Overview
What is New Music Usa Inc?
New Music USA Inc is a nonprofit organization that harnesses the strength of virtual networks and individuals to cultivate connections, broaden understanding, spark appreciation, and offer financial assistance to a varied group of creators and enthusiasts, spanning both within the United States and internationally. Their mission is centered around supporting the emergence, presentation, and admiration of newly created music. They strive to nurture this diverse community by fostering connections, deepening knowledge, and encouraging appreciation.
Official website here: www.newmusicusa.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star Rating)
New Music USA Inc has achieved a high rating of 96%, which reflects its strong commitment to accountability and financial management. With an Accountability & Finance score of 97%, the organization demonstrates effective use of its resources, including a program expense ratio of 78.79%, indicating a focus on its mission-related activities. The majority of the board members are independent, contributing to robust governance practices.
Strengths noted include a solid working capital ratio of 6.54 years, which suggests the organization has sufficient resources to cover its obligations. The absence of material diversion of assets and the implementation of comprehensive policies such as conflict of interest and whistleblower protections further enhance its operational integrity. Additionally, the organization excels in feedback collection and usage, showcasing its commitment to continuous improvement.
However, while the equity strategies score is commendable at 87 out of 100, there is room for growth in areas related to equity data and policies, where scores were lower. This indicates that while the organization is making strides in promoting equity, it may need to enhance its strategies and data collection to better support these efforts. Overall, New Music USA Inc presents itself as a well-managed nonprofit dedicated to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is New Music Usa Inc legitimate?
New Music Usa Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Music Usa 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: $195,243
Professional Fundraising Fees: $0
Other Salaries and Wages: $715,248
For more financial information, click here
Official website here: www.newmusicusa.org
What is the mission statement of New Music Usa Inc?
New Music USA Inc's mission is to foster a connection between various individuals involved in the creation, performance, and appreciation of new music. They leverage virtual networks and the collective power of people to encourage appreciation for this diverse community, both domestically and internationally. The organization aims to deepen knowledge and understanding of new music, providing financial support to practitioners and enthusiasts alike. In essence, New Music USA Inc serves as a platform that nurtures the growth and recognition of new music on a global scale.
Official website here: www.newmusicusa.org
Who is the CEO of New Music Usa Inc?
Vanessa Reed is the Co-Chair of New Music Usa Inc. The CEO's salary of New Music Usa Inc is $182,576 and their total compensation is $202,819.
Official website here: www.newmusicusa.org
What is the revenue of New Music Usa Inc?
New Music Usa Inc's revenue in 2022 was $3,821,234.
Official website here: www.newmusicusa.org
Who are the executives of New Music Usa Inc and what are their salaries?
The average compensation at New Music Usa Inc during 2022 was $50,583. There are 18 employees and 62 volunteers at New Music Usa Inc.
Here are 18 key members and their salaries (New Music Usa Inc's CEO's salary is $182,576 and their total compensation is $202,819):
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- Compensation: $182,576
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- Other: $20,243
Official website here: www.newmusicusa.org
Where can I find the form 990 for New Music Usa Inc?
New Music Usa Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newmusicusa.org
Learn more at the official website: www.newmusicusa.org
Mission Statement of New Music Usa Inc
New Music USA Inc, as a nonprofit organization, is committed to nurturing the creation, performance, and appreciation of new music. They achieve this mission through the use of virtual networks and the collective power of people. By fostering connections, New Music USA deepens the knowledge and understanding of new music among a diverse group of practitioners and appreciators, both within the United States and internationally. The organization also encourages appreciation for new music and provides financial support to this diverse constituency. In essence, New Music USA serves as a catalyst, bringing together individuals and fostering an environment that supports and celebrates the evolution of musical expression.
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Impact
July, 2024
New Music Usa Inc's impact can be seen in its support for the sounds of tomorrow. By nurturing the creation, performance, and appreciation of new music, this organization plays a crucial role in fostering connection, deepening knowledge, and encouraging appreciation within the music community. Through virtual networks and financial support, New Music Usa Inc empowers a diverse constituency of practitioners and appreciators, both within the United States and beyond, to push the boundaries of music and amplify the voices of modern composers. Its work contributes to the vibrancy and innovation of the arts, making a lasting impact on the cultural landscape.
This information is meant to be a general summary of New Music Usa 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: $811,309
- Gross Receipts: $6,984,593
Assets and Liabilities:
- Total Assets: $19,944,581
- Total Liabilities: $1,398,002
- Net Assets: $18,546,579
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Organization Details
Founding Year
1942
Phone
(212) 645-6949Principal Officer
Vanessa Reed
Main Address
40 WALL STREET 6TH FLOOR, NEW YORK, NY, 10005
Website
www.newmusicusa.orgNTEE Category
Code: A680 - Arts
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