Overview
What is Tms West?
Tms West, a not-for-profit organization incorporated in Ohio, is wholly owned by The Music Settlement. Established with the intention of participating in a New Markets Tax Credit (NMTC) real estate development project in Cleveland's west side, Tms West now leases its commercial unit in a mixed-use residential and commercial building constructed in 2018 to The Music Settlement. The Music Settlement utilizes this location to offer a variety of programs, including early childhood education, music lessons, and music therapy services. By partnering with Tms West, The Music Settlement expands its reach and capacity to serve the community on Cleveland's west side.
Is Tms West legitimate?
Tms West is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tms West 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.
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What is the mission statement of Tms West?
TMS West, a not-for-profit organization, was established with the goal of participating in a New Markets Tax Credit (NMTC) real estate development project. The organization's primary purpose is to establish a low-income community business. TMS West operates under a long-term agreement, leasing its facility to The Music Settlement, allowing them to run their programs focusing on early childhood, music lessons, and music therapy services. The mission of TMS West, in essence, is to contribute to community development and provide a conducive environment for educational and therapeutic programs in music.
Who is the CEO of Tms West?
Geralyn M Presti is the Chairperson of Tms West.
What is the revenue of Tms West?
Tms West's revenue in 2022 was $88,041.
Who are the executives of Tms West and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Tms West?
Tms West's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Tms West
Tms West, a not-for-profit organization wholly owned by The Music Settlement, was established with the purpose of participating in a New Markets Tax Credit (NMTC) real estate development project. This organization's mission is to establish a qualified active low-income community business, contributing to the revitalization of a specific area. Tms West owns a commercial unit in a mixed-use residential and commercial building, and under a long-term agreement, it leases its facility to The Music Settlement for operating its programs. The Music Settlement's programs at this location include early childhood education, music lessons, and music therapy services.
In essence, Tms West serves as a catalyst for community development, partnering with The Music Settlement to provide essential services. By offering early childhood education, music lessons, and music therapy services, this organization contributes to the overall well-being of the community, specifically focusing on children's development and artistic growth. Tms West's mission is an integral part of the revitalization process, contributing to the creation of a vibrant and thriving community.
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Impact
October, 2024
Tms West significantly impacts the community on Cleveland's West Side by facilitating access to essential music and education programs. By owning a commercial unit in a mixed-use building, Tms West provides a dedicated space for The Music Settlement to offer a range of services, including early childhood education, music lessons, and music therapy. These programs cater to low-income families and underserved populations, enriching the community through the arts and fostering cognitive, emotional, and social development.
The establishment of Tms West was part of the New Markets Tax Credit (NMTC) initiative, strategically designed to stimulate economic growth in low-income areas. By participating in real estate development, Tms West not only bolsters local economic activity but also ensures that quality educational opportunities in music are available to all community members.
Overall, Tms West serves as a crucial foundation for the arts in the community, promoting inclusivity and access to developmental resources that enhance the quality of life for residents. Its location and partnership with The Music Settlement position it as a vital player in cultivating a vibrant cultural ecosystem in Cleveland.
This information is meant to be a general summary of Tms West. 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.
- Gross Receipts: $181,204
Assets and Liabilities:
- Total Assets: $4,558,946
- Total Liabilities: $5,283,389
- Net Assets: -$724,443
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Organization Details
Founding Year
2016
Phone
(216) 421-5806Principal Officer
Geralyn M Presti
Main Address
11125 MAGNOLIA DRIVE 410, CLEVELAND, OH, 44106
NTEE Category
Code: A11 - Arts
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