Overview
What is Music Performance Trust Fund?
The Music Performance Trust Fund (MPTF) is a nonprofit organization based in New York City, serving under Section 501(C)(3) of the Internal Revenue Code. Established in 1948, MPTF emerged from a collective bargaining agreement between the American Federation of Musicians and major recording companies. Its mission involves contributing to the public's understanding and appreciation of music. MPTF offers over 4,000 free concerts annually, both in-person and streaming, in the United States and Canada, attended by approximately 562,664 people. The organization aims to enrich lives through music and music education, making it an accessible and exciting experience for people of all backgrounds. In this process, MPTF also supports musicians financially without charging admission fees to the recipients. With a team of five dedicated individuals, MPTF brings live, high-quality music performances by professional musicians to the public, promoting music education and making it a significant part of diverse individuals' lives. The organization's concerts are an essential source of supplemental income for musicians, ensuring that music remains accessible and enjoyable for the general public.
Official website here: www.musicpf.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96% (Four-Star out of Four Star rating)
The Music Performance Trust Fund has achieved an impressive Four-Star rating with a score of 96%, indicating strong financial health and accountability. The organization excels in various metrics, including a 100% score in Leadership & Adaptability, showcasing its capacity to adjust and thrive within the nonprofit landscape. Notably, the majority of its board members are independent, which enhances governance integrity.
Financially, the Trust Fund demonstrates a solid commitment to its mission, with a program expense ratio of 92.44%, signifying that the vast majority of its funding is directed towards programs rather than administrative costs. Their liabilities to assets ratio is exceptionally low at 0.17%, indicating a strong financial position. The presence of comprehensive policies regarding conflict of interest and whistleblower protections further exemplifies the organization's commitment to transparency and ethical governance.
While the organization shows great strengths, it aims to expand its influence by building new partnerships within the music education community. This strategic focus on collaboration may help them reach a broader audience and enhance their overall impact in the field of music performance. Overall, the Music Performance Trust Fund stands out for its robust governance and dedication to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Music Performance Trust Fund legitimate?
Music Performance Trust Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Music Performance Trust Fund 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: $341,633
Professional Fundraising Fees: $0
Other Salaries and Wages: $261,294
For more financial information, click here
Official website here: www.musicpf.org
What is the mission statement of Music Performance Trust Fund?
The Music Performance Trust Fund, established in 1948, is a nonprofit organization with a mission to contribute to public knowledge and appreciation of music. Operating under Section 501(C)(3) of the Internal Revenue Code, its primary objective is to enrich people's lives, both young and old, through music. The organization aims to make music an exciting experience and expand its reach to as many children's life experiences as possible. The Music Performance Trust Fund provides admission-free, live-quality music performances by professional musicians to the public, reaching diverse backgrounds across the United States and Canada. It supplements musicians' income at no cost to the recipients, offering this valuable gift of music freely.
Official website here: www.musicpf.org
Who is the CEO of Music Performance Trust Fund?
Daniel J Beck is the Trustee of Music Performance Trust Fund.
Official website here: www.musicpf.org
What is the revenue of Music Performance Trust Fund?
Music Performance Trust Fund's revenue in 2023 was $5,379,722.
Official website here: www.musicpf.org
Who are the executives of Music Performance Trust Fund and what are their salaries?
The average compensation at Music Performance Trust Fund during 2023 was $120,585. There are 5 employees and 4 volunteers at Music Performance Trust Fund.
Here are 6 key members and their salaries:
- Compensation: $125,000
- Related: $0
- Other: $48,948
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $121,503
- Related: $0
- Other: $46,182
Official website here: www.musicpf.org
Where can I find the form 990 for Music Performance Trust Fund?
Music Performance Trust Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.musicpf.org
Learn more at the official website: www.musicpf.org
Mission Statement of Music Performance Trust Fund
The Music Performance Trust Fund, established in 1948, is a nonprofit organization with a mission to enrich the lives of the general public, spanning various age groups, through live, free music concerts. Headquartered independently, this tax-exempt entity, operating under Section 501(C)(3) of the Internal Revenue Code, stemmed from a significant collective bargaining agreement between the American Federation of Musicians and major recording companies.
The Music Performance Trust Fund's mission is multifaceted. It aims to contribute to the public's knowledge and appreciation of music, making music and music education an engaging and exciting experience. The organization seeks to make this precious gift of music accessible to every child's life experience, bringing professional musicians and their live performances to audiences of diverse backgrounds across the United States and Canada. By providing admission-free, high-quality music performances, the Music Performance Trust Fund supplements the income of musicians, offering a valuable service to the public at no cost.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Music Performance Trust Fund (MPTF) significantly enhances community engagement with the arts by providing live, free concerts across the United States and Canada. In the past year alone, MPTF organized over 4,040 performances, drawing approximately 562,664 attendees, thus enriching the cultural fabric of numerous communities.
By facilitating free access to high-quality music performed by professional musicians, MPTF not only promotes public appreciation for music but also fosters inclusivity, allowing individuals from varied backgrounds to enjoy live performances without any financial barriers. This initiative not only elevates the presence of music in everyday life but also supports musicians by supplementing their income, ensuring that the arts remain a vital and accessible aspect of society.
Moreover, MPTF’s commitment to music education and outreach cultivates a love for music among both the young and the old, making it an integral component of lifelong learning and artistic appreciation. Through its efforts, the MPTF enriches lives, bringing the joy and transformative power of music to communities everywhere.
This information is meant to be a general summary of Music Performance Trust Fund. 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 2023.
- Investment Income: $113,622
- Program Service Revenue: $5,218,600
- Gross Receipts: $10,850,639
Assets and Liabilities:
- Total Assets: $10,789,024
- Total Liabilities: $178,353
- Net Assets: $10,610,671
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RECORDING INDUSTRY PAYMENTS
Revenue
$5,218,600
Organization Details
Founding Year
1948
Phone
(212) 391-3950Principal Officer
Daniel J Beck
Main Address
1501 BROADWAY 9TH FLOOR, NEW YORK, NY, 10036
Website
www.musicpf.orgNTEE Category
Code: A120 - Arts
If you are a representative of Music Performance Trust Fund and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.