Sound Future Foundation FY2023 filing

Tax-deductible

Charlottesvle, VA501(c)(3)EnvironmentEIN 88-2610473

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Sound Future Foundation ("Foundation") was formed with the goal of researching and developing meaningful solutions to address the environmental impact of live events. Live events are generally not environmentally friendly and have a large carbon footprint because they consume large amounts of energy and create a lot of waste that is not recyclable or compostable.

501(c)(3) charity; gifts are tax-deductible.
41¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
3 of 3
filings with a surplus
Average surplus $65K a year · 14% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
41%
of spending
Concern: 41% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $36K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$65K
33% of total assets
Looks good: liabilities are 33% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 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
$586K
+157% vs prior year
Spent
$532K
To programs
41%
Net assets
$134K
By yearFY2022–FY2024
Revenue
$586K
FY2023▲ +157%
Revenue by fiscal year
FY2022$228K
FY2023$586K
FY2024$590K
Expenses
$532K
FY2023▲ +216%
Expenses by fiscal year
FY2022$169K
FY2023$532K
FY2024$509K
Net assets
$134K
FY2023▲ +126%
Net assets by fiscal year
FY2022$59K
FY2023$134K
FY2024$215K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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 Jul 2022.

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

Where the money goes

41 cents of each dollar spent went to programs.

Program services 41% · $216K Management & general 59% · $316K Fundraising 0% · $400

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Brandy Schultz’s $55K as President is at the 35th percentile of top reported officer pay among 1989 $100K–1M environment 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 · 2 named individuals · Part VII

NameFY2024FY2022
Brandy Schultz$55,385—
Cassie Lee—$50,000

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 Sound Future 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 15aYes
  • Loans to or from officersSch L · Pt II2 listed

Programs and updates

Develops solutions to reduce the environmental impact of live events.

Provided by the organization

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2 programs · $216K · in their own filed words · FY2023
01

Educating the general public regarding solutions live events can and are implementing to lessen their negative environmental impact. The foundation will use the results of its research to advocate widespread adoption of successful practices and solutions in a manner that slows or begins to reverse the negative impact events have on the…

$216Kprogram expense
02

Coordinating and directly conducting research regarding ways the live event industry can operate in a more environmentally sustainable manner.

Pt IX · col B

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 · FY2025
Total grants receivedfrom 1 funder$36K
Grants paid · 1 grant · $8K · 2024–2024
Greenwave Organization CorpCT · FY2024$8,500

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$586K
Ln 12
Gifts and grantsLn 1h$586K
Investment incomeLn 3$11
Money outPt IX
$532K
Ln 25
Programscol B$216K
Managementcol C$316K
Fundraisingcol D$400
Owns and owesPt X
$134K
net assets · Ln 32
Cash and savingsLn 1–2$99K
Total assetsLn 16$199K
LiabilitiesLn 26$65K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$586K
Noncash giftsLn 1g$179K
Investment incomeLn 3$11
Total revenueLn 12$586K
Assets in detailPt X, end of year
CashLn 1$99K
Cash and savings togetherLn 1–2$99K
Other assetsLn 15$100K
Total assetsLn 16$199K
LiabilitiesLn 26$65K
Net assetsLn 32$134K
OperationsPt I, VI
EmployeesI 51
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$145K$99K
Total assetsLn 16$145K$199K
LiabilitiesLn 26$86K$65K
Net assetsLn 32$59K$134K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$300K$300K
Payroll taxesLn 10$14K$14K
Legal feesLn 11b$10K$10K
Advertising and promotionLn 12$150K$150K
TravelLn 17$24K$24K
Conferences, conventions and meetingsLn 19$131$131
InsuranceLn 23$841$841
Other expenses (24a–d)Ln 24$31K$31K
All other expensesLn 24e$1K$927$400
Total functional expensesLn 25$532K$216K$316K$400

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $590K$509K$81K$215K 990 PDF
FY2023 Viewing $586K$532K$53K$134K 990 PDF
FY2022 $228K$169K$59K$59K 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 FY2023 990 (5 parts)
Part I · Summary $585,773 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $227,705$585,762
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $6$11
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $227,711$585,773
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $53,867$314,212
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $114,834$218,097
I-18 Total expensesPrior year $168,701$532,309
I-19 Revenue less expensesPrior year $59,010$53,464
Part VIII · Statement of revenue $585,773 across 5 lines filed
VIII-1f All other contributions, gifts and grants$585,762
VIII-1g Noncash contributions (included above)$178,709
VIII-1h Total contributions, gifts and grants$585,762
VIII-3 Investment incomeExcluded from tax $11$11
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $11$585,773
Part IX · Statement of functional expenses $532,309 across 9 lines filed
IX-5 Pay of current officers, directors and key staffManagement $300,000$300,000
IX-10 Payroll taxesManagement $14,212$14,212
IX-11b Legal feesPrograms $10,489$10,489
IX-12 Advertising and promotionPrograms $150,000$150,000
IX-17 TravelPrograms $23,916$23,916
IX-19 Conferences, conventions and meetingsManagement $131$131
IX-23 InsuranceManagement $841$841
IX-24 Other expenses (24a–d)Programs $31,393$31,393
IX-24e All other expensesManagement $927 · Fundraising $400$1,327
IX-25 Total functional expensesPrograms $215,798 · Management $316,111 · Fundraising $400$532,309
Part X · Balance sheet $198,574 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $144,810$98,574
X-15 Other assetsStart of year $0$100,000
X-16 Total assetsStart of year $144,810$198,574
X-26 Total liabilitiesStart of year $85,800$65,000
X-27 Net assets without donor restrictionsStart of year $59,010$133,574
X-32 Total net assets or fund balancesStart of year $59,010$133,574
X-33 Total liabilities and net assetsStart of year $144,810$198,574
Part XI · Reconciliation of net assets $133,574 net assets at year end
XI-1 Total revenue$585,773
XI-2 Total expenses$532,309
XI-3 Revenue less expenses$53,464
XI-4 Net assets at start of year$59,010
XI-8 Prior period adjustments$21,100
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$133,574

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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