Overview
What is The Masterwork Music & Art Foundation?
The Masterwork Music & Art Foundation is a dedicated arts and cultural organization, situated in Cranford, New Jersey. Its core mission revolves around promoting and fostering the arts by providing support to deserving musical and artistic organizations. As an active advocate for the arts, the foundation's activities are centered around this purpose, making it an integral part of the local and broader artistic community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. The Masterwork Music & Art Foundation demonstrates solid accountability and finance practices, as indicated by a perfect score in several areas including independent board members and the absence of material diversion of assets. Its program expense ratio is also commendable at 100%, reflecting that all funds are directed towards its programs.
However, the organization's rating is tempered by significant gaps in transparency. The missing tax form on the nonprofit's website raises concerns about financial disclosure. Additionally, the absence of key governance policies, such as a conflict of interest policy and a whistleblower policy, contributes negatively to its overall accountability score.
While The Masterwork Music & Art Foundation shows strengths in financial management and program expenditure, improvements in transparency and governance policies are necessary for a more favorable evaluation and greater trust from stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is The Masterwork Music & Art Foundation legitimate?
The Masterwork Music & Art Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Masterwork Music & Art Foundation 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 The Masterwork Music & Art Foundation?
The Masterwork Music & Art Foundation, as an arts and cultural organization, is committed to promoting and fostering the arts. It achieves this mission by supporting numerous Music and Art organizations. By operating within this realm, the foundation aims to contribute significantly to the artistic community. Its programs are designed to uplift deserving Music and Art organizations, thereby enhancing the overall artistic landscape.
What is the revenue of The Masterwork Music & Art Foundation?
The Masterwork Music & Art Foundation's revenue in 2024 was $56,405.
Who are the executives of The Masterwork Music & Art Foundation and what are their salaries?
Here are 4 key members and their salaries:
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- Other: $0
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Where can I find the form 990 for The Masterwork Music & Art Foundation?
The Masterwork Music & Art Foundation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of The Masterwork Music & Art Foundation
The Masterwork Music & Art Foundation, as a distinguished entity in the arts and cultural sphere, is committed to promoting and advocating for the arts. This commitment is manifested through various programs that the organization implements. The Masterwork Music & Art Foundation supports numerous Music and Art organizations, contributing to the broader arts community. Acting as a pillar in the arts sector, the foundation operates with a mission to foster and nurture artistic expression and creativity.
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Impact
August, 2024
The Masterwork Music & Art Foundation has had a significant impact on the arts community by promoting and supporting various music and art organizations. Through its programs, the foundation has helped elevate the visibility and accessibility of the arts, contributing to the cultural enrichment of the community. Additionally, by providing support to deserving music and art groups, The Masterwork Music & Art Foundation has played a vital role in nurturing and maintaining the artistic talent within Cranford and beyond. Overall, their efforts have contributed to the vibrancy and diversity of the arts scene in Cranford, NJ, and have inspired creativity and appreciation for the arts among residents and visitors alike.
This information is meant to be a general summary of The Masterwork Music & Art Foundation. 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 2024.
- Investment Income: $45,599
- Gross Receipts: $675,566
Assets and Liabilities:
- Total Assets: $993,849
- Total Liabilities: $0
- Net Assets: $993,849
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Organization Details
Founding Year
1955
Principal Officer
Sulmon A Javed
NTEE Category
Code: A6E0 - Arts
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