MUSCLE SHOALS MUSIC FOUNDATION

EIN: 453866548 501(c)(3)

SHEFFIELD, AL

Total Revenue
$413,575
Total Expenses
$518,522
Total Assets
$787,644
Net Assets
$666,158
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
AL
Principal Officer
JUDY HOOD
Phone
2562463601
Tax Period
2021-01-01 to 2021-12-31

MUSCLE SHOALS MUSIC FOUNDATION, founded in 2013, is a small nonprofit that reported $429K in total revenue in fiscal year 2018. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $485K exceeded revenue, resulting in a 13% operating deficit.

Mission

TO PRESERVE, ARCHIVE, AND CURATE AUDIO, VISUAL AND TANGIBLE MATERIALS RELATED TO MUSIC WRITTEN OR RECORDED IN AND AROUND MUSCLE SHOALS, ALABAMA, AS WELL AS MUCIC PERFORMED BY MUSICIANS FROM THAT SAME GEOGRAPHICAL AREA.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $51,601
Program Service Revenue $0
Investment Income $0
Other Revenue $361,974
TOTAL REVENUE $413,575

Expense Breakdown

Grants Paid $0
Salaries & Benefits $227,544
Fundraising Expenses $0
Program Expenses $518,522
Other Expenses $290,978
TOTAL EXPENSES $518,522

Year-over-Year Comparison

2021 2020 Change
Revenue $413,575 $470,119 -0.1%
Expenses $518,522 $457,116 +0.1%
Net Income $-104,947 $13,003 -9.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Governance

Voting Members
9
Independent Members
9
Employees
8
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KENNETH BROOKS TREASURER N/A
Officer
$0 $0 $0
RODNEY HALL SECRETARY N/A
Officer
$0 $0 $0
JUDY HOOD CHAIRMAN N/A
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2021 $413,575 $518,522 $787,644 $-104,947
2020 $470,119 $457,116 $846,153 $13,003
2019 $439,520 $486,160 $767,056 $-46,640
2018 $428,962 $485,284 $805,603 $-56,322
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