Overview
What is Musical Fund Society Foundation Inc?
Musical Fund Society Foundation Inc, established in 1984, is a nonprofit organization dedicated to contributing to various aspects of music. Their primary objective is to collect and distribute funds for public benefit in relation to music, music education, and musical skill. They also support the art, science, and history of music, aiming to foster a broader appreciation and interest in this art form. The Foundation's mission includes grant-making for musical activities, which further enhances their role in promoting music and music-related initiatives.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Star rating.
The Musical Fund Society Foundation Inc has received an 80% rating from Charity Navigator, which reflects a solid financial health and accountability status. The organization boasts 100% independent board members and has a strong program expense ratio of 76.55%, indicating that a significant portion of its funds is directed towards its programs rather than administrative costs.
However, there are areas for improvement. The absence of a whistleblower policy and a document retention and destruction policy have been noted as limitations, which slightly impacts their overall rating in accountability. Despite these shortcomings, the overall strong governance and low liabilities to assets ratio present a positive picture of the foundation's operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is Musical Fund Society Foundation Inc legitimate?
Musical Fund Society Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Musical Fund Society Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Musical Fund Society Foundation Inc?
The Musical Fund Society Foundation Inc, established in 1984, is a nonprofit organization with a mission to contribute to the public good in various aspects related to music. Its purpose extends to musical education, skill development, and the appreciation of music's art, science, and history. The foundation aims to foster a wider interest in music by distributing funds for relevant activities. As a grant-making entity, it supports initiatives that promote music-related activities.
Who is the CEO of Musical Fund Society Foundation Inc?
Linda Reichert is the President of Musical Fund Society Foundation Inc.
What is the revenue of Musical Fund Society Foundation Inc?
Musical Fund Society Foundation Inc's revenue in 2022 was $97,151.
Who are the executives of Musical Fund Society Foundation Inc and what are their salaries?
There 6 volunteers at Musical Fund Society Foundation Inc.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Musical Fund Society Foundation Inc?
Musical Fund Society Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Musical Fund Society Foundation Inc
The Musical Fund Society Foundation Inc, established in 1984, serves as a nonprofit organization with a mission to contribute to the public good in various aspects related to music. Its purpose extends beyond just music, encompassing musical education and the development of musical skills. The foundation also delves into the art, science, and history of music, aiming to foster a broader appreciation and interest in this art form. The Musical Fund Society Foundation Inc's primary role is to receive and disburse funds, channeling them towards activities that align with its mission. This includes grant-making for musical endeavors, contributing to the broader musical community and fostering the growth of musical talent and knowledge.
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Impact
October, 2024
Musical Fund Society Foundation Inc significantly enhances the musical landscape by receiving and disbursing funds aimed at fostering music in various forms. Established in 1984, it plays a pivotal role in promoting musical education and skill development, supporting the arts, and enriching the public’s appreciation of music. Through its grant-making activities, the foundation actively funds musical initiatives, ensuring that resources are available for a diverse range of projects related to the art, science, and history of music.
By facilitating access to musical experiences, the foundation contributes to the cultivation of a vibrant musical community in Philadelphia and beyond. Its efforts encourage a wider diffusion of taste and interest in music, ultimately strengthening the cultural fabric of the community. The foundation's commitment to the public good ensures that music remains an essential and accessible part of societal development, enriching lives through the transformative power of the musical arts.
This information is meant to be a general summary of Musical Fund Society Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $83,331
- Gross Receipts: $214,043
Assets and Liabilities:
- Total Assets: $502,124
- Total Liabilities: $1,660
- Net Assets: $500,464
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Organization Details
Founding Year
1983
Phone
(215) 686-5313Principal Officer
Linda Reichert
Main Address
PO BOX 22464, PHILADELPHIA, PA, 19110
NTEE Category
Code: A68 - Arts
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