY CIRCUMSTANCES, GRANTS MAY BE EXTENDED TO $25,000 BASED UPON A UNIQUE NEED. ASSISTANCE IS PROVIDED TO RECORDING INDUSTRY PERSONNEL, INCLUDING CREATIVE AND TECHNICAL PERSONNEL (I.E. MUSICIANS, COMPOSERS, ENGINEERS, PRODUCERS, ETC.), MUSIC BUSINESS STAFF (I.E. RECORD LABEL STAFF, MANAGEMENT COMPANIES, ENTERTAINMENT ATTORNEYS, MUSIC RETAILERS), AND OTHER MEMBERS OF THE MUSIC COMMUNITY WHO HAVE BEEN EMPLOYED IN THE INDUSTRY FOR AT LEAST FIVE YEARS. THESE GRANTS ARE MADE AVAILABLE TO MUSIC PEOPLE FACING AN UNFORESEEN MEDICAL, PERSONAL, OR FINANCIAL CRISIS. THIS CAN INCLUDE PAYMENTS FOR HEALTH CARE PROFESSIONALS AND PRESCRIPTIONS, RENT/MORTGAGE PAYMENTS, HEALTH INSURANCE PREMIUMS, AND COSTS FOR OTHER BASIC LIVING SUPPORT SERVICES. THROUGH ITS COMMUNITY OUTREACH AND EDUCATION PROGRAMS, THE FOUNDATION ALSO PROVIDES WORKSHOPS, SEMINARS, AND INDIVIDUAL CONSULTATIONS TO MEMBERS OF THE MUSIC COMMUNITY ON TOPICS RELATED TO GENERAL HEALTH AND HUMAN SERVICE NEEDS. IT ALSO PROVIDES IDEAS AND RESOURCES FOR PROACTIVELY ADDRESSING THOSE ISSUES.


MAP FUND: MUSICARES PROVIDES EMERGENCY FINANCIAL ASSISTANCE TO INDIVIDUALS WITHIN THE MUSIC COMMUNITY FACING ADDICTION. ASSISTANCE LIMITS ARE $8,500 PER YEAR WITH A LIFETIME LIMIT OF $15,000. THE PROGRAM MAY PROVIDE PAYMENT FOR INPATIENT TREATMENT, SOBER LIVING, AND/OR OTHER EXPENSES RELATED TO RECOVERY. THE PROGRAM ALSO PROVIDES A SUPPORT NETWORK OF RECOVERY RESOURCES FOR MUSIC PEOPLE WHO ARE TOURING THROUGHOUT THE COUNTRY. IN ADDITION, THE FOUNDATION PROVIDES WORKSHOPS AND COORDINATES MEETINGS OF INDUSTRY PROFESSIONALS TO DISCUSS THE PROBLEMS OF CHEMICAL DEPENDENCY AND DISCUSS SPECIFIC STRATEGIES FOR INTERVENTION FOR INDIVIDUALS WITHIN THE MUSIC COMMUNITY.


MUSICARES ALSO PROVIDES VARIOUS GRANTS TO OTHER TAX-EXEMPT ORGANIZATIONS.


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Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$34,437,501
Investment income $1,074,370
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$897,363
Net Income from Fundraising Events -$2,711,099
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $32,357,649

Grants Recieved

Over the last fiscal year, we have identified 29 grants that Musicares Foundation Inc has recieved totaling $1,307,006.

Awarding OrganizationAmount
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$286,915
Gibson Gives

Nashville, TN

PURPOSE: SUPPORTING MUSIC EDUCATION AND THE ARTS, HEALTH AND WELFARE AND ENVIRONMENTAL ISSUES

$143,000
Gibson Gives

Nashville, TN

PURPOSE: SUPPORTING MUSIC EDUCATION AND THE ARTS, HEALTH AND WELFARE AND ENVIRONMENTAL ISSUES

$143,000
Charities Aid Foundation America

Alexandria, VA

PURPOSE: CHARITABLE DONATION

$106,170
Schwab Charitable Fund

San Francisco, CA

PURPOSE: ARTS, CULTURE & HUMANITIES

$85,850
Wasserman Foundation

Los Angeles, CA

PURPOSE: 31ST ANNUAL PERSON OF THE YEAR BENEFIT GALA

$75,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$10,606,965
Net Contributions$151
Ending Balance$10,607,116

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