New Music USA Inc

Nonprofit profile at a glance

EIN
130432981
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
New York, NY, USA
Phone
2127429309
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Official website

Reported finances

Revenue
$4,492,831
Expenses
$2,968,886
Assets
$22,114,837
Liabilities
$1,183,008

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • VANESSA REED (PRESIDENT AND CEO TO 5/2025)

Highest reported compensation

  • VANESSA REED (PRESIDENT AND CEO TO 5/2025): $229,477 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To nurture a vibrant and inclusive community for artists and listeners by supporting the creation, performance, and appreciation of new music throughout the united states.

What it reported doing in 2024

Communications/connectivity: new music USA works to create global awareness of u.s.-based artists and their music by providing platforms for audiences to access and experience the work of the field and participating as advocates in networks around the world. Through digital media programs like newmusicbox, our free community calendar, and social media platforms, we promote artists and engage with the important topics facing our community. We participate in international gatherings plus national conferences to advocate for a vibrant and inclusive community for the music of our time.

Operating model

Revenue model
Donor-supported. 78% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 49% for direct work, and 51% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 77
  • Accountability: 100
  • Sustainability: 79
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61%; rating input score 61
  • Program expense ratio: 74.9%; rating input score 75
  • Fundraising efficiency: $8.73 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.4%; rating input score 94; 24th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.4%; rating input score 99; 38th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: 33.9%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 7.45; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 3.2% per year; rating input score 100; 29th percentile among comparable filings
  • Revenue growth: 8.4% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 21st percentile among comparable filings

Details

  • Where the money goes: 61% of revenue deployed · 74.9% of spending went to programs
  • Governance: 17 of 17 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2.2M in reported program spending
  • Leadership: top reported pay $229K · 18 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 89 filed money-flow records
  • Related organizations: 88 filed related-organization links
  • 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 — Financial Efficiency: Fundraising efficiency scored 33/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.