Redtone Records EIN 83-1901032 Form 990 (PDF) Claim this org

Redtone Records FY2023 filing

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Creates free music and video for cultural artists, preserving global roots music and fostering youth songwriting. For fiscal year 2023 it reported $396K in revenue, $463K in expenses, and $-88K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
E Palo Alto, CA
Website
www.redtonerecords.com
Filings
6 on file (2019–2023)
Revenue
$396KFY2023
Expenses
$463K
Net assets
$-88K
People
3
Filings
6
Updates
0
More identity details & actions ⌄
EIN  83-1901032 Public charity (501(c)(3)) E Palo Alto, CA
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Creates free music and video for cultural artists, preserving global roots music and fostering youth songwriting.
Leadership
Justin Phipps · Ed/Pres/Boar · $14K
Money in and out
$396K revenue, $463K expenses
Bottom line
93% program efficiency
Where the money goes · FY2023
Total revenue
$396K
Pt VIII · Ln 12
Total expenses
$463K
Pt IX · Ln 25
Net assets
$-88K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$67K
Where spending went · Part IX cols B–D
Program services $0.93 Management & general $0.04 Fundraising $0.03
Program efficiency
93%
of spending reaches programs
Operating runway
0.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
-17%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$396K
FY2023▲ +16%
Expenses
$463K
FY2023▲ +26%
Total assets
$53K
FY2023▼ -47%
Total liabilities
$141K
FY2023▲ +16%
Total revenue
$396K
Pt VIII · Ln 12
Total expenses
$463K
Pt IX · Ln 25
Net assets
$-88K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$67K
Total assetsPt X · Ln 16$53K
Program-expense ratioPt IX · col B93%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 42

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CRedtone Records
EINHdr · item D83-1901032
Principal addressHdr · item CE Palo Alto, CA
WebsiteHdr · item Jwww.redtonerecords.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A68)
Ruling yearIRS BMFOct 2019

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b2
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Ed/Pres/Boar
$14,230Pt VII · Sec A
Board/Treas/
$0Pt VII · Sec A
$0Pt VII · Sec A

Justin Phipps’s $34K as Ed/Pres/Boar is at the 29th percentile of top reported officer pay among 2213 $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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Justin Phipps$33,950$14,230$7,470$55,385$61,095

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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Mission & Programs · Part III

Where the work happens

1 program service account for $430K of program spending, described in the organization's own filed words · FY2023.
01

Fulfilling a longtime goal, in 2023 we brought on tiffani marie as redtone co-ceo alongside our founder, justin phipps. Tiffani is not only an influential musical artist, activist, and educator but also a visionary whose groundbreaking doctoral work in black health and wellness is helping to shape and sharpen redtones organizational…

$430Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$203K · 51%
Contributions & grants$192K · 49%
Program service revenue51%$203K
Contributions & grants49%$192K
Total revenueLn 12$396K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.93 Management & general $0.04 Fundraising $0.03
Program services93%$430K
Management & general4%$18K
Fundraising3%$15K
Total functional expensesLn 25$463K

Balance Sheet

Part X · end of year
CashLn 1$30K
Total assetsLn 16$53K
Total liabilitiesLn 26$141K
Total net assetsLn 32$-88K
Months of cash on handcomputed0.8

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $30K · Operating expenses/yr $463K
0.8 months
Where the money goes
Program services
Program services $430K · Total expenses $463K
93%
Management & General
Management & general $18K · Total expenses $463K
4%
Fundraising
Fundraising $15K · Total expenses $463K
3%
Cost to raise $1
Fundraising expense (3-yr avg) $22K · Solicited contributions (3-yr avg) $233K
$0.09 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $192K · Total revenue $396K
49%
Government reliance
Government grants — · Total revenue $396K
Earned-income share
Program service revenue $203K · Total revenue $396K
51%
Investment reliance
Investment income $0 · Total revenue $396K
0%
Program self-sufficiency
Program service revenue $203K · Total expenses $463K
44%
Growth & trend
Revenue growth (YoY)
This year $396K · Prior year $342K
+16%
Revenue CAGR
FY2019 $154K · FY2023 $396K
+27%
Net-asset trend (YoY)
End of year $-88K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $396K · Expenses $463K
-17%
Liabilities-to-Assets
Total liabilities — · Total assets $53K
Net-asset ratio
Net assets $-88K · Total assets $53K
-167%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $53K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Justin Phipps · Reported title ED/PRES/BOAR · Highest reported compensation $14K · Total expenses $463K
3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $463K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 93%
Overhead ratio 4%
Fundraising cost ratio 8%
Revenue growth 16%
Accounting fee ratio 0.6%

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.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$170K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$593K revenue · ⤓ 990 PDF
FY2023$396K revenue · viewing · ⤓ 990 PDF
FY2022$342K revenue · ⤓ 990 PDF
FY2021$302K revenue · ⤓ 990 PDF
FY2020$54K revenue · ⤓ 990 PDF
FY2019$154K revenue · ⤓ 990 PDF

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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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