Civic Intelligence

Namm Foundation a Not-For-Profit Corporation

990 • Fiscal year 2023 • EIN 33-0797657

Oct 01, 2022 to Sep 30, 2023 • Filed on Mar 20, 2024

Organization Profilewww.nammfoundation.org
5790 Armada DriveCarlsbad, CA 92008

(760) 438-8001

Siviq Scores

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

Liabilities / Assets

30th percentile

0.06x

Higher debt load relative to assets than 30% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

49th percentile

0.24x

Higher debt load relative to revenue than 49% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

80th percentile

25%

Higher net margin than 80% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

42nd percentile

3.5%

Faster asset growth than 42% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

99th percentile

1993%

Faster revenue growth than 99% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$10,284,481

Up $344,563 (+3.5%) from 2022

Net Assets

Up

$9,711,090

Up $616,004 (+6.8%) from 2022

Liabilities

Down

$573,391

Down $271,441 (-32%) from 2022

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin80th percentile

Revenue

Up

$2,435,164

Up $2,318,831 (+1993%) from 2022

Expenses

Down

$1,819,160

Down $717,596 (-28%) from 2022

Net Income

Up

$616,004

Up $3,036,427 (+125%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

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

$15M$10M$5.0M$0Assets 2010: $1,710,675Liabilities 2010: $889,344Net Assets 2010: $821,3312010Assets 2011: $1,621,613Liabilities 2011: $716,763Net Assets 2011: $904,8502011Assets 2012: $1,755,417Liabilities 2012: $693,202Net Assets 2012: $1,062,2152012Assets 2013: $7,388,919Liabilities 2013: $584,637Net Assets 2013: $6,804,2822013Assets 2014: $8,782,275Liabilities 2014: $578,441Net Assets 2014: $8,203,8342014Assets 2015: $7,550,091Liabilities 2015: $648,043Net Assets 2015: $6,902,0482015Assets 2016: $8,776,947Liabilities 2016: $575,253Net Assets 2016: $8,201,6942016Assets 2017: $10,737,676Liabilities 2017: $941,087Net Assets 2017: $9,796,5892017Assets 2018: $11,427,198Liabilities 2018: $695,506Net Assets 2018: $10,731,6922018Assets 2019: $12,206,768Liabilities 2019: $988,235Net Assets 2019: $11,218,5332019Assets 2020: $10,996,876Liabilities 2020: $816,253Net Assets 2020: $10,180,6232020Assets 2021: $11,139,064Liabilities 2021: $723,276Net Assets 2021: $10,415,7882021Assets 2022: $9,939,918Liabilities 2022: $844,832Net Assets 2022: $9,095,0862022Assets 2023: $10,284,481Liabilities 2023: $573,391Net Assets 2023: $9,711,0902023Assets 2024: $10,923,679Liabilities 2024: $152,209Net Assets 2024: $10,771,4702024

Highlighted filing

2023

Assets$10,284,481
Liabilities$573,391
Net Assets$9,711,090
Open 2023 Filing

Operations Trend

Revenue Growth99th percentile

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $2,179,4732010Expenses 2011: $1,722,7502011Expenses 2012: $2,016,0152012Expenses 2013: $1,746,4892013Revenue 2014: $3,673,039Expenses 2014: $2,273,487Net Income 2014: $1,399,5522014Revenue 2015: $1,645,376Expenses 2015: $2,947,162Net Income 2015: -$1,301,7862015Revenue 2016: $3,934,276Expenses 2016: $2,634,630Net Income 2016: $1,299,6462016Revenue 2017: $4,532,024Expenses 2017: $2,937,129Net Income 2017: $1,594,8952017Revenue 2018: $3,451,104Expenses 2018: $2,849,446Net Income 2018: $601,6582018Revenue 2019: $3,411,645Expenses 2019: $2,924,804Net Income 2019: $486,8412019Revenue 2020: $1,270,328Expenses 2020: $2,308,237Net Income 2020: -$1,037,9092020Revenue 2021: $2,742,162Expenses 2021: $2,506,997Net Income 2021: $235,1652021Revenue 2022: $116,333Expenses 2022: $2,536,756Net Income 2022: -$2,420,4232022Revenue 2023: $2,435,164Expenses 2023: $1,819,160Net Income 2023: $616,0042023Revenue 2024: $2,489,971Expenses 2024: $1,430,392Net Income 2024: $1,059,5792024

Highlighted filing

2023

Revenue$2,435,164
Expenses$1,819,160
Net Income$616,004
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Mar 20, 2024
Return Version
2022v5.0
Gross Receipts
$2,503,498
Mission and Program Overview

Mission

Advancing active participation in music making across the lifespan by supporting scientific research, philanthropic giving and public service programs from the international music products industry and providing a museum to display historical treasures in music.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,059,412$5,869,133▲ $809,721
Savings and Temporary Cash Investments$3,211,020$3,017,882▼ $193,138
Land, Buildings, and Equipment, Net$1,021,160$928,828▼ $92,332
Inventories for Sale or Use$40,630$40,637▲ $7
Prepaid Expenses and Deferred Charges$35,166$26,145▼ $9,021
Cash and Non-Interest-Bearing Accounts$191,957$9,948▼ $182,009
Accounts Receivable-$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-
Intangible Assets-$0-
Total Assets$9,939,918$10,284,481▲ $344,563
Other Assets Total$380,573$391,908▲ $11,335
Liabilities
Grants Payable$369,875$494,375▲ $124,500
Accounts Payable and Accrued Expenses$474,957$79,016▼ $395,941
Total Liabilities$844,832$573,391▼ $271,441
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,714,513$9,319,182▲ $604,669
Net Assets With Donor Restrictions$380,573$391,908▲ $11,335
Total Net Assets Fund Balance$9,095,086$9,711,090▲ $616,004
Total Liabilities and Net Assets / Fund Balance$9,939,918$10,284,481▲ $344,563

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$928,828$1,204,222$2,133,050
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Chris WhiteChairman
John MlynczakPresident
Dinah GretschVice Chairman
Victor WootenDirector
Derek MurphyCFO
Susan LippSecretary-Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$1,514,678
Program Service Revenue
$0
Investment Income
$866,583
Other Revenue
$53,903
All Other Contributions
$1,463,854
Change in Net Assets
$616,004

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,435,164
Total Revenue per Audited Statements
$2,435,164
Total Revenue per Form 990
$2,435,164
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,239,200
Grants and Similar Amounts Paid$579,960
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$489,960--$489,960
Fees for Services Other$131,108$33,217-$164,325
Advertising$107,897$696-$108,593
Depreciation Depletion-$92,332-$92,332
Foreign Grants$90,000--$90,000
Other Expenses$53,000--$53,000
Travel$27,922--$27,922
All Other Expenses$15,472$12,054-$27,526
Total Functional Expenses$1,680,861$138,299$0$1,819,160

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,819,160
Total Expenses per Audited Statements$1,819,160
Total Expenses per Form 990$1,819,160
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Nat String Proj ConCarlsbad, CA--$50,000
Guitars and Access MarketingCarlsbad, CA--$40,000
Perc Marketing CounCarlsbad, CA--$35,000
Tech Inst for MusicCarlsbad, CA--$35,000
Guitars in the ClassroomCarlsbad, CA--$25,000
Mr Hollands OpusCarlsbad, CA--$22,500
Music WillCarlsbad, CA--$22,500
SD Youth SmphyCarlsbad, CA--$22,500
Perc Arts SocietyCarlsbad, CA--$20,000
Save the MusicCarlsbad, CA--$20,000
Young AudiencesCarlsbad, CA--$20,000
Young AudiencesCarlsbad, CA--$20,000
Dallas Wind SymphonyCarlsbad, CA--$15,000
Arts & Learning ConservCarlsbad, CA--$10,000
Music Haven IncCarlsbad, CA--$10,000
Songwriting With SoldiersCarlsbad, CA--$10,000
The Sphinx OrganizationCarlsbad, CA--$10,000
Baltimore SymphonyCarlsbad, CA--$7,500
Davids Harp FoundationCarlsbad, CA--$7,500

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
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
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
No
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 A, Line 2

“As the Foundation supports and shares board members with NAMM, a tax-exempt organization with an exempt mission of strengthening the music products industry and promoting the pleasure and benefit of making music. The Foundations board of directors is comprised of individuals associated with the music products industry. As the Foundation's board of directors are associated with the music products industry, officers and directors may do business transactions with each other in the normal course of business. These are normal transactions that may occur between a supplier and a customer. An example of this is a retailer buying musical instruments from a manufacturer of musical instruments. The retailer buys musical instruments from many manufacturers. A board member may be a retailer and another board member may be a manufacturer.”

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

“Reviewed by the Board of Directors or Executive committee. A copy of the 990 is sent to the Board and Executive Committee via NAMM's website prior to submission to the IRS.”

Form 990, Part VI, Section B, Line 12C

“The Organization monitors any potential conflict of interest by circulating a disclosure questionnaire annually to its Board of Directors, officers and key employees. If a conflict is found, it is resolved so that ultimately the conflict is removed.”

Form 990, Part VI, Section B, Line 15A

“The Foundation does not provide direct compensation to any officer or director.”

Form 990, Part VI, Section C, Line 19

“The NAMM Foundation complies with the public inspection requirements of Internal Revenue Code section 6104 by making it's form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, determination letter from the IRS, and the Forms 990 for its three most recently completed tax periods available to the public. However, as section 6104 does not require organizations exempt under 501(c)(3) to disclose their governing documents, conflict of interest policies, or financial statements, the NAMM Foundation does not make such information available for public inspection.”

Filing and Contact Details

Filer

Filer Name
NAMM Foundation
EIN
33-0797657
Phone
7604388001
Address
5790 Armada Drive, Carlsbad, CA 92008

Signing Officer

Name
John Mlynczak
Title
President & CEO
Signed
2024-03-20
Discuss with paid preparer
Yes

Organization Details

Formed
1997
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
0
Employees
0
Volunteers
75

Preparer

Firm
Allan Rosenthal and Associates AC
Address
4766 Park Granada Ste 101, Calabasas, CA 91302
Preparer
Allan Rosenthal
Phone
8185911550
Supplemental Narrative

Additional Explanations

Statement Note 1

“Schedule A, Line 13Name of Supported OrganizationNational Association of Music Merchants, Inc. (An organizationdescribed in Sec. 501(c)(6) that would be a line 12 organization,above, if it were a charitable organization described in Sec.501(c)(3).”

Financial Statement Notes

Part III, Line 1A: If organization elected under SFAS 116 to not report are, historical treasures, O

“In accordance with the practice commonly followed by museums, all items donated to the collection are included in net assets at no value. Contributions for purchase of objects for the collection are reported as non-operating support, the cost of all collection objects purchased, and the proceeds from deaccessions of collection objects are reported as non-operating items in the statement of activities.”

Part X : FIN48 Footnote

“The provisions of Accounting Standards Codification (ASC) 740-10 and related subsections prescribes rules for the recognition, classification and disclosure in financial statements of uncertain tax positions taken or expected to be taken in the Foundations tax return. Management has determined that the Foundation does not have any uncertain tax positions and associated unrecognized benefits that materially impact the financial statements or related disclosures.”

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IRS990/OtherExpensesGrp/Desc3Scholarships
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IRS990/ProgSrvcAccomActy2Grp/Desc0Museum of Making Music - Provide exhibits to the public showing the history of music products and benefits of music making.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0The supported organization is NAMM, a 501(c)(6) trade association. At the time that the NAMM Foundation was originally formed, it was confirmed that NAMM met the public support test for such organization.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1The Foundation's board of directors monitors the support given to NAMM to determine that it meets the purposes of 170(c)(2)(B.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part IV, Section A, Line 3b: Description Of When and How Organization Made The Determination
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1Part IV, Section A, Line 3c: Explain What Controls The Organization Put In Place
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0National Association of Music Merch
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IRS990ScheduleD/CollUsedLoanOrExchProgInd0X
IRS990ScheduleD/CollUsedScholarlyRsrchInd0X
IRS990ScheduleD/DisclosedForCharitablePrpsInd0true
IRS990ScheduleD/DisclosedOrgLegCtrlInd0true
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IRS990ScheduleD/DonorAdvisedFundsGrantsAmt0147897
IRS990ScheduleD/DonorAdvisedFundsHeldCnt010
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IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0In accordance with the practice commonly followed by museums, all items donated to the collection are included in net assets at no value. Contributions for purchase of objects for the collection are reported as non-operating support, the cost of all collection objects purchased, and the proceeds from deaccessions of collection objects are reported as non-operating items in the statement of activities.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The provisions of Accounting Standards Codification (ASC) 740-10 and related subsections prescribes rules for the recognition, classification and disclosure in financial statements of uncertain tax positions taken or expected to be taken in the Foundations tax return. Management has determined that the Foundation does not have any uncertain tax positions and associated unrecognized benefits that materially impact the financial statements or related disclosures.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X : FIN48 Footnote
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt4Check
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0Further Music Mkng
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt1Further Mus Making
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt2Further Mus Making
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt3Further Music Makg
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt4Further Music Makin
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt2France
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt4United Kingdom
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IRS990ScheduleI/RecipientTable/CashGrantAmt1720000
IRS990ScheduleI/RecipientTable/CashGrantAmt1820000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,284,481
Liabilities
$573,391
Net assets
$9,711,090
Revenue
$2,435,164
Expenses
$1,819,160
Net income
$616,004
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$10.9$0.15$10.8$2.49$1.43$1.06
2023Detailed filing. Detailed filing data is available for this year.$10.3$0.57$9.71$2.44$1.82$0.62
2022Detailed filing. Detailed filing data is available for this year.$9.94$0.84$9.10$0.12$2.54$2.42
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.1$0.72$10.4$2.74$2.51$0.24
2020Detailed filing. Detailed filing data is available for this year.$11.0$0.82$10.2$1.27$2.31$1.04
2019Detailed filing. Detailed filing data is available for this year.$12.2$0.99$11.2$3.41$2.92$0.49
2018Detailed filing. Detailed filing data is available for this year.$11.4$0.70$10.7$3.45$2.85$0.60
2017Detailed filing. Detailed filing data is available for this year.$10.7$0.94$9.80$4.53$2.94$1.59
2016Detailed filing. Detailed filing data is available for this year.$8.78$0.58$8.20$3.93$2.63$1.30
2015Detailed filing. Detailed filing data is available for this year.$7.55$0.65$6.90$1.65$2.95$1.30
2014Detailed filing. Detailed filing data is available for this year.$8.78$0.58$8.20$3.67$2.27$1.40
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.39$0.58$6.80$1.75
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.76$0.69$1.06$2.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.62$0.72$0.90$1.72
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.71$0.89$0.82$2.18