Overview
What is Music Performance Trust Funds 2?
Music Performance Trust Funds 2 is a nonprofit organization, headquartered in New York, New York, that is committed to promoting public appreciation for music. They achieve this by arranging live musical performances by musicians in various areas of the United States, its territories, and Canada, without charging an admission fee. This initiative aims to expand the public's understanding and enjoyment of music. The organization's activities are funded through grants, contributing to its mission of fostering music awareness and accessibility.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 23%
The Music Performance Trust Funds 2 has received a low overall score of 23%, resulting in a Zero-Star out of Four Star rating. This rating indicates significant concerns regarding the charity's accountability and financial practices. While the organization has a fully independent board, it lacks adequate transparency and governance practices, as evidenced by a score of 0 in several critical areas, including its conflict of interest policy and document retention protocols.
Strengths of the organization include the majority of its board members being independent, which is a positive aspect in terms of governance. However, the absence of transparency measures, such as a publicly accessible website listing financial documents and meeting minutes, raises questions about its operational integrity. Additionally, the charity scored poorly on the program expense ratio and liabilities to assets ratio, which may suggest financial mismanagement or inefficiencies.
Overall, the significant deficiencies in accountability and financial reporting highlighted by Charity Navigator warrant caution for potential donors. The lack of essential policies and clarity about financial allocations could hinder the nonprofit's ability to effectively fulfill its mission and build trust within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Music Performance Trust Funds 2 legitimate?
Music Performance Trust Funds 2 is a legitimate nonprofit organization registered as a 501(c)(3) entity. Music Performance Trust Funds 2 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
For more financial information, click here
What is the mission statement of Music Performance Trust Funds 2?
Music Performance Trust Funds 2 was established with a mission to organize live musical performances by musicians in various parts of the United States, its territories, and Canada, without charging any admission fee. This initiative aims to promote public understanding and appreciation of music. The fund's activities contribute to making music more accessible and widely enjoyed, thereby enriching cultural experiences. Details about the grant expenses can be found in Schedule I.
Who is the CEO of Music Performance Trust Funds 2?
Robert M Jaffe Esq is the Trustee of Music Performance Trust Funds 2.
What is the revenue of Music Performance Trust Funds 2?
Music Performance Trust Funds 2's revenue in 2022 was $158,155.
Who are the executives of Music Performance Trust Funds 2 and what are their salaries?
There 1 volunteer at Music Performance Trust Funds 2.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Music Performance Trust Funds 2?
Music Performance Trust Funds 2's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Music Performance Trust Funds 2
Music Performance Trust Funds 2, as its name suggests, was established with a mission to organize live musical performances by musicians in various parts of the United States, its territories, and Canada's Dominion. The primary objective of this nonprofit organization is to contribute to the public's knowledge and appreciation of music, and it accomplishes this by arranging these performances without any admission fee. It's important to note that while the provided information does not provide specific details, it implies that Music Performance Trust Funds 2 aims to make high-quality music accessible to a wider audience, thereby fostering a deeper understanding and enjoyment of music. The organization's efforts in this regard can be found in the "Schedule I" of its grant expenses.
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Impact
October, 2024
Music Performance Trust Funds 2 significantly enhances community engagement with the arts by facilitating live musical performances across the United States, its territories, and Canada at no cost to attendees. By arranging these free events, it fosters public knowledge and appreciation of music, making diverse genres accessible to a wider audience. This initiative not only supports musicians by providing them with performance opportunities but also enriches local cultures and strengthens community bonds through shared musical experiences. The impact extends beyond entertainment; it nurtures a deeper understanding of music's role in society while promoting inclusivity and cultural appreciation.
This information is meant to be a general summary of Music Performance Trust Funds 2. 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: $70
- Program Service Revenue: $158,085
- Gross Receipts: $158,155
Assets and Liabilities:
- Total Assets: $521,967
- Total Liabilities: $0
- Net Assets: $521,967
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SIGNATORY CONTRIBUTIONS
Revenue
$158,085
Organization Details
Founding Year
1949
Phone
(212) 575-7900Principal Officer
Robert M Jaffe Esq
Main Address
C/O JAFFE 810 7TH AVE STE 405, NEW YORK, NY, 10019
NTEE Category
Code: A116 - Arts
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