Overview
What is The Residency?
The Residency is a nonprofit organization based in Kirkland, Washington. Their primary mission is to empower young artists, particularly those from low-income families, through an intensive 4-week workshop. This program, open to individuals aged 16-24, offers two tracks: vocal and production. During this period, participants create original music, record in a professional studio, and perform at a renowned Seattle venue. Additionally, they engage in panel discussions with industry leaders, fostering artistic growth and professional development. The Residency aims to equip these young artists with the necessary skills to become successful professionals in the hip-hop genre and cultural influencers. To acknowledge their efforts and hard work, participants receive stipends upon completion of the program. The Residency also provides subsidized transportation and meals to ensure full participation in the program.
Official website here: www.theresidencyseattle.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 61%)
The Residency has received a two-star rating from Charity Navigator, indicating a need for improvement in certain areas of accountability and financial practices. The organization boasts a fully independent board, which positively reflects its governance structure. However, the lack of financial statements and several missing policies, such as a whistleblower policy and document retention guidelines, significantly impacts its overall score.
The organization's program expense ratio stands at 60.17%, suggesting that a majority of its expenses are directed toward programs rather than administrative costs. This is a positive aspect, demonstrating the organization's commitment to its mission. However, the absence of key financial documentation and transparency measures raises concerns about its operational practices.
Overall, while The Residency shows strengths in governance and program expenses, the deficiencies in financial reporting and certain policies indicate a need for enhanced accountability to ensure trust and transparency with its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is The Residency legitimate?
The Residency is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Residency 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: $28,770
Other Salaries and Wages: $278,735
For more financial information, click here
Official website here: www.theresidencyseattle.org
What is the mission statement of The Residency?
The mission of The Residency is to establish a robust community of aspiring hip-hop artists from low-income families, equipping them with artistic and leadership skills, business acumen, and mentorship necessary to become successful professionals and cultural influencers. By participating in this year-round program, these young artists enhance their tangible artistic and professional abilities, build confidence, foster teamwork, and gain a deeper understanding of their identity and power. The program includes an intensive month-long workshop where participants engage in either vocal or production tracks, writing original songs, recording in a professional studio, and performing in front of large audiences. Additionally, they participate in insightful panel discussions with leaders in the Northwest creative community.
Official website here: www.theresidencyseattle.org
What is the revenue of The Residency?
The Residency's revenue in 2023 was $686,378.
Official website here: www.theresidencyseattle.org
Who are the executives of The Residency and what are their salaries?
The average compensation at The Residency during 2023 was $18,582. There are 15 employees and 5 volunteers at The Residency.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.theresidencyseattle.org
Where can I find the form 990 for The Residency?
The Residency's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.theresidencyseattle.org
Learn more at the official website: www.theresidencyseattle.org
Mission Statement of The Residency
The Residency, an organization dedicated to empowering young hip-hop artists, aims to build a powerful community of aspiring professionals. This community is equipped with the necessary artistic and leadership skills, business acumen, and mentorship to become successful artists and cultural change-makers. By participating in The Residency's year-long program, young artists from low-income families in the Seattle area acquire tangible artistic and professional skills, gain confidence, improve teamwork, and develop a deeper understanding of their identity and power.
The Residency's mission is achieved through a month-long intensive workshop, where up to 45 young individuals participate in either a vocal or production track. During this intensive period, the youth write original songs, record in a professional studio, and perform in front of hundreds of people at a prestigious Seattle venue. Alongside creating and performing their music, the participants also engage in thought-provoking panel discussions with leaders in the Northwest creative community. This holistic approach equips the young artists with the tools they need to thrive in the music industry and contribute positively to their communities.
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Impact
July, 2024
The Residency has a significant impact on young hip-hop artists from low-income families in the Seattle area by equipping them with artistic and leadership skills, business acumen, and mentorship necessary to become professional artists and cultural change makers. Participants in the program not only acquire tangible artistic and professional skills but also gain confidence, teamwork, and a deepened understanding of their own identity and power. By centering Black, Indigenous, and P.O.C identifying young artists, The Residency aims to break down barriers to equitable arts learning and provide opportunities for those who may face financial difficulties.
Through a month-long intensive workshop where youth write original songs, record in a professional studio, and perform in front of live audiences, participants are able to showcase their talents and receive support from leaders in the Northwest creative community. The program also provides stipends, subsidized transportation, and meals to minimize challenges to full participation, ensuring that all youth can benefit from the opportunities provided by The Residency.
This information is meant to be a general summary of The Residency. 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.
- Program Service Revenue: $50,700
- Gross Receipts: $874,219
Assets and Liabilities:
- Total Assets: $323,777
- Total Liabilities: $25,444
- Net Assets: $298,333
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE INCOME
Revenue
$50,700
Organization Details
Founding Year
2020
Principal Officer
Ben Secord
Website
www.theresidencyseattle.orgNTEE Category
Code: A20 - Arts
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