Long Island Music and Entertainment Hall of Fame Inc

Nonprofit profile at a glance

EIN
470958492
IRS 990 coverage
2016–2025
Forms available
Form 990 2025, Form 990-EZ 2021, Form 990-N 2015
Location
Stony Brook, NY, USA
Phone
5167426123
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
History Museums

Official website

Reported finances

Revenue
$956,331
Expenses
$1,079,303
Assets
$1,277,991
Liabilities
$211,751

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

22 people listed

Executive titles in this filing

  • JUDI LACH VEECK (EXECUTIVE DIRECTOR)

Highest reported compensation

  • BARRY FISCH (BOARD TRUSTEE AND GENERAL MANAGER): $71,000 total reported compensation
  • JUDI LACH VEECK (EXECUTIVE DIRECTOR): $28,984 total reported compensation
  • KELLY MAUDE LEUNG (BOARD TRUSTEE AND COMMUNITY OUTREACH): $3,692 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To celebrate the rich music and entertainment heritage of long island and support music and arts education for future generations.

What it reported doing in 2025

The long island music & entertainment hall of fame was created to celebrate and preserve long island's rich and diverse musical, artistic, and cultural legacy for generations to come.established in 2004, we have inducted nearly 140 musicians and industry professionals in every musical genre including rock, pop, hip-hop, classical, blues, folk, and jazz. We believe there is no place in the world that has produced as much musical talent in as many genres - as long island.our beautiful 2-story 8800 square foot hall of fame museum located in stony brook, ny opened in 2022 and has already been recognized as one of the top music hall of fames in the country by the grammy awards, one of the top tourist attractions on long island by i love ny/ny tourism, and we have been covered positively by every local and major media in the New York market. Our current and much celebrated billy joel my life exhibit has attracted tens of thousands of visitors in less than 18 months.we have created dozens of programs reaching music lovers from 18-80, including health and harmony, where we partner with a major long island healthcare system to bring music therapy and services to long island seniors, free of charge. We host weekly concerts on our stage with are free with admission and to members, which showcase local long island talent performing original music, comedy, and films, giving exposure to potential future hall of famers.our many educational programs engage school districts throughout long island as we host high school band camps, invite local high school bands and orchestras to perform on our stage, and engage teachers through our exclusive area teachrock collaboration with renowned musician steven van zandt. We have awarded tens of thousands of dollars in scholarships to high school students, including over $10,000 in 2025, and celebrate educators annually with our educator of note awards.with our expansion into entertainment, we now showcase monthly films directed by long island filmmakers and are planning our inaugural music documentary film festival in august 2025. Major comedy and film exhibitions are in the planning stages.we have established ourselves as a vibrant community of musicians, filmmakers, comedians and aspiring artists who have found a new home at our hall of fame museum, and we are proud to have created a new cultural institution that is transforming the way the world looks at and admires - long island's unequaled music and cultural contributions.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 99% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 90
  • Accountability: 92
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.6%; rating input score 99
  • Program expense ratio: 87.4%; rating input score 87
  • Fundraising efficiency: $20.57 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 24th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 78th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 86.4%; rating input score 86; 24th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -12.9%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 1.18; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 9.6%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 22% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 18.5% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 22.3% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 98.6% of revenue deployed · 87.4% of spending went to programs
  • Governance: 19 of 22 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $943K in reported program spending
  • Leadership: top reported pay $71K · 22 people listed
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2016 to 2025
  • Contacts: How to reach this organization
  • Money network: 3 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.

  • High — Sustainability: Operating margin scored 11/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.