Civic Intelligence

Bmi Foundation Inc.

990 • Fiscal year 2018 • EIN 13-3249311

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 26, 2019

Organization ProfileBMIFOUNDATION.ORG
7 Wtc 250 Greenwich StreetNew York, NY 10007

(212) 220-3176

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$2,706,389

Flat from 2018

Net Assets

Flat

$2,696,389

Flat from 2018

Liabilities

Flat

$10,000

Flat from 2018

Revenue And Expenses

Revenue

Flat

$668,273

Flat from 2018

Expenses

Flat

$335,957

Flat from 2018

Net Income

Flat

$332,316

Flat from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $2,401,413Liabilities 2011: $0Net Assets 2011: $2,401,4132011Assets 2012: $2,378,583Liabilities 2012: $0Net Assets 2012: $2,378,5832012Assets 2013: $2,499,516Liabilities 2013: $0Net Assets 2013: $2,499,5162013Assets 2014: $2,705,185Liabilities 2014: $0Net Assets 2014: $2,705,1852014Assets 2015: $2,724,057Liabilities 2015: $3,000Net Assets 2015: $2,721,0572015Assets 2016: $2,747,019Liabilities 2016: $0Net Assets 2016: $2,747,0192016Assets 2017: $2,747,725Liabilities 2017: $0Net Assets 2017: $2,747,7252017Assets 2018: $2,706,389Liabilities 2018: $10,000Net Assets 2018: $2,696,3892018Assets 2018: $2,706,389Liabilities 2018: $10,000Net Assets 2018: $2,696,3892018Assets 2019: $2,707,041Liabilities 2019: $0Net Assets 2019: $2,707,0412019Assets 2020: $3,125,484Liabilities 2020: $89,093Net Assets 2020: $3,036,3912020Assets 2021: $3,242,347Liabilities 2021: $104,250Net Assets 2021: $3,138,0972021Assets 2022: $2,672,117Liabilities 2022: $93,413Net Assets 2022: $2,578,7042022Assets 2023: $2,800,024Liabilities 2023: $81,686Net Assets 2023: $2,718,3382023Assets 2024: $3,072,593Liabilities 2024: $66,656Net Assets 2024: $3,005,9372024

Highlighted filing

2018

Assets$2,706,389
Liabilities$10,000
Net Assets$2,696,389
Open 2018 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2011: $359,460Expenses 2011: $231,385Net Income 2011: $128,0752011Expenses 2012: $210,3592012Revenue 2013: $356,247Expenses 2013: $235,315Net Income 2013: $120,9322013Revenue 2014: $459,021Expenses 2014: $253,352Net Income 2014: $205,6692014Revenue 2015: $281,116Expenses 2015: $222,395Net Income 2015: $58,7212015Revenue 2016: $207,162Expenses 2016: $237,784Net Income 2016: -$30,6222016Revenue 2017: $354,268Expenses 2017: $320,302Net Income 2017: $33,9662017Revenue 2018: $668,273Expenses 2018: $335,957Net Income 2018: $332,3162018Revenue 2018: $668,273Expenses 2018: $335,957Net Income 2018: $332,3162018Revenue 2019: $338,717Expenses 2019: $328,065Net Income 2019: $10,6522019Revenue 2020: $325,719Expenses 2020: $343,838Net Income 2020: -$18,1192020Revenue 2021: $326,418Expenses 2021: $412,909Net Income 2021: -$86,4912021Revenue 2022: $392,464Expenses 2022: $394,852Net Income 2022: -$2,3882022Revenue 2023: $231,691Expenses 2023: $400,993Net Income 2023: -$169,3022023Revenue 2024: $607,301Expenses 2024: $401,199Net Income 2024: $206,1022024

Highlighted filing

2018

Revenue$668,273
Expenses$335,957
Net Income$332,316
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Mar 26, 2019
Return Version
2017v2.3
Gross Receipts
$3,029,133
Mission and Program Overview

Mission

Bmi foundation, inc. Issues grants after consideration by an advisory panel to organzations and individuals requesting assistance for music-related activities.

The foundation issues grants to individuals and organizations in music fields.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,558,405$2,540,159▼ $18,246
Cash and Non-Interest-Bearing Accounts$189,320$153,730▼ $35,590
Pledges and Grants Receivable-$12,500-
Total Assets$2,747,725$2,706,389▼ $41,336
Liabilities
Grants Payable-$10,000-
Total Liabilities$0$10,000▲ $10,000
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,383,592$2,328,092▼ $55,500
Permanently Rstr Net Assets-$308,820-
Unrestricted Net Assets$364,133$59,477▼ $304,656
Total Net Assets Fund Balance$2,747,725$2,696,389▼ $51,336
Total Liabilities and Net Assets / Fund Balance$2,747,725$2,706,389▼ $41,336
Compensation and Service Providers

Board Members and Trustees

NameTitle
Deirdre ChadwickPresident
Samantha CoxVice President
Clay BradleyTrustee
Corey FieldTrustee
Pamela WilliamsTrustee
Dan ColemanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$121,063
Program Service Revenue
$0
Investment Income
$547,210
Other Revenue
$0
All Other Contributions
$121,063
Change in Net Assets
$332,316

Audited Revenue Reconciliation

Revenue per Audited Statements
$651,753
Revenue Not Reported on Financial Statements
$16,520
Revenue Not Reported on Form 990
$-383,652
Total Revenue per Audited Statements
$268,101
Total Revenue per Form 990
$668,273
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$167,600
Other Expenses$121,025
Salaries, Compensation, and Employee Benefits$47,332
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$108,830--$108,830
Grants to Domestic Orgs$58,770--$58,770
Comp Disqual Persons-$33,961-$33,961
Fees for Services Accounting-$17,800-$17,800
Fees for Service Investment Mgmnt Fees-$16,520-$16,520
Office Expenses-$13,964-$13,964
Payroll Taxes-$13,371-$13,371
Travel-$7,087-$7,087
Fees for Services Other-$5,891-$5,891
Fees for Services Legal-$2,889-$2,889
Other Expenses-$2,485-$2,485
Conferences and Meetings-$2,350-$2,350
Insurance-$506-$506
Advertising-$82-$82
Total Functional Expenses$167,600$168,357$0$335,957

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$335,957
Expenses per Audited Statements$319,437
Total Expenses per Audited Statements$319,437
Expenses Not Reported on Financial Statements$16,520
Other Expense Adjustments$16,520
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The treasurer reveiws the form 990 before filing with the internal revenue service.”

Form 990, Part VI, Section C, Line 19

“All documents, financial statements and tax returns are available upon request.”

Filing and Contact Details

Filer

Filer Name
Bmi Foundation Inc
EIN
13-3249311
Phone
2122203176
Address
7 WTC 250 GREENWICH STREET, NEW YORK, NY 10007

Signing Officer

Name
Deirdre Chadwick
Title
President
Phone
2122203176
Signed
2019-03-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Deirdre Chadwick
Formed
1985
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
2
Employees
1
Volunteers
0

Preparer

Firm
Lbmc Pc
Address
PO BOX 1869, BRENTWOOD, TN 37024-1869
Preparer
Jill Hudson
Phone
6153774600
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The foundation is an exempt organization from federal income taxes under the provisions of irs code secton 501(c)(3) and, accordingly, no provision for federal income taxes is included in the financial statements. The foundation recognizes the tax benenfit associated with a tax position taken for tax return purposes when it is more likely than not the position will be sustained. The foundation does not believe there are any material uncertain tax positions that qualify for either recognition or disclosure in the financial statements. It is the foundations policy to recognize interest and/or penalties related to income tax matters in income tax expense. As of june 30, 2018, the foundation has accrued no interest or penalties related to uncertain tax positions. The foundation is subject to u.s. Federal tax examination for the years ended after june 30, 2013.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Investment expenses 16,520.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS AN EXEMPT ORGANIZATION FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF IRS CODE SECTON 501(C)(3) AND, ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. THE FOUNDATION RECOGNIZES THE TAX BENENFIT ASSOCIATED WITH A TAX POSITION TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED. THE FOUNDATION DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. IT IS THE FOUNDATIONS POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. AS OF JUNE 30, 2018, THE FOUNDATION HAS ACCRUED NO INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE FOUNDATION IS SUBJECT TO U.S. FEDERAL TAX EXAMINATION FOR THE YEARS ENDED AFTER JUNE 30, 2013.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1INVESTMENT EXPENSES 16,520.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0335957
IRS990ScheduleD/TotalRevenuePerForm990Amt0668273
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0268101
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0319437
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0104100
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt022
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TREASURER REVEIWS THE FORM 990 BEFORE FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DOCUMENTS, FINANCIAL STATEMENTS AND TAX RETURNS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt02383592
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt02328092
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02747725
IRS990/TotalAssetsEOYAmt02706389
IRS990/TotalAssetsGrp/BOYAmt02747725
IRS990/TotalAssetsGrp/EOYAmt02706389
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0121063
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0168357
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0167600
IRS990/TotalFunctionalExpensesGrp/TotalAmt0335957
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt010000
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt010000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02747725
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02696389
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0167600
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0547210
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0668273
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02747725
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02706389
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt07087
IRS990/TravelGrp/TotalAmt07087
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0364133
IRS990/UnrestrictedNetAssetsGrp/EOYAmt059477
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07 WTC 250 GREENWICH ST
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010007
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0BMIFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DEIRDRE CHADWICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02122203176
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-03-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BMI FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0BMIF
ReturnHeader/Filer/EIN0133249311
ReturnHeader/Filer/PhoneNum02122203176
ReturnHeader/Filer/USAddress/AddressLine1Txt07 WTC 250 GREENWICH STREET
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010007
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DC1D8C59081ABDE50D8C7C99A161EA80A284C800
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId00909EE19DA5EE0943A346F9113D189B55A34DF0F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt08.42.53.250
ReturnHeader/FilingSecurityInformation/IPDt02019-03-26
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm019:44:56
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0621199757
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LBMC PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1869
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BRENTWOOD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0370241869
ReturnHeader/PreparerPersonGrp/PhoneNum06153774600
ReturnHeader/PreparerPersonGrp/PreparationDt02019-03-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JILL HUDSON
ReturnHeader/ReturnTs02019-04-03T15:28:50-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,706,389
Liabilities
$10,000
Net assets
$2,696,389
Revenue
$668,273
Expenses
$335,957
Net income
$332,316
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.07$0.07$3.01$0.61$0.40$0.21
2023Detailed filing. Detailed filing data is available for this year.$2.80$0.08$2.72$0.23$0.40$0.17
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.67$0.09$2.58$0.39$0.39$0.00
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.24$0.10$3.14$0.33$0.41$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.13$0.09$3.04$0.33$0.34$0.02
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.71$0.00$2.71$0.34$0.33$0.01
2018Detailed filing. Detailed filing data is available for this year.$2.71$0.01$2.70$0.67$0.34$0.33
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.71$0.01$2.70$0.67$0.34$0.33
2017Detailed filing. Detailed filing data is available for this year.$2.75$0.00$2.75$0.35$0.32$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.75$0.00$2.75$0.21$0.24$0.03
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.72$0.00$2.72$0.28$0.22$0.06
2014Detailed filing. Detailed filing data is available for this year.$2.71$0.00$2.71$0.46$0.25$0.21
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$2.50$0.00$2.50$0.36$0.24$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.38$0.00$2.38$0.21
2011Summary only. Only limited summary data is available for this year.$2.40$0.00$2.40$0.36$0.23$0.13