FOUNDATIONS OF MUSIC Charity Report

Tax-exempt status may be revoked

FOUNDATIONS OF MUSIC

EIN 36-3683597 · Gift Distribution (P58)

What they do

to PROVIDE MUSIC EDUCATION to UNDERSERVED CHICAGO PUBLIC SCHOOL STUDENTS, SPARKING CREATIVITY and PASSION, TEACHING CRITICAL THINKING, SUPPORTING ACADEMIC ACHIEVEMENT, and ENRICHING YOUNG LIVES. FOUNDATIONS of MUSIC PROVIDES FREE YEAR-ROUND MUSIC EDUCATION, POSITIVELY IMPACTING and CELEBRATING YOUNG LIVES BY OFFERING ACCESS to SAFE and CONSTRUCTIVE LEARNING EXPERIENCES THROUGH WHICH CHILDREN MAY CHALLENGE THEMSELVES, BUILD SELF-ESTEEM and EXPLORE THEIR OWN CREATIVE POTENTIAL.

Before you give

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Easy charity check

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This record may have an IRS status problem. Do not give until you verify it.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkThere may be a problem with its nonprofit status. Check before giving.

Money report from 2018The report may be old. Ask for a newer one.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders12 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

60.22%of revenue went to mission work54.6% of expenses · Program services

18.01%of revenue went to fundraising16.3% of expenses

$110.29spent for every $100 of revenueSpending was higher than revenue this year.

32.07%of revenue went to management and office costs29.1% of expenses

$0.36in assets for every $1 spent this yearSome assets cannot be spent right away.

72.5%of its money came from giftsOther money may come from services or investments.

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Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $26,677 this year. Ask whether that was planned or caused by a one-time event.

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Money

Financial picture

Tax year 2018

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$259,258

Mission workProgram services$156,12160.22% of revenue54.6% of expenses

ManagementOffice and general costs$83,13232.07% of revenue29.1% of expenses

FundraisingAsking for donations$46,68218.01% of revenue16.3% of expenses

Total expenses$285,935110.29% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2018CurrentExpense mix: 54.6% mission · 29.1% management · 16.3% fundraisingTotal expenses: 110.29% of revenue

2017Expense mix: 58.1% mission · 24.8% management · 17.2% fundraisingTotal expenses: 124.04% of revenue

2016Expense mix: 57.0% mission · 23.7% management · 19.3% fundraisingTotal expenses: 103.01% of revenue

Money in and money out

Revenue$259,258

Expenses$285,935

Annual shortfall $26,677 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$156,121 · 54.6% of expenses

Management and office costs$83,132 · 29.1% of expenses

Fundraising$46,682 · 16.3% of expenses

See all reported dollar amounts

Revenue$259,258

Expenses$285,935

Assets$103,560

Income$269,607

Contributions$187,936

Mission work (program services)$156,121

Fundraising$46,682

Management and general$83,132

Accounting fees$14,250

People

Leadership and board

Tax year 2018

Names, titles, time, and compensation below are reported by the organization on its Form 990.

No compensation was reported for these leaders. The complete board and leadership roster is shown below.

Board and leadership roster (12)

ABRAHAM LEVITANTREASURER

BREANDA FINEBERGEXECUTIVE DIRECTOR

DOMINIQUE BATTLEDIRECTOR

JASON WRIGHTDIRECTOR

JEFFREY EBERHARDDIRECTOR

KIMBERLY STIFFLESECRETARY

KRISTEN CONRYVICE PRESIDENT

LAURIE MILLERPRESIDENT

LINDA BERNADIRECTOR

NIKKI HARTELDIRECTOR

ROBERT GOMEZDIRECTOR

STEVE STEINMEYERDIRECTOR

About this charity

Location: 641 W LAKE ST SUITE 200, CHICAGO, IL 60661
County: Cook
In care of: BRENDA FINEBERG
Primary officer: BRENDA FINEBERG, EXECUTIVE DIRECTOR

How to reach them

WebsiteVisit the charity’s website Phone(773) 281-9454

Filing and classification

Latest tax year: 2018
Tax period began: July 1, 2018
Return type: 990
Tax preparer: THE ACT GROUP LLC
NTEE classification: Gift Distribution (P58)
IRS tax category: Gift Distribution
Revocation date: November 15, 2022