REDTONE RECORDS

EIN: 831901032 501(c)(3) Arts, Culture & Humanities

EAST PALO ALTO, CA

Total Revenue
$395,896
Total Expenses
$462,812
Total Assets
$52,974
Net Assets
$-88,365
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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
CA
Principal Officer
JUSTIN PHIPPS
Phone
6509062464
Tax Period
2023-01-01 to 2023-12-31

REDTONE RECORDS, founded in 2018, is a small nonprofit in the Arts, Culture & Humanities sector that reported $396K in total revenue in fiscal year 2023. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $463K exceeded revenue, resulting in a 17% operating deficit.

Mission

REDTONE RECORDS IS AS A NONPROFIT, COMMUNITY-BASED RECORD LABEL AND RECORDING STUDIO THAT PROVIDES FREE, PROFESSIONAL MUSIC AND VIDEO PRODUCTION TO CULTURAL ARTISTS WITH POSITIVE MESSAGES. WE HAVE A SPECIFIC FOCUS ON PRESERVING AND PROMOTING VARIOUS FORMS OF TRADITIONAL AND ROOTS MUSIC FROM AROUND THE WORLD. ADDITIONALLY WE WILL BE CONDUCTING REGULAR YOUTH SONGWRITING COMPETITIONS, INCENTIVIZING POSITIVE LYRICAL CONTENT FROM YOUNG, ASPIRING, COMMUNITY ARTISTS. OUR ACTIVITIES INCLUDE: IDENTIFYING AND RECRUITING ARTISTS, BOTH LOCALLY AND INTERNATIONALLY; SUBSIDIZING TRAVEL AND LODGING EXPENSES FOR ARTIST RESIDENCIES WHEN APPLICABLE; OPERATING A COMMUNITY-BASED RECORDING STUDIO; PRODUCING MUSIC AND VIDEO; HOSTING AND PROMOTING CONCERTS, FESTIVALS AND SIMILAR ACTIVITIES; PURSUING SONG PLACEMENTS IN TV, FILM, ADVERTISING, ETC.; MARKETING AND PROMOTION OF REDTONE ARTISTS; SUBMITTING REDTONE PRODUCTIONS TO MAJOR ARTISTS FOR POSSIBLE PROGRAM REVENUE TO FUND REDTONE ACTIVITIES. REDTONE'S MISSIO

Program Service Accomplishments

Program 1
Expenses: $430,251 Revenue: $203,423

FULFILLING A LONGTIME GOAL, IN 2023 WE BROUGHT ON TIFFANI MARIE AS REDTONE CO-CEO ALONGSIDE OUR FOUNDER, JUSTIN PHIPPS. TIFFANI IS NOT ONLY AN INFLUENTIAL MUSICAL ARTIST, ACTIVIST, AND EDUCATOR BUT...

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FULFILLING A LONGTIME GOAL, IN 2023 WE BROUGHT ON TIFFANI MARIE AS REDTONE CO-CEO ALONGSIDE OUR FOUNDER, JUSTIN PHIPPS. TIFFANI IS NOT ONLY AN INFLUENTIAL MUSICAL ARTIST, ACTIVIST, AND EDUCATOR BUT ALSO A VISIONARY WHOSE GROUNDBREAKING DOCTORAL WORK IN BLACK HEALTH AND WELLNESS IS HELPING TO SHAPE AND SHARPEN REDTONES ORGANIZATIONAL CULTURE AND DIRECTION. SHE AND JUSTIN GO BACK OVER TWO DECADES AS COLLABORATORS IN MUSIC AND COMMUNITY WORK, AND WE ARE THRILLED TO HAVE TIFFANI IN OFFICIAL REDTONE LEADERSHIP. WE ALSO FINISHED PRODUCTION ON TIFFANIS FIRST REDTONE ALBUM THIS YEAR. 2023 ALSO SAW CONTINUED GROWTH IN REDTONES SUPPORT OF OUR OTHER ARTISTS. FOR MIKO MARKS, THAT SUPPORT WAS PRIMARILY FOCUSED ON SUSTAINING HER RISE AS AN ARTIST THROUGH LOCAL, NATIONAL, AND EVEN INTERNATIONAL TOURING. THIS INCLUDED ANOTHER US TOUR OPENING FOR LITTLE FEAT, WHICH WAS IMMEDIATELY FOLLOWED BY HER TOUR, ALONG WITH NUMEROUS FESTIVALS THROUGHOUT THE COUNTRY AND THE UK AND PERFORMANCES HERE IN THE BAY AREA. THROUGH THE ATTENTION SHE HAS BEEN GAINING FROM HER WORK WITH REDTONE, THIS YEAR, MIKO WAS HONORED WITH A DISPLAY IN THE AMERICAN CURRENTS EXHIBIT OF THE COUNTRY MUSIC HALL OF FAME. SHE IS ONE OF THE VERY FEW AFRICAN AMERICAN ARTISTS EVER TO BE FEATURED THERE. WE FINISHED PRODUCTION ON KIAZI MALONGAS SOPHOMORE ALBUM, ZU DIA NGOMA, A FANTASTIC COLLABORATIVE WORK BETWEEN KIAZI AND SEVERAL SINGERS AND MUSICIANS IN CONGO BRAZZAVILLE. WE BEGAN RELEASING THE ALBUMS FIRST SINGLES IN 2023 AND SUPPORTED KIAZI IN FORMING A LOCAL BAND TO BEGIN PERFORMING MATERIAL FROM THE ALBUM IN CONCERT. WE RELEASED AN EFFIE ZILCH LIVE ALBUM, BUILDING UPON A NEW COMMUNITY PARTNERSHIP WITH A LOCAL BOOKSTORE EAGER TO FEATURE LIVE MUSIC. FELDMANS BOOKS SHARES OUR VISION FOR CULTURAL AND COMMUNITY PRESERVATION AND BECAME A SIGNIFICANT PARTNER THIS YEAR AS WE CURATED NUMEROUS PERFORMANCES AND EVEN LIVE RECORDINGS IN THE SHOP. WE LAUNCHED A NEW BASEMENT CONCERT SERIES IN OUR OWN STUDIO, FEATURING CONCERTS BY SOJI ODUKOGBE, MIKO MARKS, ARTELIA GREEN, AND FRANK THIBEAUX. THESE AMAZING EVENTS WERE DESIGNED TO CURATE A SAFE AND SACRED SPACE IN WHICH TO BUILD COMMUNITY AND CELEBRATE CULTURE THROUGH MUSIC. UNDER TIFFANIS LEADERSHIP, WE BEGAN CONVENING REDTONE GATHERINGS TO BUILD A STRONGER COMMUNITY AMONG OUR ARTISTS AS A COLLECTIVE. WE ARE VERY ENCOURAGED BY WHAT WE SEE THROUGH THIS WORK AND ARE EAGER TO PROVIDE MORE SUPPORT FOR EACH ARTIST SO THAT THE COLLECTIVE CAN HAVE A MORE SIGNIFICANT IMPACT LOCALLY AND BEYOND AS WE WORK TOWARD CULTURAL AND COMMUNITY PRESERVATION THROUGH THE ARTS.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $192,473
Program Service Revenue $203,423
Investment Income $0
Other Revenue $0
TOTAL REVENUE $395,896

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $14,907
Program Expenses $430,251
Other Expenses $462,812
TOTAL EXPENSES $462,812

Year-over-Year Comparison

2023 2022 Change
Revenue $395,896 $342,292 +0.2%
Expenses $462,812 $367,712 +0.3%
Net Income $-66,916 $-25,420 +1.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
3
Independent Members
2
Employees
N/A
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
2
$14,230
Total Directors
3
$14,230
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JUSTIN PHIPPS ED/PRES/BOAR 40.00
Officer Director
$14,230 $0 $14,230
CARLOS CABRERA BOARD/TREAS/ 1.00
Officer Director
$0 $0 $0
OLATUNDE SOBOMEHIN BOARD 1.00
Director
$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
2024 No data No data No data No data
2023 $395,896 $462,812 $52,974 $-66,916
2022 $342,292 $367,712 $100,402 $-25,420
2021 $301,575 $322,429 $100,047 $-20,854
2019 $153,802 $15,227 $138,575 $138,575
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