The Residency seeks to build a powerful community of young hip-hop artists equipped with the artistic and leadership skills, business acumen, and mentorship necessary to become professional artists and cultural change makers. Through their participation in the Residency, young artists from low-income families in the seattle area acquire tangible artistic and professional skills while also gaining confidence, teamwork, and a deepened understanding of their own identity and power.the year-round program includes a month long intensive workshop where up to 45 young people participate in either a vocal or production track. During the intensive, youth write original songs, record in a professional studio and perform in front of hundreds of people at a premiere seattle venue. In addition to making, recording and performing their music, the youth participate in a number of engaging panel discussions with leaders in the northwest creative community.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
4 of 5
filings with a surplus
Average surplus $183K a year · 31% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
20 mo
of spending, in cash
Looks good: 19.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $1.0M
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$23K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
+66% vs prior year
Spent
$557K
To programs
74%
Net assets
$917K
By yearFY2020–FY2024
Revenue
$1.1M
FY2024▲ +66%
Tap a bar for its year
Revenue by fiscal year
FY2020$274K
FY2021$254K
FY2022$584K
FY2023$686K
FY2024$1.1M
FY2024$531K
Expenses
$557K
FY2024▼ -14%
Tap a bar for its year
Expenses by fiscal year
FY2020$89K
FY2021$277K
FY2022$447K
FY2023$649K
FY2024$557K
FY2024$324K
Net assets
$917K
FY2024▲ +173%
Tap a bar for its year
Net assets by fiscal year
FY2020$185K
FY2021$161K
FY2022$298K
FY2023$336K
FY2024$917K
FY2024$1.1M

From the FY2024 Form 990 (year ending June 2024) · see the original

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You’re viewing the FY2024 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 Jun 2020.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $414K Management & general 12% · $69K Fundraising 13% · $74K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President, Treasurer, Dire
$0Pt VII · Sec A
Secretary, Director
$0Pt VII · Sec A
Vice President, Director
$0Pt VII · Sec A
See The Residency 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowers young hip-hop artists with skills and mentorship to become professionals and leaders.

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Provided by the organization

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2 programs · $414K · in their own filed words · FY2023
01

Month long intensive workshop where up to 45 young people (ages 16-24) participate in either a vocal or production track. During the intensive, youth write original songs, record in a professional studio and perform in front of hundreds of people at a premiere seattle venue.

$221Kprogram expense
02

The year-round program includes participating in performances in front of hundreds of people at a premiere seattle venue and a number of engaging panel discussions with leaders in the northwest creative community.

$194Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
See all 6 funders →
Grants paid · 2 grants · $32K · 2023–2024
Unitemized GrantFY2024$21,180
Unitemized GrantFY2023$10,560

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.1M
Ln 12
Gifts and grantsLn 1h$1.1M
Fees for servicesLn 2g$19K
Money outPt IX
$557K
Ln 25
Programscol B$414K
Managementcol C$69K
Fundraisingcol D$74K
Owns and owesPt X
$917K
net assets · Ln 32
Cash and savingsLn 1–2$924K
Total assetsLn 16$940K
LiabilitiesLn 26$23K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$40K
Fees for servicesLn 2g$19K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$424K
SavingsLn 2$500K
Cash and savings togetherLn 1–2$924K
Total assetsLn 16$940K
LiabilitiesLn 26$23K
Net assetsLn 32$917K
OperationsPt I, VI
EmployeesI 512
VolunteersI 63
Fiscal year endsHeaderJune
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 FY24End FY24
Cash and savingsLn 1–2$321K$924K
Total assetsLn 16$357K$940K
LiabilitiesLn 26$22K$23K
Net assetsLn 32$336K$917K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$11K$11K
Other salaries and wagesLn 7$268K$228K$27K$13K
Other employee benefitsLn 9$9K$9K
Payroll taxesLn 10$23K$537$22K
Legal feesLn 11b$1K$930$116$116
Accounting feesLn 11c$17K$13K$2K$2K
Professional fundraising feesLn 11e$41K$41K
Other fees for servicesLn 11g$55K$42K$4K$8K
Advertising and promotionLn 12$5K$5K$166
Office expensesLn 13$2K$2K$158$158
OccupancyLn 16$20K$20K$565−$175
TravelLn 17$5K$5K
InsuranceLn 23$11K$9K$1K$1K
Other expenses (24a–d)Ln 24$67K$62K$2K$3K
All other expensesLn 24e$23K$16K$978$5K
Total functional expensesLn 25$557K$414K$69K$74K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $1.1M$557K$581K$917K 990 PDF
FY2023 $686K$649K$37K$336K 990 PDF
FY2022 $584K$447K$137K$298K 990 PDF
FY2021 $254K$277K−$23K$161K 990 PDF
FY2020 $274K$89K$185K$185K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,137,830 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $823,519$1,119,276
I-9 Program service revenuePrior year $50,700$18,554
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year −$187,841$0
I-12 Total revenuePrior year $686,378$1,137,830
I-13 Grants and similar amounts paidPrior year $1,192$10,560
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $312,033$299,743
I-16a Professional fundraising feesPrior year $28,770$41,100
I-17 Other expensesPrior year $307,046$205,474
I-18 Total expensesPrior year $649,041$556,877
I-19 Revenue less expensesPrior year $37,337$580,953
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $1,137,830 across 5 lines filed
VIII-1e Government grants$40,250
VIII-1f All other contributions, gifts and grants$1,079,026
VIII-1h Total contributions, gifts and grants$1,119,276
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $18,554$18,554
VIII-12 Total revenueRelated to mission $18,554 · Unrelated business $0 · Excluded from tax $0$1,137,830
Part IX · Statement of functional expenses $556,877 across 15 lines filed
IX-2 Grants to domestic individualsPrograms $10,560$10,560
IX-7 Other salaries and wagesPrograms $227,967 · Management $26,791 · Fundraising $13,426$268,184
IX-9 Other employee benefitsManagement $8,890$8,890
IX-10 Payroll taxesPrograms $537 · Management $22,132$22,669
IX-11b Legal feesPrograms $930 · Management $116 · Fundraising $116$1,162
IX-11c Accounting feesPrograms $13,219 · Management $1,652 · Fundraising $1,652$16,523
IX-11e Professional fundraising feesFundraising $41,100$41,100
IX-11g Other fees for servicesPrograms $42,303 · Management $4,198 · Fundraising $8,173$54,674
IX-12 Advertising and promotionPrograms $4,957 · Fundraising $166$5,123
IX-13 Office expensesPrograms $1,791 · Management $158 · Fundraising $158$2,107
IX-16 OccupancyPrograms $19,606 · Management $565 · Fundraising −$175$19,996
IX-17 TravelPrograms $5,327$5,327
IX-23 InsurancePrograms $8,928 · Management $1,048 · Fundraising $1,048$11,024
IX-24 Other expenses (24a–d)Programs $61,689 · Management $2,339 · Fundraising $2,589$66,617
IX-24e All other expensesPrograms $16,456 · Management $978 · Fundraising $5,487$22,921
IX-25 Total functional expensesPrograms $414,270 · Management $68,867 · Fundraising $73,740$556,877
Part X · Balance sheet $939,831 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $320,691$423,656
X-2 Savings and temporary cash investments$500,000
X-3 Pledges and grants receivableStart of year $23,218$5,768
X-8 Inventories for sale or useStart of year $4,620$111
X-9 Prepaid expenses and deferred chargesStart of year $8,852$10,296
X-16 Total assetsStart of year $357,381$939,831
X-17 Accounts payable and accrued expensesStart of year $21,711$21,025
X-25 Other liabilitiesStart of year $0$2,183
X-26 Total liabilitiesStart of year $21,711$23,208
X-27 Net assets without donor restrictionsStart of year $324,835$916,623
X-28 Net assets with donor restrictionsStart of year $10,835$0
X-32 Total net assets or fund balancesStart of year $335,670$916,623
X-33 Total liabilities and net assetsStart of year $357,381$939,831
Part XI · Reconciliation of net assets $916,623 net assets at year end
XI-1 Total revenue$1,137,830
XI-2 Total expenses$556,877
XI-3 Revenue less expenses$580,953
XI-4 Net assets at start of year$335,670
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$916,623

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

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