National Academy Of Recording Arts & Sciences Inc
- Assets
- $144.8m
- Revenue
- $73.7m
- Investments
- $11.5k
- Employees
- 186
- Location
- Santa Monica, CA
- Founding
- 03/1988
- Data as of
- 07/2021
- EIN
- 95-6052058
Organization Overview
National Academy Of Recording Arts & Sciences Inc, operating under the name Recording Academy, is located in Santa Monica, CA. The organization was established in 1988. According to its NTEE Classification (A03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 07/2021, Recording Academy employed 186 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Recording Academy is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 07/2021, Recording Academy generated $73.7m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $79.9m during the year ending 07/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Recording Academy has awarded 74 individual grants totaling $71,535,443. 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
OUR MISSION IS TO ADVANCE THE ARTS AND SCIENCES OF RECORDING AND TO FOSTER CREATIVE LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RECORDING ACADEMY PRODUCES THE GRAMMY AWARDS, THE ONLY PEER-PRESENTED AWARD TO HONOR ARTISTIC ACHIEVEMENT, TECHNICAL PROFICIENCY AND EXCELLENCE IN THE RECORDING INDUSTRY, WITHOUT REGARD TO ALBUM SALES OR CHART POSITION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Branden Chapman Chief Operating Officer | Officer | 40 | $487,945 |
Daryl Friedman Chief Advocacy & Public Policy Offcr | Officer | 40 | $478,616 |
Wayne Zahner Chief Financial Officer | Officer | 40 | $417,694 |
William Freimuth Chief Awards Officer | Officer | 40 | $350,241 |
Richard Engdahl Chief Information Officer | 40 | $316,516 | |
Lisa Farris Chief Marketing & Innovation Officer | 40 | $306,073 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Greenberg Traurig Llp- Forum Legal Services | 7/30/21 | $1,423,788 |
Young Bull Productions Inc Event Production | 7/30/21 | $1,500,000 |
Aeg Ehrlich Ventures Llc Event Production | 7/30/21 | $12,927,447 |
Fulwell 73 Uk Limited Event Production | 7/30/21 | $4,974,200 |
Proskauer Rose Llp Legal Services | 7/30/21 | $3,732,642 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,197,707 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,197,707 |
| Total Program Service Revenue | $63,255,398 |
| Investment income | $5,645,004 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,347,835 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,676,850 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $73,681,549 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,020,451 |
| Grants and other assistance to domestic individuals. | $25,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,418,223 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,459,121 |
| Pension plan accruals and contributions | $360,529 |
| Other employee benefits | $2,559,843 |
| Payroll taxes | $1,360,001 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,743,656 |
| Fees for services: Accounting | $421,983 |
| Fees for services: Lobbying | $150,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $636,937 |
| Fees for services: Other | $3,887,587 |
| Advertising and promotion | $3,198,526 |
| Office expenses | $1,986,819 |
| Information technology | $1,789,623 |
| Royalties | $0 |
| Occupancy | $5,208,254 |
| Travel | $214,352 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,236 |
| Interest | $33,644 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $513,679 |
| Insurance | $1,076,370 |
| All other expenses | $182,884 |
| Total functional expenses | $79,879,674 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,288 |
| Savings and temporary cash investments | $8,579,005 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,154,793 |
| 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 | $2,662,599 |
| Net Land, buildings, and equipment | $1,720,750 |
| Investments—publicly traded securities | $108,784,536 |
| Investments—other securities | $11,456 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,851,851 |
| Total assets | $144,766,278 |
| Accounts payable and accrued expenses | $9,653,089 |
| Grants payable | $0 |
| Deferred revenue | $17,877,563 |
| 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 | $128,264 |
| Total liabilities | $27,658,916 |
| Net assets without donor restrictions | $117,107,362 |
| 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 | $144,766,278 |
Grants Awarded
Over the last fiscal year, National Academy Of Recording Arts & Sciences Inc has awarded $5,972,451 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Los Angeles, CA PURPOSE: CONTRIBUTIONS AND PROGRAM SERVICE SUPPORT | $2,992,030 |
Santa Monica, CA PURPOSE: CONTRIBUTIONS AND PROGRAM SERVICE SUPPORT | $2,655,852 |
Doral, FL PURPOSE: GENERAL SUPPORT | $150,000 |
New York, NY PURPOSE: GENERAL SUPPORT | $149,569 |
ARIZONA STATE UNIVERSITY PURPOSE: WOMAN IN THE MIX STUDY | $15,000 |
Boston, MA PURPOSE: WOMAN IN THE MIX STUDY | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that National Academy Of Recording Arts & Sciences Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Engelstad Fam Foundation Las Vegas, NV PURPOSE: PROGRAM SUPPORT | $25,000 |
Endowment Analysis
| Beg. Balance | $89,675,816 |
| Earnings | $19,745,657 |
| Admin Expense | $636,937 |
| Ending Balance | $108,784,536 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Academy Of Motion Picture Arts & Sciences Beverly Hills, CA | $649,892,944 | $134,881,744 |
National Academy Of Recording Arts & Sciences Inc Santa Monica, CA | $144,766,278 | $73,681,549 |
Motion Picture Association Inc Sherman Oaks, CA | $108,255,897 | $67,676,468 |
Corporation Of The Fine Arts Museums San Francisco, CA | $25,314,782 | $33,204,233 |
Academy Of Television Arts & Sciences North Hollywood, CA | $47,799,821 | $32,981,149 |
National Association Of Music Merchants Inc Carlsbad, CA | $38,472,951 | $7,155,207 |
Alliance Of Motion Picture And Television Producers Sherman Oaks, CA | $33,962,250 | $11,765,275 |
Independent Film & Television Alliance Los Angeles, CA | $7,047,401 | $9,016,893 |
Academy Of Country Music Burbank, CA | $15,432,642 | $15,266,512 |
California Cable & Telecommunications Sacramento, CA | $2,703,069 | $3,132,593 |
National Association Of Television Program Executives Inc Studio City, CA | $2,616,816 | $974,629 |
Peter Britt Gardens Music And Arts Festival Association Medford, OR | $10,872,514 | $3,945,941 |