Civic Intelligence

Asbury Park Music Foundation Inc

EIN 45-2675974 • 501(c)3 • Asbury Park, NJ

Profile

To preserve and promote asbury park's rich musical heritage: past, present and future, creating a thriving, vibrant city where music lives.

621 Lake Avenue Unit 1CAsbury Park, NJ 07712

www.asburyparkmusiclives.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

51st percentile

0.03x

Higher debt load relative to assets than 51% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Source year 2025

Liabilities / Revenue

43rd percentile

0.02x

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

NTEE A • $500k-$1M nonprofits • Source year 2025

Net Margin

68th percentile

17%

Higher net margin than 68% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Source year 2025

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

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

NTEE A • $500k-$1M nonprofits • Source year 2025

Asset Growth

65th percentile

10%

Faster asset growth than 65% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Annualized from 2024 to 2025

Revenue Growth

13th percentile

-30%

Faster revenue growth than 13% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Annualized from 2024 to 2025

Assets

Up

$322,952

Up $29,681 (+10%) from 2024

Liabilities

Down

$9,198

Down $67,329 (-88%) from 2024

Net Assets

Up

$313,754

Up $97,010 (+45%) from 2024

Revenue

Down

$581,010

Down $248,917 (-30%) from 2024

Expenses

Down

$484,000

Down $479,828 (-50%) from 2024

Net Income

Up

$97,010

Up $230,911 (+172%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2012: $19,129Liabilities 2012: $02012Assets 2013: $165,095Liabilities 2013: $98,382Net Assets 2013: $66,7132013Assets 2014: $53,494Liabilities 2014: $23Net Assets 2014: $53,4712014Assets 2015: $34,322Liabilities 2015: $3,240Net Assets 2015: $31,0822015Assets 2016: $140,635Liabilities 2016: $3,831Net Assets 2016: $136,8042016Assets 2017: $200,901Liabilities 2017: $3,500Net Assets 2017: $197,4012017Assets 2018: $327,160Liabilities 2018: $35,783Net Assets 2018: $291,3772018Assets 2019: $512,056Liabilities 2019: $23,275Net Assets 2019: $488,7812019Assets 2020: $309,528Liabilities 2020: $21,720Net Assets 2020: $287,8082020Assets 2021: $347,482Liabilities 2021: $46,743Net Assets 2021: $300,7392021Assets 2022: $264,573Liabilities 2022: $11,169Net Assets 2022: $253,4042022Assets 2023: $379,869Liabilities 2023: $29,224Net Assets 2023: $350,6452023Assets 2024: $293,271Liabilities 2024: $76,527Net Assets 2024: $216,7442024Assets 2025: $322,952Liabilities 2025: $9,198Net Assets 2025: $313,7542025

Highlighted filing

2025

Assets$322,952
Liabilities$9,198
Net Assets$313,754

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2012: $64,433Expenses 2012: $45,304Net Income 2012: $19,1292012Revenue 2013: $115,159Expenses 2013: $67,575Net Income 2013: $47,5842013Revenue 2014: $126,254Expenses 2014: $139,496Net Income 2014: -$13,2422014Revenue 2015: $297,273Expenses 2015: $319,662Net Income 2015: -$22,3892015Revenue 2016: $421,078Expenses 2016: $315,356Net Income 2016: $105,7222016Revenue 2017: $372,415Expenses 2017: $311,818Net Income 2017: $60,5972017Revenue 2018: $485,709Expenses 2018: $391,733Net Income 2018: $93,9762018Revenue 2019: $781,150Expenses 2019: $583,746Net Income 2019: $197,4042019Revenue 2020: $545,318Expenses 2020: $746,291Net Income 2020: -$200,9732020Revenue 2021: $623,150Expenses 2021: $610,219Net Income 2021: $12,9312021Revenue 2022: $603,463Expenses 2022: $650,798Net Income 2022: -$47,3352022Revenue 2023: $1,064,544Expenses 2023: $967,303Net Income 2023: $97,2412023Revenue 2024: $829,927Expenses 2024: $963,828Net Income 2024: -$133,9012024Revenue 2025: $581,010Expenses 2025: $484,000Net Income 2025: $97,0102025

Highlighted filing

2025

Revenue$581,010
Expenses$484,000
Net Income$97,010

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.01$0.31$0.58$0.48$0.10
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.29$0.08$0.22$0.83$0.96$0.13
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.38$0.03$0.35$1.06$0.97$0.10
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.26$0.01$0.25$0.60$0.65$0.05
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.05$0.30$0.62$0.61$0.01
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.31$0.02$0.29$0.55$0.75$0.20
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.51$0.02$0.49$0.78$0.58$0.20
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.04$0.29$0.49$0.39$0.09
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.20$0.00$0.20$0.37$0.31$0.06
2016Detailed filing. Detailed filing data is available for this year.$0.14$0.00$0.14$0.42$0.32$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$0.30$0.32$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.05$0.00$0.05$0.13$0.14$0.01
2013Summary only. Only limited summary data is available for this year.$0.17$0.10$0.07$0.12$0.07$0.05
2012Summary only. Only limited summary data is available for this year.$0.02$0.00$0.06$0.05$0.02
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Dec 22, 2025
Return Version
2024v5.0
Gross Receipts
$590,780
Mission and Program Overview

Mission

To provide life-changing music education to engage under-served youth and run events to improve the economic well-being of the residents and unite a diverse community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$2,255$142,080▲ $139,825
Savings and Temporary Cash Investments$73,088$97,422▲ $24,334
Cash and Non-Interest-Bearing Accounts$207,576$77,037▼ $130,539
Inventories for Sale or Use$7,067$4,749▼ $2,318
Prepaid Expenses and Deferred Charges$2,015$1,664▼ $351
Land, Buildings, and Equipment, Net$1,270--
Total Assets$293,271$322,952▲ $29,681
Liabilities
Other Liabilities$65,209--
Accounts Payable and Accrued Expenses$11,318$9,198▼ $2,120
Total Liabilities$76,527$9,198▼ $67,329
Net Assets / Fund Balance
Net Assets With Donor Restrictions$197,000$216,267▲ $19,267
Net Assets Without Donor Restrictions$19,744$97,487▲ $77,743
Total Net Assets Fund Balance$216,744$313,754▲ $97,010
Total Liabilities and Net Assets / Fund Balance$293,271$322,952▲ $29,681

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$62,630$62,630
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$541,330
Program Service Revenue
$38,991
Investment Income
$689
Other Revenue
$0
All Other Contributions
$541,330
Change in Net Assets
$97,010
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$439,347
Total Fundraising Expense$55,133
Salaries, Compensation, and Employee Benefits$44,653
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$11,701$10,238$38,455$60,394
Other Salaries and Wages$5,803$32,206$1,909$39,918
Fees for Services Accounting-$22,042-$22,042
Occupancy-$6,465-$6,465
Information Technology-$4,948$1,508$6,456
Payroll Taxes$724$2,011$1,077$3,812
Advertising--$3,450$3,450
Insurance-$2,409-$2,409
Depreciation Depletion$1,269--$1,269
Office Expenses-$287$969$1,256
Other Employee Benefits-$923-$923
Other Expenses$309$465$3,834$774
Total Functional Expenses$346,873$81,994$55,133$484,000
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Lakehouse Music LLCOwned by Bd MbrMusic EducationNo$268,210
Asbury Music Center LLCOwned by Bd MbrRent ExpenseNo$4,200
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Form 990 is distributed to the board for review and approval

Form 990, Page 6, Part VI, Line 12C

Conflicts must be disclosed to the board

Form 990, Page 6, Part VI, Line 19

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Asbury Park Music Foundation Inc
EIN
45-2675974
Phone
7327758900
Address
621 LAKE AVENUE UNIT 1C, ASBURY PARK, NJ 07712

Signing Officer

Name
James Lenskold
Title
Chairman
Phone
7327758900
Signed
2025-12-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Lenskold
Formed
2011
Legal Domicile
Nj
Voting Board Members
8
Independent Board Members
8
Employees
4
Volunteers
30

Preparer

Firm
Roger K Stein CPA LLC
Address
2300 STATE ROUTE 66 STE 202, NEPTUNE, NJ 07753-4069
Preparer
Roger K Stein CPA
Phone
7328691170
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other fees 11,701 10,238 38,455

Financial Statement Notes

Schedule D, Page 3, Part X

The organization evaluates its uncertain tax positions and accordingly, a loss contingency is recognized when it is probable that a liability has been incurred as of the date of the financial statements and the amount of the loss can be reasonably estimated. The amount recognized is subject to estimate and management judgment with respect to the likely outcome of each uncertain tax position. The amount that is ultimately sustained for an individual uncertain tax position or for all uncertain tax positions in the aggregate could differ from the amount recognized. As of june 30, 2025, the organization recognized no liability on uncertain tax positions.

Raw XML Appendix390 raw XML fields

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 ORGANIZATION EVALUATES ITS UNCERTAIN TAX POSITIONS AND ACCORDINGLY, A LOSS CONTINGENCY IS RECOGNIZED WHEN IT IS PROBABLE THAT A LIABILITY HAS BEEN INCURRED AS OF THE DATE OF THE FINANCIAL STATEMENTS AND THE AMOUNT OF THE LOSS CAN BE REASONABLY ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATE AND MANAGEMENT JUDGMENT WITH RESPECT TO THE LIKELY OUTCOME OF EACH UNCERTAIN TAX POSITION. THE AMOUNT THAT IS ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION OR FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE COULD DIFFER FROM THE AMOUNT RECOGNIZED. AS OF JUNE 30, 2025, THE ORGANIZATION RECOGNIZED NO LIABILITY ON UNCERTAIN TAX POSITIONS.
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1LAKEHOUSE MUSIC LLC
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS DISTRIBUTED TO THE BOARD FOR REVIEW AND APPROVAL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONFLICTS MUST BE DISCLOSED TO THE BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER FEES 11,701 10,238 38,455
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES LENSKOLD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum07327758900
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-12-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ASBURY PARK MUSIC FOUNDATION INC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02300 STATE ROUTE 66 STE 202
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEPTUNE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
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ReturnHeader/PreparerPersonGrp/PhoneNum07328691170
ReturnHeader/PreparerPersonGrp/PreparationDt02025-12-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROGER K STEIN CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-12-22T09:12:34-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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