Overview
What is Miami Music Festival Inc?
Miami Music Festival Inc, located at 1440 Ocean Drive, Miami Beach, Florida, is a renowned nonprofit organization that aims to provide affordable and top-notch musical instruction to young artists within the South Florida region. With a mission to promote musical excellence, the festival offers groundbreaking performance experiences, fostering a nurturing environment for artistic growth. The organization, employing a team of three, is dedicated to making world-class musical education accessible, enriching the local community and nurturing the talents of its future musicians.
Official website here: www.miamimusicfestival.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52%, One-Star out of Four Star rating.
Miami Music Festival Inc has received a low score of 52%, indicating significant concerns regarding its accountability and financial practices. Notably, the organization lacks independent board members, which raises questions about governance, and it has not provided financial statements for review. Furthermore, several essential policies, including conflict of interest and whistleblower protection, are missing, highlighting potential areas for improvement in transparency and ethical oversight.
On a positive note, the festival demonstrates a solid program expense ratio of 75.53%, suggesting that a large portion of its budget is directed towards its mission-related activities. Additionally, the organization has a low liabilities to assets ratio of 21.93%, indicating a healthy financial position in terms of asset management. However, the absence of crucial financial documentation and governance policies calls into question the overall effectiveness and sustainability of its operations.
Overall, while Miami Music Festival Inc is committed to its mission, it must address governance and transparency issues to enhance its credibility and improve its rating. Stakeholders and potential donors should consider these factors carefully when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Miami Music Festival Inc legitimate?
Miami Music Festival Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Miami Music Festival 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: $106,442
Professional Fundraising Fees: $0
Other Salaries and Wages: $50,500
For more financial information, click here
Official website here: www.miamimusicfestival.com
What is the mission statement of Miami Music Festival Inc?
Miami Music Festival Inc's mission is centered around providing top-notch musical education at an affordable price. This organization aims to offer young artists and the South Florida region engaging performance experiences that are groundbreaking. The festival's primary objective is to deliver world-class musical instructions to these aspiring artists, thereby contributing to their growth and development in the music industry.
Official website here: www.miamimusicfestival.com
Who is the CEO of Miami Music Festival Inc?
Michael C Rossi is the Executive Dir. of Miami Music Festival Inc.
Official website here: www.miamimusicfestival.com
What is the revenue of Miami Music Festival Inc?
Miami Music Festival Inc's revenue in 2022 was $1,039,213.
Official website here: www.miamimusicfestival.com
Who are the executives of Miami Music Festival Inc and what are their salaries?
The average compensation at Miami Music Festival Inc during 2022 was $52,314. There are 3 employees at Miami Music Festival Inc.
Here are 12 key members and their salaries:
- Compensation: $106,422
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- Other: $0
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Official website here: www.miamimusicfestival.com
Where can I find the form 990 for Miami Music Festival Inc?
Miami Music Festival Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.miamimusicfestival.com
Learn more at the official website: www.miamimusicfestival.com
Mission Statement of Miami Music Festival Inc
Miami Music Festival Inc, as a nonprofit organization, is committed to delivering top-notch, affordable musical education to young artists and the wider South Florida community. Their mission is multifaceted, encompassing both instruction and performance experiences. They strive to provide a platform where aspiring musicians can hone their skills under expert tutelage, and have the opportunity to showcase their talents in groundbreaking performances. This dual focus allows the festival to contribute significantly to the musical landscape of South Florida, fostering the growth and development of promising talents.
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Impact
July, 2024
Miami Music Festival Inc's impact is evident in the transformation it brings to young artists and the South Florida region by providing affordable, world-class musical instructions and groundbreaking performance experiences. Through its singular program services, this organization plays a crucial role in nurturing musical talent and enriching the cultural landscape of Miami Beach. By offering accessible and high-quality education in music, Miami Music Festival Inc contributes significantly to the educational advancement and artistic development of individuals in the community.
This information is meant to be a general summary of Miami Music Festival 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: $3
- Program Service Revenue: $372,762
- Gross Receipts: $1,059,755
Assets and Liabilities:
- Total Assets: $42,784
- Total Liabilities: $14,167
- Net Assets: $28,617
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FESTIVAL EVENT TICKET
Revenue
$33,047
MISCELLANEOUS FEE
STUDENT DORM FEE
Revenue
$94,282
TUITION
Revenue
$245,433
Organization Details
Founding Year
2014
Phone
(703) 867-8876Principal Officer
Michael C Rossi
Main Address
1440 Ocean Drive, Miami Beach, FL, 33139
Website
www.miamimusicfestival.comNTEE Category
Code: B40 - Education
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