Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1943.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
84 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
17 people listed on the 990; $77K paid to officers and key staff.
Keri M Shultz’s $90K as President is at the 24th percentile of top reported officer pay among 3924 $1–10M 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 · 1 named individual · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Keri M Shultz | $89,543 | $84,293 | $83,407 | $76,811 | $76,952 | $74,000 |
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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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Promotes music education, advocacy, and performances in Greater Reading.
Questions for Reading Musical Foundation
Your first name shows with your question. Reading Musical Foundation answers here, for everyone.
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Appropriations to Music Presenters and Special Projects
Grants are provided for cultural development to music presenting organizations that perform primarily in berks county. Funding support was provided to 23 musical organizations and programs. Grants awarded based upon the ORGANIZATION/PROGRAM'S ability to relate to the mission of the reading musical foundation.
Student scholarships- the scholarship program provides financial assistance for committed berks county music students who audition on merit or demonstrate a financial need. Merit scholarships include the areas of piano & organ, woodwind, brass & percussion, string & harp, vocal and college tuition.
Music Outreach
Music outreach programs share the musical experience with members of the community who may not be able to pay for or appreciate why it is worth paying for. Programs include operation replay (instrument recycling), music in the schools, after-school instructional programs, workshops and master classes.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $231K | $159K |
| InvestmentsLn 11–13 | $12.0M | $15.6M |
| Land, buildings, equipmentLn 10c | $7K | $4K |
| Total assetsLn 16 | $16.3M | $20.6M |
| LiabilitiesLn 26 | $307K | $313K |
| Net assetsLn 32 | $15.9M | $20.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $267K | $267K | ||
| Grants to domestic individualsLn 2 | $202K | $202K | ||
| Pay of current officers, directors and key staffLn 5 | $78K | $50K | $20K | $8K |
| Other salaries and wagesLn 7 | $83K | $50K | $25K | $8K |
| Pension plan contributionsLn 8 | $2K | $1K | $751 | $150 |
| Payroll taxesLn 10 | $11K | $6K | $4K | $856 |
| Accounting feesLn 11c | $14K | $8K | $6K | |
| Investment management feesLn 11f | $25K | $8K | $16K | |
| Advertising and promotionLn 12 | $19K | $15K | $4K | |
| Office expensesLn 13 | $30K | $15K | $11K | $4K |
| Information technologyLn 14 | $5K | $3K | $1K | $1K |
| OccupancyLn 16 | $16K | $11K | $2K | $2K |
| Depreciation, depletion and amortizationLn 22 | $3K | $3K | ||
| Other expenses (24a–d)Ln 24 | $10K | $51 | $10K | |
| Total functional expensesLn 25 | $765K | $641K | $86K | $38K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $1.5M | $1.1M | $386K | $23.2M | 990 PDF |
| FY2024 | $1.5M | $1.2M | $292K | $21.2M | 990 PDF |
| FY2023 | $1.7M | $1.1M | $651K | $19.1M | 990 PDF |
| FY2022 | $3.5M | $940K | $2.6M | $17.3M | 990 PDF |
| FY2021 Viewing | $1.5M | $765K | $710K | $20.3M | 990 PDF |
| FY2020 | $1.4M | $1.1M | $356K | $15.9M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $1,474,447 revenue, 12 lines filed
Part VI · Governance 16 of 16 board members independent, 1 to look at
Part VIII · Statement of revenue $1,474,447 across 9 lines filed
Part IX · Statement of functional expenses $764,826 across 14 lines filed
Part X · Balance sheet $20,635,939 assets, 16 lines filed
Part XI · Reconciliation of net assets $20,322,642 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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