Austin Music Foundation

Nonprofit profile at a glance

EIN
810561953
IRS 990-EZ coverage
2010–2023
Forms available
Form 990 2021, Form 990-EZ 2023
Location
Austin, TX, USA
Phone
5125420077
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Official website

Reported finances

Revenue
$197,838
Expenses
$192,349
Assets
$54,133

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

23 people listed

People named in this filing

  • Adam Neal (Chair)
  • Alex Vallejo (Vice Chair)
  • Danny Gillespie (Exec Committee)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Austin Music Foundation's mission is to strengthen and connect the local music industry and community with innovative programs that empower music professionals and music businesses within Austin's creative economy by offering innovative career-development and music-business education programs for musicians.

What it reported doing in 2023

The Austin Music Foundation (AMF) offers free education specifically tailored to today's music business climate. With expert panels, consultations, mentoring and networking events, AMF's programs provide the necessary tools and opportunities to help the Austin music industry succeed.The Creative Media Center (CMC) Artist Development Program provides musicians with the advanced knowledge and tools they need to navigate the music industry and build their careers. The CMC Artist Development consists of three components: panels, workshops, and networking events; career consultations; and the Artist Development Program. Leaders in Austin Music (LIAM) is a six-month program designed by the Austin Music Foundation and the Economic Development Department's Music & Entertainment Division. This program will provide participants with top-level music industry leadership effectiveness training for existing leaders in the Austin music community. The class will be comprised of about 18 individuals, and the program will focus on exploring solution-oriented initiatives regarding the music industry's pressing issues and opportunities as well as increasing cross-industry collaboration opportunities with other creative industries in Austin.Music Industry Collaborative (MIC) is an applicant based mentoring program designed for active entrepreneurs with existing music-related businesses. The mentoring program will fast track resources that busy music entrepreneurs most urgently need: meaningful dialogue with real-life entrepreneurial mentors in a structured small group setting that also encourages peer-to-peer assistance. MIC offers focused workshops on core topics that are essential for the music business entrepreneur to leverage strengths, overcome challenges and gain valuable resources.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 100
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.8%; rating input score 68
  • Program expense ratio: 69.7%; rating input score 70

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 2.8%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 0.28; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 31.4%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 5.7% per year; rating input score 100; 50th percentile among comparable filings
  • Revenue growth: 5.7% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 67.8% of revenue deployed · 69.7% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $134K in reported program spending
  • Leadership: top reported pay $0 · 23 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.