Overview
What is Asbury Park Music Foundation Inc?
Asbury Park Music Foundation Inc is a nonprofit organization situated in Asbury Park, New Jersey, specifically at 621 Lake Avenue Unit 1C. Their primary goal is to offer life-transforming music education programs for underprivileged youth. These initiatives span local schools, subsidized music lessons for students, and the provision of donated instruments to students enrolled in these programs. Through these efforts, hundreds of children have been able to participate. Besides education, the foundation also organizes concerts and community events within Asbury Park, aiming to enhance the local economy and foster a diverse community. The organization is staffed by a team of six dedicated individuals.
Official website here: www.asburyparkmusiclives.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87%
The Asbury Park Music Foundation Inc has achieved an 87% rating from Charity Navigator, which translates to a Three-Star out of Four Star rating. This score reflects the organization's robust accountability and finance practices, particularly noting its 100% independent board members and strong financial oversight measures. The foundation also excels in maintaining a low liabilities to assets ratio, demonstrating fiscal responsibility.
Despite these strengths, there are some areas for improvement. The organization does not currently have a whistleblower policy or a document retention and destruction policy, both of which are critical for enhancing transparency and governance. Additionally, the tax form is not posted on the nonprofit's website, which could limit accessibility for donors and stakeholders seeking financial information.
Overall, while the Asbury Park Music Foundation Inc demonstrates a solid commitment to financial management and governance, addressing the noted deficiencies could further strengthen its operational transparency and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Asbury Park Music Foundation Inc legitimate?
Asbury Park Music Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Asbury Park Music 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $123,723
For more financial information, click here
Official website here: www.asburyparkmusiclives.org
What is the mission statement of Asbury Park Music Foundation Inc?
The Asbury Park Music Foundation Inc is committed to providing life-changing music education to under-served youth and organizing events to enhance the economic well-being of the community and foster unity. Through their initiatives, they offer educational programs in local schools, subsidize free music lessons for students, and provide donated instruments to participating students. This organization has engaged hundreds of children in its programs. Additionally, they conduct concerts and community events to invigorate the city of Asbury Park.
Official website here: www.asburyparkmusiclives.org
Who is the CEO of Asbury Park Music Foundation Inc?
Thomas Donovan is the Executive Di of Asbury Park Music Foundation Inc.
Official website here: www.asburyparkmusiclives.org
What is the revenue of Asbury Park Music Foundation Inc?
Asbury Park Music Foundation Inc's revenue in 2023 was $1,064,544.
Official website here: www.asburyparkmusiclives.org
Who are the executives of Asbury Park Music Foundation Inc and what are their salaries?
The average compensation at Asbury Park Music Foundation Inc during 2023 was $20,620. There are 6 employees and 30 volunteers at Asbury Park Music Foundation Inc.
Here are 8 key members and their salaries:
- Compensation: $70,000
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Official website here: www.asburyparkmusiclives.org
Where can I find the form 990 for Asbury Park Music Foundation Inc?
Asbury Park Music Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.asburyparkmusiclives.org
Learn more at the official website: www.asburyparkmusiclives.org
Mission Statement of Asbury Park Music Foundation Inc
Asbury Park Music Foundation Inc is dedicated to making a significant impact on underprivileged youth by offering transformative music education. Their mission is multifaceted, encompassing the provision of engaging educational programs within local schools and offering free music lessons to students in need. The organization also goes the extra mile by providing donated musical instruments to those participating in their programs. This commitment to music education has seen hundreds of children benefit from their initiatives.
Beyond education, Asbury Park Music Foundation Inc plays an active role in the community by organizing concerts and events within the city of Asbury Park. These events not only serve to entertain but also contribute to the economic well-being of the residents and foster unity among the diverse community members. By providing such opportunities, the foundation aims to uplift and empower the local community through the power of music.
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Impact
July, 2024
Asbury Park Music Foundation Inc has a significant impact on the community of Asbury Park, New Jersey. Through its life-changing music education programs, the organization has engaged underserved youth and provided opportunities for hundreds of children to participate in music education. By offering programs in local schools, subsidizing free music lessons, and providing donated instruments to students, the foundation has empowered young individuals to explore their creative potential and develop valuable skills in a supportive environment.
In addition to its educational initiatives, Asbury Park Music Foundation Inc plays a key role in improving the economic well-being of residents in Asbury Park. The organization's concerts and community events not only showcase local talent but also contribute to the vibrant cultural scene of the city, attracting visitors and boosting local businesses. By uniting a diverse community through the power of music, the foundation fosters a sense of belonging and mutual support among residents of Asbury Park.
In summary, Asbury Park Music Foundation Inc's impact can be seen in the positive transformation of the lives of underserved youth through music education, as well as in the economic growth and cultural enrichment of the community of Asbury Park.
This information is meant to be a general summary of Asbury Park Music 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 2023.
- Investment Income: -$27,136
- Program Service Revenue: $34,818
- Gross Receipts: $1,092,779
Assets and Liabilities:
- Total Assets: $379,869
- Total Liabilities: $29,224
- Net Assets: $350,645
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROG. REV. - COMMUNITY EVENTS
Revenue
$26,044
PROG. REV. - MERCHANDISE-NET
Revenue
$8,774
Organization Details
Founding Year
2011
Phone
(732) 775-8900Principal Officer
Thomas Donovan
Main Address
621 LAKE AVENUE UNIT 1C, ASBURY PARK, NJ, 07712
Website
www.asburyparkmusiclives.orgNTEE Category
Code: A68 - Arts
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