Civic Intelligence

Jack Music Inc Jack Quartet

990 • Fiscal year 2017 • EIN 26-3153404

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 01, 2018

350 Fort Washington AvenueNew York, NY 10033

(917) 574-3447

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

71st percentile

0.10x

Higher debt load relative to assets than 71% of similar nonprofits.

2017 filings • NTEE A • <$500k nonprofits • Source year 2017

Liabilities / Revenue

65th percentile

0.02x

Higher debt load relative to revenue than 65% of similar nonprofits.

2017 filings • NTEE A • <$500k nonprofits • Source year 2017

Net Margin

79th percentile

21%

Higher net margin than 79% of similar nonprofits.

2017 filings • NTEE A • <$500k nonprofits • Source year 2017

Top Officer Pay

95th percentile

$51,250

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 10.6% of source-year revenue.

2017 filings • NTEE A • <$500k nonprofits • Source year 2017

Asset Growth

93rd percentile

170%

Faster asset growth than 93% of similar nonprofits.

2017 filings • NTEE A • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

55th percentile

5.9%

Faster revenue growth than 55% of similar nonprofits.

2017 filings • NTEE A • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Up

$111,843

Up $70,492 (+170%) from 2016

Net Assets

Up

$100,821

Up $100,313 (+19747%) from 2016

Liabilities

Down

$11,022

Down $29,821 (-73%) from 2016

Revenue

Up

$481,343

Up $26,772 (+5.9%) from 2016

Expenses

Down

$381,030

Down $27,908 (-6.8%) from 2016

Net Income

Up

$100,313

Up $54,680 (+120%) from 2016

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0-$200KAssets 2010: $3,015Liabilities 2010: $10,482Net Assets 2010: -$7,4672010Assets 2014: $15,383Liabilities 2014: $41,631Net Assets 2014: -$26,2482014Assets 2015: $37,381Liabilities 2015: $82,506Net Assets 2015: -$45,1252015Assets 2016: $41,351Liabilities 2016: $40,843Net Assets 2016: $5082016Assets 2017: $111,843Liabilities 2017: $11,022Net Assets 2017: $100,8212017Assets 2018: $136,663Liabilities 2018: $1,912Net Assets 2018: $134,7512018Assets 2019: $159,425Liabilities 2019: $5,887Net Assets 2019: $153,5382019Assets 2021: $470,697Liabilities 2021: $23,987Net Assets 2021: $446,7102021Assets 2022: $352,994Liabilities 2022: $18,807Net Assets 2022: $334,1872022

Highlighted filing

2017

Assets$111,843
Liabilities$11,022
Net Assets$100,821

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2010: $169,119Expenses 2010: $172,719Net Income 2010: -$3,6002010Revenue 2014: $353,447Expenses 2014: $376,322Net Income 2014: -$22,8752014Revenue 2015: $355,820Expenses 2015: $374,698Net Income 2015: -$18,8782015Revenue 2016: $454,571Expenses 2016: $408,938Net Income 2016: $45,6332016Revenue 2017: $481,343Expenses 2017: $381,030Net Income 2017: $100,3132017Revenue 2018: $524,924Expenses 2018: $490,994Net Income 2018: $33,9302018Revenue 2019: $606,124Expenses 2019: $587,810Net Income 2019: $18,3142019Revenue 2021: $767,436Expenses 2021: $610,766Net Income 2021: $156,6702021Revenue 2022: $576,042Expenses 2022: $688,565Net Income 2022: -$112,5232022

Highlighted filing

2017

Revenue$481,343
Expenses$381,030
Net Income$100,313
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 1, 2018
Return Version
2017v2.2
Gross Receipts
$481,343
Mission and Program Overview

Mission

To present, promote, and educate the public community about new music as well as expand and enhance the depth of the string quartet repertoire by collaborating with composers on the interpretation of existing works and the commissioning of new works.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$18,385$81,837▲ $63,452
Accounts Receivable$20,920$13,077▼ $7,843
Prepaid Expenses and Deferred Charges$2,014$8,537▲ $6,523
Land, Buildings, and Equipment, Net$32$0▼ $32
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$41,351$111,843▲ $70,492
Other Assets Total-$8,392-
Liabilities
Unsecured Notes Loans Payable$22,950--
Accounts Payable and Accrued Expenses$17,893$11,022▼ $6,871
Total Liabilities$40,843$11,022▼ $29,821
Net Assets / Fund Balance
Unrestricted Net Assets$-32,462$87,311▲ $119,773
Temporarily Rstr Net Assets$32,970$13,510▼ $19,460
Total Net Assets Fund Balance$508$100,821▲ $100,313
Total Liabilities and Net Assets / Fund Balance$41,351$111,843▲ $70,492

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$2,275-
Other Assets Org$8,392--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
John P RichardsExecutive DirectorFT$51,250$51,250
Jeremiah CampbellDirectorFT$47,750$47,750
AUSTIN WullimanDirectorFT$46,750$46,750
Christopher OttoTreasurerFT$46,750$46,750

Board Members and Trustees

NameTitle
James HirschfeldPresident
Daniel BaldiniDirector
Elmore DeMottDirector
Kate SheeranDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$81,723
Program Service Revenue
$399,237
Investment Income
$0
Other Revenue
$383
All Other Contributions
$81,723
Change in Net Assets
$100,313
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$207,693
Other Expenses$173,337
Total Fundraising Expense$9,523
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$165,550$19,250$7,700$192,500
Travel$86,844--$86,844
Payroll Taxes$12,690$1,475$590$14,755
Fees for Services Other$6,599$7,521$70$14,190
Fees for Services Accounting-$4,870-$4,870
Interest-$1,342-$1,342
Other Expenses$1,260$1,683$1,145$1,260
All Other Expenses-$625-$625
Other Employee Benefits$376$44$18$438
Payment Travel Entrtnmnt Publicly Ofcl$126--$126
Total Functional Expenses$334,697$36,810$9,523$381,030
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The organization's policy regarding the review of the form 990 is as follows: the president of the board of directors is responsible for reviewing and approving the form 990 on behalf of the board of directors.copies of the form 990 are made available to the entire board of directors for their review and comments.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

On an annual basis all board members sign a conflict of interest statement.the president of the board ensures that all signed forms are received from the board and made available to the auditors during the audit process.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The compensation of all employees is proposed by the president and vice-president of jack music, inc. And approved by unanimous consent of the board of directors on an annual basis as part of the annual budget.compensation is determined by formulating a practical budget that will keep the organization in sound financial standing. The rationale and discussion points are documented in the board minutes.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The compensation of all employees is proposed by the president and vice- president of jack music, inc. And approved by unanimous consent of the board of directors on an annual basis as part of the annual budget.compensation is determined by formulating a practical budget that will keep the organization in sound financial standing. The rationale and discussion points are documented in the board minutes.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

All policies/documents that are required to be provided to the public are available upon request.

Filing and Contact Details

Filer

Filer Name
Jack Music Inc
EIN
26-3153404
Phone
9175743447
Address
350 Fort Washington Avenue, NEW YORK, NY 10033

Signing Officer

Name
John P Richards
Title
Executive Director
Signed
2018-08-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John P Richards
Formed
2008
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
4

Preparer

Firm
Zelin & Associates CPA LLC
Address
555 8th Ave Ste 2203, New York, NY 10018
Preparer
Steven Zelin CPA
Phone
6466784496
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02014
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08537
IRS990/PrincipalOfficerNm0John P Richards
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0711130
IRS990/ProgramServiceRevenueGrp/Desc0PERFORMANCE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0399237
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0399237
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IRS990/PYContributionsGrantsAmt079159
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/ProgramServicesAmt0126
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IRS990/PYOtherExpensesAmt0254340
IRS990/PYOtherRevenueAmt01
IRS990/PYProgramServiceRevenueAmt0375411
IRS990/PYRevenuesLessExpensesAmt045633
IRS990/PYSalariesCompEmpBnftPaidAmt0154598
IRS990/PYTotalExpensesAmt0408938
IRS990/PYTotalRevenueAmt0454571
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0100313
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt081723
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt079159
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt021606
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt034645
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt035436
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0252569
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0399620
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0375412
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0334214
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0315588
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0328439
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01753273
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt03214
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus4YearsAmt02387
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt05601
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportPY509Pct01.00000
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0481343
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0454571
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0353447
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0366262
IRS990ScheduleA/Total509Grp/TotalAmt02011443
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0481343
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02011443
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt02275
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt02275
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt08392
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TAX REFUND RECEIVABLE
IRS990ScheduleD/TotalBookValueOtherAssetsAmt08392
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S POLICY REGARDING THE REVIEW OF THE FORM 990 IS AS FOLLOWS: THE PRESIDENT OF THE BOARD OF DIRECTORS IS RESPONSIBLE FOR REVIEWING AND APPROVING THE FORM 990 ON BEHALF OF THE BOARD OF DIRECTORS.COPIES OF THE FORM 990 ARE MADE AVAILABLE TO THE ENTIRE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ON AN ANNUAL BASIS ALL BOARD MEMBERS SIGN A CONFLICT OF INTEREST STATEMENT.THE PRESIDENT OF THE BOARD ENSURES THAT ALL SIGNED FORMS ARE RECEIVED FROM THE BOARD AND MADE AVAILABLE TO THE AUDITORS DURING THE AUDIT PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION OF ALL EMPLOYEES IS PROPOSED BY THE PRESIDENT AND VICE-PRESIDENT OF JACK MUSIC, INC. AND APPROVED BY UNANIMOUS CONSENT OF THE BOARD OF DIRECTORS ON AN ANNUAL BASIS AS PART OF THE ANNUAL BUDGET.COMPENSATION IS DETERMINED BY FORMULATING A PRACTICAL BUDGET THAT WILL KEEP THE ORGANIZATION IN SOUND FINANCIAL STANDING. THE RATIONALE AND DISCUSSION POINTS ARE DOCUMENTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE COMPENSATION OF ALL EMPLOYEES IS PROPOSED BY THE PRESIDENT AND VICE- PRESIDENT OF JACK MUSIC, INC. AND APPROVED BY UNANIMOUS CONSENT OF THE BOARD OF DIRECTORS ON AN ANNUAL BASIS AS PART OF THE ANNUAL BUDGET.COMPENSATION IS DETERMINED BY FORMULATING A PRACTICAL BUDGET THAT WILL KEEP THE ORGANIZATION IN SOUND FINANCIAL STANDING. THE RATIONALE AND DISCUSSION POINTS ARE DOCUMENTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL POLICIES/DOCUMENTS THAT ARE REQUIRED TO BE PROVIDED TO THE PUBLIC ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt041351
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IRS990/TotalAssetsGrp/BOYAmt041351
IRS990/TotalAssetsGrp/EOYAmt0111843
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt081723
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt09523
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt036810
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0334697
IRS990/TotalFunctionalExpensesGrp/TotalAmt0381030
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt040843
IRS990/TotalLiabilitiesEOYAmt011022
IRS990/TotalLiabilitiesGrp/BOYAmt040843
IRS990/TotalLiabilitiesGrp/EOYAmt011022
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0508
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IRS990/TotalProgramServiceExpensesAmt0334697
IRS990/TotalProgramServiceRevenueAmt0399237
IRS990/TotalReportableCompFromOrgAmt0192500
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0481343
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt041351
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0111843
IRS990/TravelGrp/ProgramServicesAmt086844
IRS990/TravelGrp/TotalAmt086844

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