So Percussion INC FY2023 filing

Brooklyn, NY · Public charity (501(c)(3)) · Since 2006 · Arts & Culture

✓ Tax-deductible
Revenue
$890K
+7% vs prior year
Spent
$930K
To programs
76%
Net assets
$526K
By yearFY2020–FY2024
Revenue
$890K
FY2023▲ +7%
Revenue by fiscal year
FY2020$648K
FY2021$590K
FY2022$829K
FY2023$890K
FY2024$901K
FY2024$986K
Expenses
$930K
FY2023▲ +39%
Expenses by fiscal year
FY2020$635K
FY2021$453K
FY2022$668K
FY2023$930K
FY2024$965K
FY2024$1.1M
Net assets
$526K
FY2023▼ -7%
Net assets by fiscal year
FY2020$268K
FY2021$405K
FY2022$566K
FY2023$526K
FY2024$487K
FY2024$421K

From the FY2023 Form 990 (year ending June 2023) · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CSo Percussion INC
EINHdr · item D20-4485651
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFSep 2007
Year of formationHdr · item L2006
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CBrooklyn, NY
NTEE classificationIRS BMFArts & Culture (A68)
WebsiteHdr · item Jsopercussion.com

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.76 Management & general $0.22 Fundraising $0.02
Program services76%$705K
Management & general22%$206K
Fundraising2%$20K
Total functional expensesLn 25$930K

Financial health

Is it on solid ground?

Program efficiency
76%
of spending reaches programs
Operating runway
7.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
-5%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$718K
FY2023▲ +14%
Total assets by fiscal year
FY2020$350K
FY2021$508K
FY2022$631K
FY2023$718K
FY2024$646K
FY2024$548K
Total liabilities
$192K
FY2023▲ +197%
Total liabilities by fiscal year
FY2020$82K
FY2021$102K
FY2022$65K
FY2023$192K
FY2024$159K
FY2024$127K
Revenue less expensesPt I · Ln 19−$40K
Total assetsPt X · Ln 16$718K
Program-expense ratioPt IX · col B76%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

Balance Sheet

Part X · end of year
CashLn 1$479K
Total assetsLn 16$718K
Total liabilitiesLn 26$192K
Total net assetsLn 32$526K
Months of cash on handcomputed6.2

Statement of Revenue

Part VIII
Program service revenue$457K · 51%
Contributions & grants$388K · 44%
Other revenue$38K · 4%
Investment income$7K · 1%
Program service revenue51%$457K
Contributions & grants44%$388K
Other revenue4%$38K
Investment income1%$7K
— government grantsLn 1e$120K
Total revenueLn 12$890K

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $565K · Operating expenses/yr $930K
7.3 months
Where the money goes
Program services
Program services $705K · Total expenses $930K
76%
Management & General
Management & general $206K · Total expenses $930K
22%
Fundraising
Fundraising $20K · Total expenses $930K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $26K · Solicited contributions (3-yr avg) $284K
$0.09 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $388K · Total revenue $890K
44%
Government reliance
Government grants $120K · Total revenue $890K
13%
Earned-income share
Program service revenue $457K · Total revenue $890K
51%
Investment reliance
Investment income $7K · Total revenue $890K
+0.8%
Program self-sufficiency
Program service revenue $457K · Total expenses $930K
49%
Growth & trend
Revenue growth (YoY)
This year $890K · Prior year $829K
+7%
Net-asset trend (YoY)
End of year $526K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $890K · Expenses $930K
-5%
Liabilities-to-Assets
Total liabilities — · Total assets $718K
—
Net-asset ratio
Net assets $526K · Total assets $718K
73%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $86K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $718K
12%
People & payroll
Highest Reported Total Compensation
Individual Tim Thomas · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $2K · Total expenses $930K
0.2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $400K · Total expenses $930K
43%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 76%——
Overhead ratio 22%——
Fundraising cost ratio 5%——
Revenue growth 7%——
Accounting fee ratio 1%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director
$2,000Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair and Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Chair Emeritus
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Charles Fournier
$0Pt VII · Sec A
Charles Fournier
$0Pt VII · Sec A

Tim Thomas’s $108K as Executive Director is at the 91st percentile of top reported officer pay among 2215 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Tim Thomas$108,000$108,000$2,000——
Eric Cha-Beach———$48,618—
Joshua Quillen———$48,618—
Adam Sliwinski———$48,618—
Jason Treuting———$48,618—
Adam Sliwinski————$46,926
Jason Treuting————$46,926
Josh Quillen————$46,926

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Governance & Policies

Part VI
  • 14Voting board membersPt VI · Ln 1a
  • 14Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Promotes and fosters performing arts, growing audiences and participants.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

2 program services account for $705K of program spending, described in the organization's own filed words · FY2022.
01

The organization accomplished its mission through the sponsorship and conduct of seminars,workshops, formal and informal meetings, public presentations, master classes, performances and other exchanges of information. A large number of performances were done on university campuses, as well as lectures on music and other art forms.

$609Kprogram expense
02

The so percussion summer institute (sosi) is an intensive two-week chamber music seminar for college age percussionists and comopsers. The four members of so percussion serve as faculty in rehearsal, performance, and discussion of contemporary music.

$96Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$2K
Grants paid · 2 grants · $17K · 2019–2020
Unitemized GrantFY2020$9,450
Unitemized GrantFY2019$7,812

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $901K$965K+1% 990 PDF
FY2023 Viewing $890K$930K+7% 990 PDF
FY2022 $829K$668K+41% 990 PDF
FY2021 $590K$453K-9% 990 PDF
FY2020 $648K$635K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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