Music & Memory INC FY2023 filing

Mineola, NYUnknown exempt organizationEIN 27-2098431Revenue $221K in FY2023

On file with the IRSmusicandmemory.org160 First Street Po Box 590 · Mineola, NY

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Music & Memory brings personalized Music into the lives of elderly or inform through digital technology, vastly improving quality of life.

61¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $41K a year · 7% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
61%
of spending
Worth a look: 61% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
9
named funders · $119K
Looks good: 9 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$252K
335% of total assets
Concern: liabilities are 335% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$221K
-47% vs prior year
Spent
$337K
To programs
61%
Net assets
−$177K
By yearFY2019–FY2024
Revenue
$221K
FY2023▼ -47%
Tap a bar for its year
Revenue by fiscal year
FY2019$1.5M
FY2020$485K
FY2021$531K
FY2022$417K
FY2023$221K
FY2024$258K
Expenses
$337K
FY2023-0.10%
Tap a bar for its year
Expenses by fiscal year
FY2019$1.4M
FY2020$465K
FY2021$421K
FY2022$337K
FY2023$337K
FY2024$260K
Net assets
−$177K
FY2023▼ -189%
Tap a bar for its year
Net assets by fiscal year
FY2019−$280K
FY2020−$250K
FY2021−$140K
FY2022−$61K
FY2023−$177K
FY2024−$178K

From the FY2023 Form 990 · see the original

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

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

61 cents of each dollar spent went to programs.

Program services 61% · $205K Management & general 25% · $85K Fundraising 14% · $47K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
See Music & Memory INC executive salaries →

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Brings personalized music to elders and those with cognitive challenges, improving their quality of life.

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Provided by the organization

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1 program · $205K · in their own filed words · FY2023
01

Music & memory's personalized music program has been field-tested in thousands of care settings throughout the U.S. And around the world. As a music & memory certified care organization, we introduce music & memory to those in need, and their families as well, to develop personalized playlists for each individual participant while…

$205Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
See all 9 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$221K
Ln 12
Gifts and grantsLn 1h$148K
Fees for servicesLn 2g$55K
Other incomeLn 4–11$18K
Money outPt IX
$337K
Ln 25
Programscol B$205K
Managementcol C$85K
Fundraisingcol D$47K
Owns and owesPt X
−$177K
net assets · Ln 32
Cash and savingsLn 1–2$64K
Total assetsLn 16$75K
LiabilitiesLn 26$252K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$148K
Fees for servicesLn 2g$55K
Other incomeLn 4–11$18K
Total revenueLn 12$221K
Assets in detailPt X, end of year
CashLn 1$64K
Cash and savings togetherLn 1–2$64K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$75K
LiabilitiesLn 26$252K
Net assetsLn 32−$177K
OperationsPt I, VI
EmployeesI 52
VolunteersI 620
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$176K$64K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$185K$75K
LiabilitiesLn 26$246K$252K
Net assetsLn 32−$61K−$177K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$168K$138K$13K$17K
Other employee benefitsLn 9$3K$2K$218$272
Payroll taxesLn 10$13K$10K$1K$1K
Other fees for servicesLn 11g$50K$50K
Advertising and promotionLn 12$3K$2K$7$288
TravelLn 17$165$165
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$87K$41K$17K$28K
All other expensesLn 24e$13K$11K$1K$452
Total functional expensesLn 25$337K$205K$85K$47K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $258K$260K−$1K−$178K 990 PDF
FY2023 Viewing $221K$337K−$116K−$177K 990 PDF
FY2022 $417K$337K$79K−$61K 990 PDF
FY2021 $531K$421K$109K−$140K 990 PDF
FY2020 $485K$465K$20K−$250K 990 PDF
FY2019 $1.5M$1.4M$155K−$280K 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
See the full FY2023 990 (6 parts)
Part I · Summary $221,425 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $275,501$148,110
I-9 Program service revenuePrior year $141,004$55,389
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$17,926
I-12 Total revenuePrior year $416,505$221,425
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $189,548$183,322
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $147,745$153,642
I-18 Total expensesPrior year $337,293$336,964
I-19 Revenue less expensesPrior year $79,212−$115,539
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $221,425 across 5 lines filed
VIII-1f All other contributions, gifts and grants$148,110
VIII-1h Total contributions, gifts and grants$148,110
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $55,389$55,389
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $17,926$17,926
VIII-12 Total revenueRelated to mission $73,315 · Unrelated business $0 · Excluded from tax $0$221,425
Part IX · Statement of functional expenses $336,964 across 9 lines filed
IX-7 Other salaries and wagesPrograms $137,631 · Management $13,427 · Fundraising $16,784$167,842
IX-9 Other employee benefitsPrograms $2,230 · Management $218 · Fundraising $272$2,720
IX-10 Payroll taxesPrograms $10,464 · Management $1,020 · Fundraising $1,276$12,760
IX-11g Other fees for servicesManagement $50,402$50,402
IX-12 Advertising and promotionPrograms $2,206 · Management $7 · Fundraising $288$2,501
IX-17 TravelPrograms $165$165
IX-23 InsuranceManagement $1,323$1,323
IX-24 Other expenses (24a–d)Programs $41,394 · Management $17,413 · Fundraising $27,863$86,670
IX-24e All other expensesPrograms $11,029 · Management $1,100 · Fundraising $452$12,581
IX-25 Total functional expensesPrograms $205,119 · Management $84,910 · Fundraising $46,935$336,964
Part X · Balance sheet $75,091 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $176,218$63,646
X-4 Accounts receivableStart of year $7,458$3,846
X-9 Prepaid expenses and deferred chargesStart of year $843$7,599
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $184,519$75,091
X-17 Accounts payable and accrued expensesStart of year $28,351$13,245
X-19 Deferred revenueStart of year $214,860$233,609
X-25 Other liabilitiesStart of year $2,318$4,786
X-26 Total liabilitiesStart of year $245,529$251,640
X-27 Net assets without donor restrictionsStart of year −$61,010−$176,549
X-32 Total net assets or fund balancesStart of year −$61,010−$176,549
X-33 Total liabilities and net assetsStart of year $184,519$75,091
Part XI · Reconciliation of net assets −$176,549 net assets at year end
XI-1 Total revenue$221,425
XI-2 Total expenses$336,964
XI-3 Revenue less expenses−$115,539
XI-4 Net assets at start of year−$61,010
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$176,549

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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