Overview
What is Grammy Museum Foundation Inc?
The Grammy Museum Foundation Inc, located at 800 West Olympic Boulevard A245 in Los Angeles, California, is a nonprofit organization dedicated to celebrating and exploring music from the past and present to inspire the music of tomorrow. With a team of 52 employees, the Grammy Museum offers a unique experience for the public, focusing on the creative process, the history of music, and the Grammy Awards. Through exhibits, education, grants, preservation initiatives, and public programming, the museum pays tribute to our collective musical heritage and values the dynamic connections in people's diverse backgrounds. The mission of the Grammy Museum is to inspire and create change in the music industry by sharing stories that inspire us and fostering creative expression.
Official website here: www.grammymuseum.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star Rating)
The Grammy Museum Foundation Inc has established a solid reputation with an 83% rating, indicating a reliable nonprofit focused on accountability and finance. With a perfect score in financial oversight, the organization demonstrates strong governance through an entirely independent board and comprehensive policies. The program expense ratio of 75.42% reflects their commitment to utilizing funds effectively for their mission.
Strengths of the Grammy Museum Foundation include their high score in the Culture & Community category, where they achieved a perfect 100%. This shows their effectiveness in collecting and using feedback from stakeholders to improve their practices. Additionally, their fundraising efficiency ratio of $0.14 indicates a cost-effective approach to generating donations, further enhancing their financial stability and operational effectiveness.
While the organization showcases numerous strengths, the working capital ratio of 0.52 years may suggest some limitations in financial reserves for unforeseen challenges. However, the overall performance indicates a well-managed nonprofit that prioritizes transparency and community engagement, contributing positively to their mission in music education and preservation.
This AI summary has been generated from information found on Charity Navigator.
Is Grammy Museum Foundation Inc legitimate?
Grammy Museum Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Grammy Museum 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: $2,154,410
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,004,509
For more financial information, click here
Official website here: www.grammymuseum.org
What is the mission statement of Grammy Museum Foundation Inc?
The Grammy Museum Foundation is a non-profit organization committed to celebrating and exploring music from the past and present to inspire the music of tomorrow. Through exhibits, education, grants, preservation initiatives, and public programming, the museum showcases the dynamic connection in people's diverse musical backgrounds and tells the inspiring stories that have shaped the industry. The Grammy Museum values and celebrates the ways in which music brings people together, transcending cultural boundaries and fostering creativity that leads to change.
Official website here: www.grammymuseum.org
Who is the CEO of Grammy Museum Foundation Inc?
Michael Sticka is the Vice Chair of Grammy Museum Foundation Inc. The CEO's salary of Grammy Museum Foundation Inc is $556,623 and their total compensation is $582,689.
Official website here: www.grammymuseum.org
What is the revenue of Grammy Museum Foundation Inc?
Grammy Museum Foundation Inc's revenue in 2022 was $15,075,768.
Official website here: www.grammymuseum.org
Who are the executives of Grammy Museum Foundation Inc and what are their salaries?
The average compensation at Grammy Museum Foundation Inc during 2022 was $118,441. There are 52 employees and 24 volunteers at Grammy Museum Foundation Inc.
Here are 36 key members and their salaries (Grammy Museum Foundation Inc's CEO's salary is $556,623 and their total compensation is $582,689):
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- Compensation: $556,623
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- Other: $37,359
Official website here: www.grammymuseum.org
Where can I find the form 990 for Grammy Museum Foundation Inc?
Grammy Museum Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.grammymuseum.org
Learn more at the official website: www.grammymuseum.org
Mission Statement of Grammy Museum Foundation Inc
The Grammy Museum Foundation Inc is a non-profit organization that honors and investigates music from the past and present to stimulate the musical creations of the future. By combining exhibits, education, grants, preservation initiatives, and public programming, the Grammy Museum pays tribute to the rich musical legacy that binds us together. The Museum recognizes and celebrates the powerful connection that music creates among people, regardless of their diverse backgrounds. It shares stories that captivate us and champions creative expression as a catalyst for change within the music industry.
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Impact
October, 2024
The Grammy Museum Foundation Inc plays a vital role in fostering appreciation for music across generations. By maintaining the Grammy Museum in Los Angeles, it offers a unique experience that honors the history and creative processes behind music. Through engaging exhibits and educational programs, the foundation inspires future musicians while highlighting the cultural significance of diverse musical traditions.
Its initiatives encompass grants, preservation efforts, and public programming that celebrate collective musical heritage, promoting understanding among people from varied backgrounds. By telling the stories of influential artists and movements, the museum not only preserves music history but also encourages creative expression that can drive change in the industry. Ultimately, the organization nurtures a vibrant music culture, enriching the community and inspiring the next wave of artists.
This information is meant to be a general summary of Grammy Museum 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: $124,620
- Program Service Revenue: $2,204,823
- Gross Receipts: $19,065,224
Assets and Liabilities:
- Total Assets: $17,463,845
- Total Liabilities: $7,911,901
- Net Assets: $9,551,944
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CURATORIAL SERVICES
Revenue
$775,465
GENERAL ADMISSIONS
Revenue
$608,129
EDUCATION REVENUE
Revenue
$413,062
PUBLIC PROGRAMS
Revenue
$408,167
Organization Details
Founding Year
2007
Phone
(213) 765-6800Principal Officer
Michael Sticka
Main Address
800 WEST OLYMPIC BOULEVARD A245, LOS ANGELES, CA, 90015
Website
www.grammymuseum.orgNTEE Category
Code: A50 - Arts
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