Civic Intelligence

Miami Music Project Inc.

990 • Fiscal year 2018 • EIN 26-4084871

Jul 01, 2017 to Jun 30, 2018 • Filed on May 15, 2019

2125 Biscayne Blvd No 340Miami, FL 33137

(786) 422-5221

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.05x

Higher debt load relative to assets than 43% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

36th percentile

0.04x

Higher debt load relative to revenue than 36% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

71st percentile

14%

Higher net margin than 71% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

69th percentile

$100,129

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

86th percentile

28%

Faster asset growth than 86% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

77th percentile

22%

Faster revenue growth than 77% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$1,357,430

Up $295,846 (+28%) from 2017

Net Assets

Up

$1,284,082

Up $245,672 (+24%) from 2017

Liabilities

Up

$73,348

Up $50,174 (+217%) from 2017

Revenue

Up

$1,676,171

Up $306,360 (+22%) from 2017

Expenses

Up

$1,445,063

Up $100,031 (+7.4%) from 2017

Net Income

Up

$231,108

Up $206,329 (+833%) from 2017

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2010: $689,543Liabilities 2010: $7,844Net Assets 2010: $681,6992010Assets 2013: $1,004,285Liabilities 2013: $11,763Net Assets 2013: $992,5222013Assets 2015: $1,034,512Liabilities 2015: $23,209Net Assets 2015: $1,011,3032015Assets 2016: $1,050,433Liabilities 2016: $35,015Net Assets 2016: $1,015,4182016Assets 2017: $1,061,584Liabilities 2017: $23,174Net Assets 2017: $1,038,4102017Assets 2018: $1,357,430Liabilities 2018: $73,348Net Assets 2018: $1,284,0822018Assets 2019: $2,334,445Liabilities 2019: $92,782Net Assets 2019: $2,241,6632019Assets 2020: $2,415,923Liabilities 2020: $272,748Net Assets 2020: $2,143,1752020Assets 2021: $3,277,003Liabilities 2021: $356,222Net Assets 2021: $2,920,7812021Assets 2022: $3,947,856Liabilities 2022: $497,504Net Assets 2022: $3,450,3522022Assets 2024: $4,166,017Liabilities 2024: $624,404Net Assets 2024: $3,541,6132024

Highlighted filing

2018

Assets$1,357,430
Liabilities$73,348
Net Assets$1,284,082

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $294,3072010Expenses 2013: $546,6902013Revenue 2015: $868,657Expenses 2015: $876,292Net Income 2015: -$7,6352015Revenue 2016: $1,077,926Expenses 2016: $1,082,300Net Income 2016: -$4,3742016Revenue 2017: $1,369,811Expenses 2017: $1,345,032Net Income 2017: $24,7792017Revenue 2018: $1,676,171Expenses 2018: $1,445,063Net Income 2018: $231,1082018Revenue 2019: $2,737,198Expenses 2019: $1,815,337Net Income 2019: $921,8612019Revenue 2020: $1,747,871Expenses 2020: $1,828,760Net Income 2020: -$80,8892020Revenue 2021: $2,147,653Expenses 2021: $1,665,954Net Income 2021: $481,6992021Revenue 2022: $2,974,303Expenses 2022: $2,164,728Net Income 2022: $809,5752022Revenue 2024: $3,058,386Expenses 2024: $2,986,717Net Income 2024: $71,6692024

Highlighted filing

2018

Revenue$1,676,171
Expenses$1,445,063
Net Income$231,108
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 15, 2019
Return Version
2017v2.3
Gross Receipts
$1,676,171
Mission and Program Overview

Mission

Miami music project uses music as a tool for social transformation, empowering children to acquire values and achieve their full potential, positively affecting society, through the study and performance of music.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$665,200$807,165▲ $141,965
Cash and Non-Interest-Bearing Accounts$341,793$476,308▲ $134,515
Pledges and Grants Receivable$41,795$46,151▲ $4,356
Land, Buildings, and Equipment, Net$10,030$23,817▲ $13,787
Total Assets$1,061,584$1,357,430▲ $295,846
Other Assets Total$2,766$3,989▲ $1,223
Liabilities
Accounts Payable and Accrued Expenses$23,174$73,348▲ $50,174
Total Liabilities$23,174$73,348▲ $50,174
Net Assets / Fund Balance
Unrestricted Net Assets$1,038,410$1,034,082▼ $4,328
Temporarily Rstr Net Assets$0$250,000▲ $250,000
Total Net Assets Fund Balance$1,038,410$1,284,082▲ $245,672
Total Liabilities and Net Assets / Fund Balance$1,061,584$1,357,430▲ $295,846

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$23,817$9,654$33,471

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$0$400,000-$150,000$250,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Anna KlimalaExecutive DirectorFT$100,129$100,129

Board Members and Trustees

NameTitle
Wasim J ShomarChairman and President
Stanley CohenChairman Emeritus
Alan S BernsteinBoard Member
Astrid ArrarasBoard Member
Carol BerkmanBoard Member
Carol ReichBoard Member
Daniel C Mazanec EsqBoard Member
David F KamonsBoard Member
David WilsonBoard Member
Emil StefanuttiBoard Member
James JuddBoard Member
John CopelandBoard Member
Margarita Rohaidy DelgadoBoard Member
Nicole HenryBoard Member
Parker D ThomsonBoard Member
Rudolph F AragonBoard Member
Jack FirestoneTreasurer & Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,666,856
Program Service Revenue
$8,480
Investment Income
$835
Other Revenue
$0
All Other Contributions
$1,666,856
Change in Net Assets
$231,108

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,676,171
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$72,441
Total Revenue per Audited Statements
$1,748,612
Total Revenue per Form 990
$1,676,171
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$825,693
Salaries, Compensation, and Employee Benefits$619,370
Total Fundraising Expense$92,718
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$360,110$44,326$23,417$427,853
Current Officers, Directors, Trustees, and Key Employees$74,625$5,740$34,442$114,807
Office Expenses$44,775$2,730$11,880$59,385
Occupancy$41,417$5,442$3,514$50,373
Payroll Taxes$33,192$3,822$4,418$41,432
Other Employee Benefits$28,290$3,242$3,746$35,278
All Other Expenses$24,876$4,281$4,468$33,625
Conferences and Meetings$25,303$910$708$26,921
Other Expenses$25,465-$333$25,465
Travel$16,949$1,838$1,634$20,421
Fees for Services Other$15,121$1,384$3,550$20,055
Insurance$10,802$4,629-$15,431
Fees for Services Accounting$6,885$6,885-$13,770
Information Technology$10,936$608$608$12,152
Depreciation Depletion$4,483$498-$4,981
Total Functional Expenses$1,266,010$86,335$92,718$1,445,063

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,502,940
Expenses per Audited Statements$1,445,063
Total Expenses per Form 990$1,445,063
Expenses Not Reported on Form 990$57,877
Expenses Not Reported on Financial Statements$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
Annual disclosure for covered persons
No
Audit committee
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
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, Section B, Line 11B

The 990 is reviewed by the director of operations, then by the executive director and reviewed and approved by the treasurer/finance chair. Once filed, a copy of the 990 is provided to the board of directors as per request.

Form 990, Part VI, Section B, Line 15

Form 990, part vi, line 15a - compensation process for top official the board of trustees follows the standard practices for approval of compensation as suggested by the national council of nonprofits. It includes but is not limited to: - obtaining research and information to make a recommendation to the full board for the compensation of the director based on a review of comparability data (which may include written job offers for positions at similar organizations, salary and benefit compensation studies, telephone calls about similar positions at other organizations, information obtained from the irs form 990 filings of similar organizations. - documentation description of compensation and benefits, letter of engagement after the person is hired. Form 990, part vi, line 15a - compensation process for officers the board of trustees follows the standard practices for approval of compensation as suggested by the national council of nonprofits. It includes but is not limited to: - obtaining research and information to make a recommendation to the full board for the compensation of the director based on a review of comparability data (which may include written job offers for positions at similar organizations, salary and benefit compensation studies, telephone calls about similar positions at other organizations, information obtained from the irs form 990 filings of similar organizations. - documentation description of compensation and benefits, letter of engagement after the person is hired

Form 990, Part VI, Section C, Line 19

AS REQUESTED

Filing and Contact Details

Filer

Filer Name
Miami Music Project Inc
EIN
26-4084871
Phone
7864225221
Address
2125 BISCAYNE BLVD NO 340, MIAMI, FL 33137

Signing Officer

Name
Anna Klimala
Title
Executive Director
Phone
7864225221
Signed
2019-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anna Klimala
Formed
2008
Legal Domicile
Fl
Voting Board Members
15
Independent Board Members
15
Employees
21
Volunteers
50

Preparer

Firm
Deloitte Tax Llp
Address
333 SE 2ND AVENUE SUITE 3600, MIAMI, FL 33131
Preparer
Gregory Adamiec
Phone
3053723100
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

Miami music project uses music as a tool for social transformation, empowering children to acquire values and achieve their full potential, positively affecting society, through the study and performance of music.

FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS:

Miami music project's mission is to serve children from miami's economically and geographically underserved communities. Children from miami's most at-risk demographics need safe environments to form meaningful friendships while learning important skills to become contributing citizens. Students have limited access to affordable afterschool activities and quality arts education. Miami's vulnerable populations and immigrant communities must overcome significant odds such as parents working multiple jobs, or not being able to afford tuition or purchase necessary materials to participate and access these life-changing opportunities. This is particularly prevalent in the communities of liberty city, little haiti, little havana, and miami springs where miami music project operates. Mmp helps to reverse these trends. We serve students from at-risk demographics who don't receive the opportunities necessary to become exceptional students and college graduates. This year, our students were: 57% female 43% male 57% hispanic 40% black 3% white/other 82% students qualify for free/reduced lunch 96% identify as a minority. Miami music project is dedicated to reaching at-risk communities with high-quality music education designed to increase positive youth development and kindle the skills necessary to become successful artists, students, citizens, and leaders. Miami music project's programs are all tuition-free and accept students regardless of musical background. Instruments, classes, and busing are provided completely free-of-charge. All children with interest are welcomed into the program. This year, we provided programming across four community chapters serving children and youth with two hours of intense musical instruction daily on five levels of advancement. Students learned high-quality orchestra repertoire showcased during multiple performances year-round, at major and historic performing arts venues throughout miami dade county including new world center, adrienne arsht center, fiu wertheim performing arts center, shepard & ruth k. Broad performing arts center, and manuel artime theater. Students also engaged in national enrichment activities. Students traveled to los angeles, ca to partake in the national take a stand festival. This summer, 46 mmp students successfully auditioned to the esteemed interlochen summer arts camp and attended completely free of charge. Independent research has already shown how much mmp's programming can transform a child's life. For students, our program provides more than just music education. We provide music as a vehicle for social transformation. Mmp students showed: - improvement across competence, confidence, character, connection and caring, - better psychological adjustment, experiencing a reduction in social anxiety and problems with peers, - improved executive functioning, specifically working memory, - significant enhancements in traits such as grit, goal-directed hope and empathy, and - improvements in youth skills, attitudes and behaviors over the course of the school year. Miami music project was able to accomplish all of this while remaining fiscally sound and responsible. All activities were fully funded thanks to generous donations from individuals, foundations, and government cultural institutions. Miami music project's marketing objectives succeeded in increasing presence via diversification, grassroots marketing and multimedia awareness. We marketed in our chapters' surrounding communities by distributing information at schools, churches and community centers. Media presence in traditional/non-traditional outlets targeted local and national markets. Miami music project received placements in the peabody post (april 2018), april edition of the ensemble newsletter (april 2018), key biscayne magazine, compass the arts section (april 2018), pinecrest community newspaper (april 2018), sun sentinel (may 2018), miami today news (may 2018), june edition of the ensemble newsletter (june 201

Financial Statement Notes

PART X, LINE 2:

The organization has adopted the provision of asc no 740, "accounting for uncertainty in income taxes" ("asc no 740"). Asc 740 required that the impact of tax positions to be recognized in the financial statement if they are more likely than not of being sustained upon examination. Accordingly, no provision for income taxes is made in the financial statements. At 6/30/2018, there were no uncertain tax positions. The organization files tax returns with us federal and other tax authorities for which statue limitations may go back to the year end 2015.

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