Five Points Music Foundation FY2022 filing

Tax-deductible

Roanoke, VA501(c)(3)Arts & CultureEIN 81-5047254Revenue $623K in FY2022

On file with the IRS5pointsmusic.com1217 Maple Ave Sw, 24016-4707 · Roanoke, VATax-exempt since Nov 2017Publicly supported — 509(a)(2)

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Provide a concert experience that prioritizes the hard of hearing and deaf community; conduct Music therapy sessions for children with developmental, neurologic, and intellectual differences as well as children with emotional challenges; and provide Music lessons for those with hearing loss of those who may benefit from learning to play an instrument.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$44K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
2 of 4
filings with a surplus
Average surplus $48K a year · 6% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$44K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $6K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$36K
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$623K
-8% vs prior year
Spent
$705K
To programs
90%
Net assets
$118K
By yearFY2020–FY2024
Revenue
$623K
FY2022▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$194K
FY2021$676K
FY2022$623K
FY2023$769K
FY2024$940K
Expenses
$705K
FY2022▲ +61%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$438K
FY2022$705K
FY2023$721K
FY2024$951K
Net assets
$118K
FY2022▼ -41%
Tap a bar for its year
Net assets by fiscal year
FY2020−$39K
FY2021$199K
FY2022$118K
FY2023$166K
FY2024$154K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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 ruling in Nov 2017.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $636K Management & general 5% · $35K Fundraising 5% · $35K

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

7 people listed on the 990; $44K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Dir.
$43,950Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

R Tyler Godsey’s $53K as Executive Dir. is at the 48th percentile of top reported officer pay among 2216 $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 · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
R Tyler Godsey$53,325$44,125$43,950$32,875$12,870
William Kesler———$1,100—
Justin Pinckney$250$213———

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.

See Five Points Music Foundation 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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Offers accessible concerts, music therapy, and lessons for the deaf, hard of hearing, and children with diverse needs.

Provided by the organization

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3 programs · $636K · in their own filed words · FY2022
01

Held live music and other events tailored for the deaf and hard of hearing.

$625Kprogram expense
02

Held regular group music therapy sessions for children with development, neurologic, and intellectual differences as well as children with emotional challenges.

$7Kprogram expense
03

Provided ear plugs at live events and asl interpreter at certain live events

$4Kprogram 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
GE FoundationFY2024$500
Total grants receivedfrom 2 funders$6K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$623K
Ln 12
Fees for servicesLn 2g$393K
Gifts and grantsLn 1h$201K
Other incomeLn 4–11$29K
Money outPt IX
$705K
Ln 25
Programscol B$636K
Managementcol C$35K
Fundraisingcol D$35K
Owns and owesPt X
$118K
net assets · Ln 32
Cash and savingsLn 1–2$79K
Total assetsLn 16$154K
LiabilitiesLn 26$36K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$201K
Government grantsLn 1e$50K
Fundraising eventsLn 1c$15K
Fees for servicesLn 2g$393K
Other incomeLn 4–11$29K
Gains on assetsLn 7$0
Total revenueLn 12$623K
Assets in detailPt X, end of year
CashLn 1$79K
SavingsLn 2$0
Cash and savings togetherLn 1–2$79K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$74K
Other assetsLn 15$0
Total assetsLn 16$154K
LiabilitiesLn 26$36K
Net assetsLn 32$118K
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$191K$79K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$61K$74K
Total assetsLn 16$253K$154K
LiabilitiesLn 26$53K$36K
Net assetsLn 32$199K$118K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$44K$40K$2K$2K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$4K$4K$197$196
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$6K$5K$303$302
Advertising and promotionLn 12$37K$33K$2K$2K
Office expensesLn 13$7K$6K$340$339
Information technologyLn 14$1K$1K$66$66
RoyaltiesLn 15$0
OccupancyLn 16$39K$35K$2K$2K
TravelLn 17$2K$1K$76$75
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$105$95$5$5
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$11K$10K$550$550
InsuranceLn 23$3K$3K$146$145
Other expenses (24a–d)Ln 24$405K$364K$20K$20K
All other expensesLn 24e$147K$133K$7K$7K
Total functional expensesLn 25$705K$636K$35K$35K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $940K$951K−$11K$154K 990 PDF
FY2023 $769K$721K$48K$166K 990 PDF
FY2022 Viewing $623K$705K−$82K$118K 990 PDF
FY2021 $676K$438K$238K$199K 990 PDF
FY2020 $194K−$39K 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 FY2022 990 (6 parts)
Part I · Summary $623,273 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $448,496$201,179
I-9 Program service revenuePrior year $220,738$392,888
I-10 Investment income$0
I-11 Other revenuePrior year $7,237$29,206
I-12 Total revenuePrior year $676,471$623,273
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $33,975$43,950
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $404,384$661,021
I-18 Total expensesPrior year $438,359$704,971
I-19 Revenue less expensesPrior year $238,112−$81,698
Part VI · Governance 6 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $623,273 across 11 lines filed
VIII-1c Fundraising events$14,890
VIII-1e Government grants$50,000
VIII-1f All other contributions, gifts and grants$136,289
VIII-1h Total contributions, gifts and grants$201,179
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $391,688 · Excluded from tax $1,200$392,888
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or lossExcluded from tax $36,826$36,826
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising eventsExcluded from tax −$7,620−$7,620
VIII-12 Total revenueRelated to mission $391,688 · Excluded from tax $30,406$623,273
Part IX · Statement of functional expenses $704,971 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $39,555 · Management $2,198 · Fundraising $2,197$43,950
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $3,542 · Management $197 · Fundraising $196$3,935
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $5,442 · Management $303 · Fundraising $302$6,047
IX-12 Advertising and promotionPrograms $33,098 · Management $1,839 · Fundraising $1,839$36,776
IX-13 Office expensesPrograms $6,108 · Management $340 · Fundraising $339$6,787
IX-14 Information technologyPrograms $1,189 · Management $66 · Fundraising $66$1,321
IX-15 Royalties$0
IX-16 OccupancyPrograms $35,100 · Management $1,950 · Fundraising $1,950$39,000
IX-17 TravelPrograms $1,361 · Management $76 · Fundraising $75$1,512
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $95 · Management $5 · Fundraising $5$105
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $9,898 · Management $550 · Fundraising $550$10,998
IX-23 InsurancePrograms $2,622 · Management $146 · Fundraising $145$2,913
IX-24 Other expenses (24a–d)Programs $364,209 · Management $20,235 · Fundraising $20,233$404,677
IX-24e All other expensesPrograms $133,337 · Management $6,810 · Fundraising $6,803$146,950
IX-25 Total functional expensesPrograms $635,556 · Management $34,715 · Fundraising $34,700$704,971
Part X · Balance sheet $153,885 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $191,451$79,480
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $61,193$74,405
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $252,644$153,885
X-17 Accounts payable and accrued expensesStart of year $3,796$1,282
X-19 Deferred revenueStart of year $500$500
X-25 Other liabilitiesStart of year $3,655$1,525
X-26 Total liabilitiesStart of year $53,255$36,194
X-27 Net assets without donor restrictionsStart of year $199,389$117,691
X-32 Total net assets or fund balancesStart of year $199,389$117,691
X-33 Total liabilities and net assetsStart of year $252,644$153,885
Part XI · Reconciliation of net assets $117,691 net assets at year end
XI-1 Total revenue$623,273
XI-2 Total expenses$704,971
XI-3 Revenue less expenses−$81,698
XI-4 Net assets at start of year$199,389
XI-10 Net assets at end of year$117,691

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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