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Tms West

Tax-deductible

Cleveland, OH501(c)(3)Since 2016Arts & CultureEIN 81-2226622

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Tms West, wholly owned by the music settlement, was incorporated in the state of ohio as a not-for-profit organization for the purpose of establishing a qualified active low- income community business participating in a new markets tax credit (nmtc) real estate development project on cleveland's West side. Tms West owns a commercial unit in a new mixed-use residential and commercial building constructed in 2018. Under a long-term agreement Tms West leases its facility to the music settlement for operating its programs on cleveland's West side. The music settlement's programs at this location include early childhood, music lessons and music therapy services.

501(c)(3) charity; gifts are tax-deductible.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
1 of 5
filings with a surplus
Average surplus $764K a year · 81% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$0
-100% vs prior year
Spent
$100K
Net assets
$3.4M
By yearFY2020–FY2024
Revenue
$0
FY2024▼ -100%
Revenue by fiscal year
FY2020$26K
FY2021$54K
FY2022$88K
FY2023$81K
FY2024$4.4M
FY2024$0
Expenses
$100K
FY2024>-0.01%
Expenses by fiscal year
FY2020$191K
FY2021$191K
FY2022$191K
FY2023$201K
FY2024$100K
FY2024$100K
Net assets
$3.4M
FY2024▼ -3%
Net assets by fiscal year
FY2020−$484K
FY2021−$621K
FY2022−$724K
FY2023−$845K
FY2024$3.5M
FY2024$3.4M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2016.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $100K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Maura L Hughes
Chairperson
$0Pt VII · Sec A
John W Waldeck JR
Vice President & Treasurer
$0Pt VII · Sec A
Deborah a Wilcox
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Tms West 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 15aNo

Programs and updates

Develops real estate for community music and arts programs on Cleveland's West Side.

Provided by the organization

This section is blank until Tms West claims this page.

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1 program service, described in the organization's own filed words · FY2024.
01

There were no applicable program services this fiscal year.

Pt IX · col B

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Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$0
Ln 12
Money outPt IX
$100K
Ln 25
Managementcol C$100K
Owns and owesPt X
$3.4M
net assets · Ln 32
Cash and savingsLn 1–2$4
Total assetsLn 16$3.4M
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Total revenueLn 12$0
Assets in detailPt X, end of year
CashLn 1$4
Cash and savings togetherLn 1–2$4
Land, buildings, equipmentLn 10c$3.4M
Total assetsLn 16$3.4M
LiabilitiesLn 26$0
Net assetsLn 32$3.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
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 FY24End FY24
Cash and savingsLn 1–2$6$4
Land, buildings, equipmentLn 10c$3.5M$3.4M
Total assetsLn 16$3.5M$3.4M
LiabilitiesLn 26$0$0
Net assetsLn 32$3.5M$3.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Depreciation, depletion and amortizationLn 22$100K$100K
Total functional expensesLn 25$100K$0$100K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $4.4M$100K$4.3M$3.5M 990 PDF
FY2023 $81K$201K−$120K−$845K 990 PDF
FY2022 $88K$191K−$103K−$724K 990 PDF
FY2021 $54K$191K−$138K−$621K 990 PDF
FY2020 $26K$191K−$165K−$484K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $0 across 1 lines filed
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
Part IX · Statement of functional expenses $100,289 across 1 line filed
IX-22 Depreciation, depletion and amortizationManagement $100,289$100,289
IX-25 Total functional expensesPrograms $0 · Management $100,289 · Fundraising $0$100,289
Part X · Balance sheet $3,401,965 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $6$4
X-10c Land, buildings and equipment, netStart of year $3,502,248$3,401,961
X-16 Total assetsStart of year $3,502,254$3,401,965
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $3,502,254$3,401,965
X-32 Total net assets or fund balancesStart of year $3,502,254$3,401,965
X-33 Total liabilities and net assetsStart of year $3,502,254$3,401,965
Part XI · Reconciliation of net assets $3,401,965 net assets at year end
XI-1 Total revenue$0
XI-2 Total expenses$100,289
XI-3 Revenue less expenses−$100,289
XI-4 Net assets at start of year$3,502,254
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,401,965

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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