Civic Intelligence

Black Fret Sonic Guild

990 • Fiscal year 2017 • EIN 46-0576111

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

Organization ProfileWWW.BLACKFRET.ORG
PO Box 29628Austin, TX 78755

(512) 656-9312

Siviq Scores

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

Liabilities / Assets

26th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

26th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

42nd percentile

0.7%

Higher net margin than 42% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

54th percentile

$20,000

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

46th percentile

2.0%

Faster asset growth than 46% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

67th percentile

16%

Faster revenue growth than 67% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$252,455

Up $4,884 (+2.0%) from 2016

Net Assets

Up

$252,455

Up $4,884 (+2.0%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin42nd percentile

Revenue

Up

$731,341

Up $99,338 (+16%) from 2016

Expenses

Up

$726,457

Up $191,299 (+36%) from 2016

Net Income

Down

$4,884

Down $91,961 (-95%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

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

$800K$600K$400K$200K$0Assets 2014: $95,977Liabilities 2014: $1,5002014Assets 2015: $150,726Liabilities 2015: $0Net Assets 2015: $150,7262015Assets 2016: $247,571Liabilities 2016: $0Net Assets 2016: $247,5712016Assets 2017: $252,455Liabilities 2017: $0Net Assets 2017: $252,4552017Assets 2018: $291,957Liabilities 2018: $2,364Net Assets 2018: $289,5932018Assets 2019: $396,455Liabilities 2019: $0Net Assets 2019: $396,4552019Assets 2020: $429,461Liabilities 2020: $15,816Net Assets 2020: $413,6452020Assets 2021: $793,318Liabilities 2021: $31,068Net Assets 2021: $762,2502021Assets 2022: $650,764Liabilities 2022: $27,414Net Assets 2022: $623,3502022Assets 2023: $796,958Liabilities 2023: $39,142Net Assets 2023: $757,8162023Assets 2024: $553,119Liabilities 2024: $19,313Net Assets 2024: $533,8062024

Highlighted filing

2017

Assets$252,455
Liabilities$0
Net Assets$252,455
Open 2017 Filing

Operations Trend

Revenue Growth67th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $155,059Expenses 2014: $60,582Net Income 2014: $94,4772014Revenue 2015: $417,796Expenses 2015: $361,547Net Income 2015: $56,2492015Revenue 2016: $632,003Expenses 2016: $535,158Net Income 2016: $96,8452016Revenue 2017: $731,341Expenses 2017: $726,457Net Income 2017: $4,8842017Revenue 2018: $1,003,790Expenses 2018: $966,652Net Income 2018: $37,1382018Revenue 2019: $1,179,928Expenses 2019: $1,073,066Net Income 2019: $106,8622019Revenue 2020: $1,215,649Expenses 2020: $1,198,460Net Income 2020: $17,1892020Revenue 2021: $1,735,350Expenses 2021: $1,386,745Net Income 2021: $348,6052021Revenue 2022: $1,993,547Expenses 2022: $2,032,447Net Income 2022: -$38,9002022Revenue 2023: $2,166,323Expenses 2023: $2,031,857Net Income 2023: $134,4662023Revenue 2024: $1,314,308Expenses 2024: $1,538,318Net Income 2024: -$224,0102024

Highlighted filing

2017

Revenue$731,341
Expenses$726,457
Net Income$4,884
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.2
Gross Receipts
$731,341
Mission and Program Overview

Mission

Our mission is to support the creation and performance of music.

Our mission is to empower musicians to create and perform new music.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$247,571$252,455▲ $4,884
Total Assets$247,571$252,455▲ $4,884
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$247,571$252,455▲ $4,884
Total Net Assets Fund Balance$247,571$252,455▲ $4,884
Total Liabilities and Net Assets / Fund Balance$247,571$252,455▲ $4,884
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Colin KendrickBoard Chair & PresidentPT$20,000$20,000
Matthew OttBoard Vice-chair & Vice PrPT$12,000$12,000

Board Members and Trustees

NameTitle
Kerry EdwardsBoard Treasurer & Secretar
Revenue and Support

Revenue Composition

Contributions and Grants
$544,244
Program Service Revenue
$187,097
Investment Income
$0
Other Revenue
$0
All Other Contributions
$87,304
Change in Net Assets
$4,884
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$462,657
Grants and Similar Amounts Paid$231,800
Salaries, Compensation, and Employee Benefits$32,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$231,800--$231,800
Fees for Services Management$27,000$31,500-$58,500
Current Officers, Directors, Trustees, and Key Employees-$32,000-$32,000
Fees for Services Accounting$6,000$23,000-$29,000
Fees for Services Other$13,500$3,000-$16,500
All Other Expenses$2,514$13,978-$16,492
Other Expenses$12,325--$12,325
Advertising$9,975--$9,975
Insurance$3,143--$3,143
Total Functional Expenses$622,979$103,478$0$726,457
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
Yes
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
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

“Each officer is provided with a copy of the tax return to review before filing.”

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

“Black fret compensates its president, colin kendrick, and vice president, matt ott, for the ongoing daily management of the operations of the organization. These are operational roles and discrete in their nature from those of the board seats of chair and vice-chair filled by these individuals. Compensation was determined by (1) the independent persons of kerry edwards (treasurer) and dennis kubacak (cfo), (2) a review of comparability data as presented in guidestar's "2015 nonprofit compensation report, 15th edition", and (3) contemporaneous substantiation by black fret's submission of form 1099 for each compensated individual. Compensation is approved by the board of directors with the directors receiving compensation being excluded from the vote.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Black Fret
EIN
46-0576111
Phone
5126569312
Address
PO BOX 29628, AUSTIN, TX 78755

Signing Officer

Name
Colin Kendrick
Title
President
Phone
5126569312
Signed
2018-11-15

Organization Details

Principal Officer
Colin Kendrick
Formed
2012
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
62

Preparer

Firm
Erickson Demel & Co Pllc
Address
7800 N MOPAC SUITE 105, AUSTIN, TX 78759
Preparer
Robin C Demel
Phone
5124828682
Raw XML Appendix341 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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IRS990/ProgSrvcAccomActy2Grp/Desc0ARTIST GRANTS: IN 2017, BLACK FRET AWARDED $230,000 IN GRANTS THAT WE WILL PAY OUT DURING THE 2018 CALENDAR YEAR BASED UPON NEW SONGS, PERFORMANCES, AND COMMUNITY SERVICE PROVIDED BY OUR GRANT RECIPIENTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0231800
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IRS990/ProgSrvcAccomActy3Grp/Desc0ARTIST MENTOR PROGRAM: BLACK FRET'S ADVISORY BOARD OF 32 MUSIC INDUSTRY EXPERTS PROVIDED MENTORING TO OUR 76 MUSICIAN NOMINEES THROUGHOUT THE 2017 CALANDAR YEAR.
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0FINANCIAL GRANT
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0BLACK FRET DISTRIBUTES GRANT DOLLARS UPON THE SUBMISSION OF EVIDENCE OF THE COMPLETION OF SPECIFIC DELIVERABLES SUPPORTING OUR CHARITABLE MISSION OF THE CREATION AND PERFORMANCE OF NEW MUSIC AND THE PROVISION OF COMMUNITY SERVICE. THE PROGRAM IS ADMINISTERED BY A GRANT ADMINISTRATOR WHO RECEIPTS AND REVIEWS SUBMITTED DELIVERABLES AND SEEKS APPROVAL FROM TREASURER PRIOR TO DISBURSEMENT OF GRANT FUNDS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EACH OFFICER IS PROVIDED WITH A COPY OF THE TAX RETURN TO REVIEW BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BLACK FRET COMPENSATES ITS PRESIDENT, COLIN KENDRICK, AND VICE PRESIDENT, MATT OTT, FOR THE ONGOING DAILY MANAGEMENT OF THE OPERATIONS OF THE ORGANIZATION. THESE ARE OPERATIONAL ROLES AND DISCRETE IN THEIR NATURE FROM THOSE OF THE BOARD SEATS OF CHAIR AND VICE-CHAIR FILLED BY THESE INDIVIDUALS. COMPENSATION WAS DETERMINED BY (1) THE INDEPENDENT PERSONS OF KERRY EDWARDS (TREASURER) AND DENNIS KUBACAK (CFO), (2) A REVIEW OF COMPARABILITY DATA AS PRESENTED IN GUIDESTAR'S "2015 NONPROFIT COMPENSATION REPORT, 15TH EDITION", AND (3) CONTEMPORANEOUS SUBSTANTIATION BY BLACK FRET'S SUBMISSION OF FORM 1099 FOR EACH COMPENSATED INDIVIDUAL. COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS WITH THE DIRECTORS RECEIVING COMPENSATION BEING EXCLUDED FROM THE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0544244
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0103478
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0622979
IRS990/TotalFunctionalExpensesGrp/TotalAmt0726457
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0247571
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0252455
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0622979
IRS990/TotalProgramServiceRevenueAmt0187097
IRS990/TotalReportableCompFromOrgAmt032000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0187097
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0731341
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt062
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0247571
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0252455
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0247571
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0252455
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 29628
IRS990/USAddress/CityNm0AUSTIN
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd078755
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.BLACKFRET.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0COLIN KENDRICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05126569312
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BLACK FRET
ReturnHeader/Filer/BusinessNameControlTxt0BLAC
ReturnHeader/Filer/EIN0460576111
ReturnHeader/Filer/PhoneNum05126569312
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 29628
ReturnHeader/Filer/USAddress/CityNm0AUSTIN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078755
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId086A62AF12EDECB79A8C8361BBC4C8D81FC6A8DF5
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId086A62AF12EDECB79A8C8361BBC4C8D81FC6A8DF5
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt097.77.193.62
ReturnHeader/FilingSecurityInformation/IPDt02018-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:51:33
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0464064364
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERICKSON DEMEL & CO PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07800 N MOPAC SUITE 105
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AUSTIN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd078759
ReturnHeader/PreparerPersonGrp/PhoneNum05124828682
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBIN C DEMEL
ReturnHeader/ReturnTs02018-11-15T15:54:28-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$252,455
Liabilities
$0
Net assets
$252,455
Revenue
$731,341
Expenses
$726,457
Net income
$4,884
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.55$0.02$0.53$1.31$1.54$0.22
2023Detailed filing. Detailed filing data is available for this year.$0.80$0.04$0.76$2.17$2.03$0.13
2022Detailed filing. Detailed filing data is available for this year.$0.65$0.03$0.62$1.99$2.03$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.79$0.03$0.76$1.74$1.39$0.35
2020Detailed filing. Detailed filing data is available for this year.$0.43$0.02$0.41$1.22$1.20$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.40$0.00$0.40$1.18$1.07$0.11
2018Detailed filing. Detailed filing data is available for this year.$0.29$0.00$0.29$1.00$0.97$0.04
2017Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$0.73$0.73$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$0.63$0.54$0.10
2015Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.15$0.42$0.36$0.06
2014Summary only. Only limited summary data is available for this year.$0.10$0.00$0.16$0.06$0.09