SoundExchange
Legal name: Soundexchange Inc
Nonprofit profile at a glance
- EIN
- 760742496
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Washington, DC, USA
- Phone
- 2026405858
- Rating confidence
- Limited
- Sector
- Business and Industry
Reported finances
- Revenue
- $95,229,752
- Expenses
- $87,410,926
- Assets
- $778,089,857
- Liabilities
- $694,095,030
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
26 people listed
Executive titles in this filing
- MICHAEL J HUPPE (PRESIDENT & CEO)
Highest reported compensation
- MICHAEL J HUPPE (PRESIDENT & CEO): $1,960,417 total reported compensation
- ANJULA SINGH (CFO & COO): $977,278 total reported compensation
- LUIS F HECTOR BONILLA (CTO): $707,709 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
SoundExchange is an independent digital performance rights organization with a mission to support, protect and propel the music industry forward.
What it reported doing in 2024
Soundexchange provides a full suite of innovative technology solutions for the entire music industry, serving labels, artists, producers, and publishers. Independently formed in 2003 to build a fairer, simpler, and more efficient music industry, soundexchange collects and distributes digital performance royalties on behalf of more than 749,000 recording artists and sound recording rights owners and growing. Through proprietary music tech solutions, soundexchange transforms billions of lines of music streaming data into accurate and timely revenue, with 90% of royalties paid out within 45 days of receipt. Soundexchange has paid out more than $11 billion to creators since its inception.
Operating model
- Revenue model
- Earned-program. 70% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 75
- Accountability: 95
- Sustainability: 61
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Yes; rating input score 100
Accountability
- Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 8.2%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 8.9; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: 0.89; rating input score 13; 13th percentile among comparable filings
- Officer compensation ratio: 7.8%; rating input score 6; 6th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 9.9% per year; rating input score 100; 76th percentile among comparable filings
- Asset growth: 6.6% per year; rating input score 100; 48th percentile among comparable filings
Details
- What they do: 4 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 17 of 17 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $2M · 26 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $21.4M reported
- Consistency: 13 of 13 current checks pass
- Schedules: 6 filed schedules · includes foreign activity, grants, executive pay, and related organizations
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 10 filed money-flow records
- Related organizations: 4 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.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Officer compensation ratio scored 6/100.
- High — Sustainability: Liabilities to assets ratio scored 13/100.