Goffin - King Foundation

Tax-deductible

Burbank, CA501(c)(3)Foundations & GrantmakersEIN 83-1975538

To honor and preserve legacy of goffin & king through providing educational opportunities for songwriters, performers and musicians.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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
2 of 4
filings with a surplus
Average surplus $768 a year · 2% 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
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1K
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 1 voting members
Concern: none of 1 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$66K
+442% vs prior year
Spent
$107K
To programs
0%
Net assets
$4K
By yearFY2020–FY2024
Revenue
$66K
FY2024▲ +442%
Revenue by fiscal year
FY2020$3K
FY2021$51K
FY2023$12K
FY2024$66K
Expenses
$107K
FY2024▲ +450%
Expenses by fiscal year
FY2020$3K
FY2021$175
FY2023$19K
FY2024$107K
Net assets
$4K
FY2024▼ -91%
Net assets by fiscal year
FY2020$0
FY2021$52K
FY2023$45K
FY2024$4K

From the FY2024 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2019.

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

Where the money goes

What each dollar paid for.

Management & general 1% · $689 Fundraising 99% · $106K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
See Goffin - King 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

Programs and updates

Empowers songwriters, performers, and musicians with educational opportunities, honoring Goffin & King's legacy.

Provided by the organization

This section is blank until Goffin - King Foundation claims this page.

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

Grant to the arts alliance to further the mission of the organization

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.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$6K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$66K
Ln 12
Gifts and grantsLn 1h$65K
Investment incomeLn 3$1K
Money outPt IX
$107K
Ln 25
Managementcol C$689
Fundraisingcol D$106K
Owns and owesPt X
$4K
net assets · Ln 32
Cash and savingsLn 1–2$5K
Total assetsLn 16$5K
LiabilitiesLn 26$1K
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a1
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$65K
Investment incomeLn 3$1K
Total revenueLn 12$66K
Assets in detailPt X, end of year
CashLn 1$5K
Cash and savings togetherLn 1–2$5K
Total assetsLn 16$5K
LiabilitiesLn 26$1K
Net assetsLn 32$4K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$45K$5K
Total assetsLn 16$45K$5K
LiabilitiesLn 26$0$1K
Net assetsLn 32$45K$4K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$689$689
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$3K$3K
Information technologyLn 14$406$406
TravelLn 17$29K$29K
Conferences, conventions and meetingsLn 19$72K$72K
InsuranceLn 23$176$176
Total functional expensesLn 25$107K$0$689$106K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $66K$107K−$41K$4K 990 PDF
FY2023 $12K$19K−$7K$45K 990 PDF
FY2022 Not on file
FY2021 $51K$175$51K$52K 990 PDF
FY2020 $3K$3K$0$0 990 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 $66,102 across 4 lines filed
VIII-1f All other contributions, gifts and grants$65,017
VIII-1h Total contributions, gifts and grants$65,017
VIII-3 Investment incomeRelated to mission $1,085$1,085
VIII-12 Total revenueRelated to mission $1,085$66,102
Part IX · Statement of functional expenses $106,681 across 7 lines filed
IX-11b Legal feesManagement $689$689
IX-12 Advertising and promotionFundraising $1,905$1,905
IX-13 Office expensesFundraising $2,986$2,986
IX-14 Information technologyFundraising $406$406
IX-17 TravelFundraising $28,622$28,622
IX-19 Conferences, conventions and meetingsFundraising $71,897$71,897
IX-23 InsuranceFundraising $176$176
IX-25 Total functional expensesPrograms $0 · Management $689 · Fundraising $105,992$106,681
Part X · Balance sheet $5,478 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $44,798$5,478
X-16 Total assetsStart of year $44,798$5,478
X-24 Unsecured notes and loans payable$1,259
X-26 Total liabilitiesStart of year $0$1,259
X-27 Net assets without donor restrictionsStart of year $44,798$4,219
X-32 Total net assets or fund balancesStart of year $44,798$4,219
X-33 Total liabilities and net assetsStart of year $44,798$5,478
Part XI · Reconciliation of net assets $4,219 net assets at year end
XI-1 Total revenue$66,102
XI-2 Total expenses$106,681
XI-3 Revenue less expenses−$40,579
XI-4 Net assets at start of year$44,798
XI-10 Net assets at end of year$4,219

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

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