Civic Intelligence

Black Fret Sonic Guild

990 • Fiscal year 2021 • EIN 46-0576111

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

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

43rd percentile

0.04x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

29th percentile

0.02x

Higher debt load relative to revenue than 29% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

62nd percentile

20%

Higher net margin than 62% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

66th percentile

$92,000

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 5.3% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

92nd percentile

85%

Faster asset growth than 92% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

73rd percentile

43%

Faster revenue growth than 73% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Up

$793,318

Up $363,857 (+85%) from 2020

Net Assets

Up

$762,250

Up $348,605 (+84%) from 2020

Liabilities

Up

$31,068

Up $15,252 (+96%) from 2020

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin62nd percentile

Revenue

Up

$1,735,350

Up $519,701 (+43%) from 2020

Expenses

Up

$1,386,745

Up $188,285 (+16%) from 2020

Net Income

Up

$348,605

Up $331,416 (+1928%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth92nd 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

2021

Assets$793,318
Liabilities$31,068
Net Assets$762,250
Open 2021 Filing

Operations Trend

Revenue Growth73rd 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

2021

Revenue$1,735,350
Expenses$1,386,745
Net Income$348,605
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$1,735,350
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$429,461$792,318▲ $362,857
Total Assets$429,461$793,318▲ $363,857
Other Assets Total$0$1,000▲ $1,000
Liabilities
Other Liabilities$15,816$31,068▲ $15,252
Total Liabilities$15,816$31,068▲ $15,252
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$413,645$662,250▲ $248,605
Net Assets With Donor Restrictions$0$100,000▲ $100,000
Total Net Assets Fund Balance$413,645$762,250▲ $348,605
Total Liabilities and Net Assets / Fund Balance$429,461$793,318▲ $363,857
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Colin KendrickBoard Chair & PresidentFT$92,000$92,000
Matthew OttBoard Vice-chair & Vice PrFT$92,000$92,000

Board Members and Trustees

NameTitle
Fay WellsBoard Member
Tracie VerlindeBoard Member
Matt McdonnellTreasurer & Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,241,916
Program Service Revenue
$493,434
Investment Income
$0
Other Revenue
$0
All Other Contributions
$777,647
Change in Net Assets
$348,605
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$859,887
Salaries, Compensation, and Employee Benefits$274,858
Grants and Similar Amounts Paid$252,000
Total Fundraising Expense$131,345
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$252,000--$252,000
Current Officers, Directors, Trustees, and Key Employees$64,400$64,400$55,200$184,000
Fees for Services Management$34,830$29,875$21,600$86,305
Other Salaries and Wages$34,167$13,667$20,500$68,334
Fees for Services Accounting-$60,265-$60,265
Fees for Services Other$17,822-$13,183$31,005
Other Expenses$30,000$25,405-$25,405
Payroll Taxes$9,151$6,616$6,757$22,524
All Other Expenses$18,350--$18,350
Advertising$3,272-$14,105$17,377
Travel-$9,312-$9,312
Occupancy-$6,500-$6,500
Insurance-$6,005-$6,005
Total Functional Expenses$1,033,355$222,045$131,345$1,386,745
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Ppp Loan$22,223
Payroll Tax Payable$8,845
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 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
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 ceo, colin kendrick, and chief marketing officer, 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 matt mcdonnell (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 w-2 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
Chairman
Phone
5126569312
Signed
2022-11-15

Organization Details

Principal Officer
Colin Kendrick
Formed
2012
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
20

Preparer

Firm
Erickson Demel & Associates Pllc
Address
7800 N MOPAC SUITE 105, AUSTIN, TX 78759
Preparer
Nazia Mandavia
Phone
5124828682
Raw XML Appendix395 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.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR & PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD VICE-CHAIR & VICE PR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER & SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0776045
IRS990ScheduleA/Total509Grp/TotalAmt05910761
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01735350
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01215648
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01179928
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01003790
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0776045
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05910761
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt022223
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18845
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PPP LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL TAX PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt031068
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0252000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0FINANCIAL GRANT
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0CASH BASIS
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. IN 2021, IN RESPONSE TO THE ONGOING PANDEMIC RESULTING IN THE LOSS OF LIVE PERFORMANCE INCOME TO MUSICIANS, BLACK FRET RETAINED THE "EMERGENCY RESPONSE" CATEGORY ADDED TO THE UNLOCKING METHODS IN 2020.
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 CEO, COLIN KENDRICK, AND CHIEF MARKETING OFFICER, 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 MATT MCDONNELL (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 W-2 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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0429461
IRS990/TotalAssetsEOYAmt0793318
IRS990/TotalAssetsGrp/BOYAmt0429461
IRS990/TotalAssetsGrp/EOYAmt0793318
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01241916
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0131345
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0222045
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01033355
IRS990/TotalFunctionalExpensesGrp/TotalAmt01386745
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt015816
IRS990/TotalLiabilitiesEOYAmt031068
IRS990/TotalLiabilitiesGrp/BOYAmt015816
IRS990/TotalLiabilitiesGrp/EOYAmt031068
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0413645
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0762250
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01033355
IRS990/TotalProgramServiceRevenueAmt0493434
IRS990/TotalReportableCompFromOrgAmt0184000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0493434
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01735350
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0429461
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0793318
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt09312
IRS990/TravelGrp/TotalAmt09312
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 29628
IRS990/USAddress/CityNm0AUSTIN
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd078755
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.BLACKFRET.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0COLIN KENDRICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum05126569312
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-15
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/PreparerFirmGrp/PreparerFirmEIN0871577252
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ERICKSON DEMEL & ASSOCIATES 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/PreparerPersonNm0NAZIA MANDAVIA
ReturnHeader/ReturnTs02022-11-15T14:35:42-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0COLIN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KENDRICK
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$793,318
Liabilities
$31,068
Net assets
$762,250
Revenue
$1,735,350
Expenses
$1,386,745
Net income
$348,605
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