Civic Intelligence

Fox Valley Music Foundation

990 • Fiscal year 2021 • EIN 47-1159879

Jan 01, 2021 to Dec 31, 2021 • Filed on May 10, 2022

21 S Broadway AveAurora, IL 60505

(331) 212-8490

Siviq Scores

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

Liabilities / Assets

90th percentile

0.56x

Higher debt load relative to assets than 90% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

91st percentile

0.54x

Higher debt load relative to revenue than 91% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

22nd percentile

-13%

Higher net margin than 22% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

95th percentile

$62,500

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 16.7% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

18th percentile

-21%

Faster asset growth than 18% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

72nd percentile

41%

Faster revenue growth than 72% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Down

$363,431

Down $97,607 (-21%) from 2020

Net Assets

Down

$160,737

Down $48,986 (-23%) from 2020

Liabilities

Down

$202,694

Down $48,621 (-19%) from 2020

Revenue

Up

$374,197

Up $108,743 (+41%) from 2020

Expenses

Up

$423,183

Up $134,490 (+47%) from 2020

Net Income

Down

-$48,986

Down $25,747 (-111%) from 2020

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2018: $235,569Liabilities 2018: $23,3352018Assets 2019: $338,707Liabilities 2019: $105,745Net Assets 2019: $232,9622019Assets 2020: $461,038Liabilities 2020: $251,315Net Assets 2020: $209,7232020Assets 2021: $363,431Liabilities 2021: $202,694Net Assets 2021: $160,7372021Assets 2022: $466,916Liabilities 2022: $378,404Net Assets 2022: $88,5122022Assets 2023: $397,252Liabilities 2023: $351,571Net Assets 2023: $45,6812023Assets 2024: $372,746Liabilities 2024: $345,424Net Assets 2024: $27,3222024

Highlighted filing

2021

Assets$363,431
Liabilities$202,694
Net Assets$160,737

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2018: $199,257Expenses 2018: $43,652Net Income 2018: $155,6052018Revenue 2019: $316,375Expenses 2019: $295,647Net Income 2019: $20,7282019Revenue 2020: $265,454Expenses 2020: $288,693Net Income 2020: -$23,2392020Revenue 2021: $374,197Expenses 2021: $423,183Net Income 2021: -$48,9862021Revenue 2022: $484,430Expenses 2022: $556,655Net Income 2022: -$72,2252022Revenue 2023: $599,453Expenses 2023: $642,284Net Income 2023: -$42,8312023Revenue 2024: $775,926Expenses 2024: $794,285Net Income 2024: -$18,3592024

Highlighted filing

2021

Revenue$374,197
Expenses$423,183
Net Income-$48,986
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 10, 2022
Return Version
2021v4.0
Gross Receipts
$376,397
Mission and Program Overview

Mission

The foundation's goal is to preserve, protect, promote the music of the fox valley (illinois) area. This is accomplished by providing educational opportunities through their website, free lectures, music documentaries, livestream and performace events. Events are held in the venue operated by the music foundation, and in the adjacent mundy park in furtherance of its broader non-profit goals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$289,712$273,560▼ $16,152
Cash and Non-Interest-Bearing Accounts$166,957$84,524▼ $82,433
Loans From Officers Directors$49,437$25,192▼ $24,245
Inventories for Sale or Use$2,369$2,651▲ $282
Accounts Receivable-$696-
Total Assets$461,038$363,431▼ $97,607
Other Assets Total$2,000$2,000→ $0
Liabilities
Unsecured Notes Loans Payable$198,200$170,281▼ $27,919
Accounts Payable and Accrued Expenses-$4,352-
Other Liabilities$3,678$2,869▼ $809
Total Liabilities$251,315$202,694▼ $48,621
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$209,723$160,737▼ $48,986
Total Net Assets Fund Balance$209,723$160,737▼ $48,986
Total Liabilities and Net Assets / Fund Balance$461,038$363,431▼ $97,607

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$226,725$15,529$242,254
Equipment$42,739$99,216$141,955
Other Land Buildings$4,096$7,142$11,238
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Melissa MercadoExecutive DiFT$62,500$62,500

Board Members and Trustees

NameTitle
David Sean GlynnPresident
Bill HullDirector
Jeannie NorrisDirector
Jim GibbonsDirector
Karen ChristensenSecretary
Bill WietTreasurer
Gina MogaVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$157,368
Program Service Revenue
$205,361
Investment Income
$0
Other Revenue
$11,468
All Other Contributions
$52,280
Change in Net Assets
$-48,986

Audited Revenue Reconciliation

Revenue per Audited Statements
$374,197
Total Revenue per Audited Statements
$374,197
Total Revenue per Form 990
$374,197
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$275,937
Salaries, Compensation, and Employee Benefits$147,246
Total Fundraising Expense$43,687
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$139,198$3,093$12,373$154,664
Other Salaries and Wages$53,740$17,010$3,523$74,273
Current Officers, Directors, Trustees, and Key Employees$18,750$28,125$15,625$62,500
Depreciation Depletion$28,413$3,157-$31,570
Office Expenses$17,621$4,307$2,198$24,126
Payroll Taxes$5,551$3,456$1,466$10,473
Interest-$9,609-$9,609
Advertising--$6,699$6,699
Insurance$3,273$1,549-$4,822
Occupancy$952$952-$1,904
Other Expenses$1,182$460$1,803$1,642
Total Functional Expenses$297,440$82,056$43,687$423,183

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$423,183
Total Expenses per Audited Statements$423,183
Total Expenses per Form 990$423,183
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$2,750
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
Loans from Officers, Directors, Trustees, and Key Employees$49,437$25,192▼ $24,245
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Outstanding Gift Cards$2,869
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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, Page 6, Part VI, Line 11B

The 990 filing is reviewed by the executive board, then passed along to the full board for approval before filing.

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

The conflict of interest policy is reviewed annually. It is consistently monitored and enforced through incluseion as an agenda item at the monthly meeting of the board of directors.

Form 990, Page 6, Part VI, Line 15A

Compensation for the executive director was researched by the board of directors. The board went into executive session where a determination was made and recommended for vote by the full board.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy and financial statements are available by request. The annual reports and attorney general's filings are available to the public and can be found on the fox valley music foundation's website.

Filing and Contact Details

Filer

Filer Name
Fox Valley Music Foundation
EIN
47-1159879
Phone
3312128490
Address
21 S BROADWAY AVE, AURORA, IL 60505

Signing Officer

Name
David Sean Glynn
Title
President
Phone
3312128490
Signed
2022-05-10

Organization Details

Principal Officer
David Sean Glynn
Formed
2014
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
5
Volunteers
40

Preparer

Firm
Kopczyk Osher & Scott CPA Services
Address
4415 HARRISON ST STE 552, HILLSIDE, IL 60162-1911
Preparer
Rodney C Scott
Phone
3125270111
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The foundation's goal is to preserve, protect, promote the music of the fox valley (illinois) area. This is accomplished by providing educational opportunities through their website, free lectures, music documentaries, livestream and performace events. Events are held in the venue operated by the music foundation, and in the adjacent mundy park in furtherance of its broader non-profit goals.

Form 990, Page 2, Part III, Line 4B

Livestream concert series due to the covid 19 pandemic the venue was forced to close its doors for live music performances. As a result, with the help of a team of audio visual and sound engineer volunteers, the music foundation was able to create a professional, quality 3-camera shoot and livestream high quality music performances while shuttered. Numerous local bands and solo artists performed and were streamed live from the venue stage on monday evenings from april through july 2020. Performances were streamed to facebook and youtube. Donations were collected through paypal and split with the performers. This series allowed dozens out of work musicians to receive a portion of the donations that were made by viewers. The livestream took a hiatus for several weeks during the summer and resumed when illinois gov. Pritzker mandated tier 3 mitigation measures. The venue resumed its livestream broadcasts in late fall, increasing its performances to twice a week on sunday and wednesday evenings through the end of 2020 and beyond. In addition to sharing the online donations, the music foundation made recordings of all of the livestreams and made them available to the musicians for promotional use at no charge.

Form 990, Page 2, Part III, Line 4C

The venue for venues livestream series as a result of the covid-19 pandemic, many independent venues were forced to close forever. The fox valley music foundation developed a monthly livestream series the venue for venues. The series began as a way to raise awareness of the plight of iconic music stages in fox valley, chicago area and beyond. Each installment has featured a symposium of live music, a history and a brief look at hos covid has affected each one. It showcases how each venue has adapted and changed course over the past year. The venue has sought to tell these stories, including their own and how they have managed to survive and advocate for musicians despite the pandemic and temporary closure. Fans gain insight into where we have been and where we are going as host scott tipping chats with staff, key volunteers and performers. The series takes place on the 4th sunday of each month at 7pm. Donations are collected via paypal and 100% of donations are given to the featured venue.

Form 990, Page 2, Part III, Line 4D

The fox valley music foundation's purpose is to preserve, promote, present and educate. Their sphere of influence is the fox river valley area of illinois. This year in particular through the use of livestream programming, we have continued to present, and at the same time preserve a video record of all performances that can be used for promotion, not only by the foundation, but also by the artists themselves. This archival footage is particularly important from a preservation standpoint as it will document events during a world-wide pandemic and will be available for future research and education. The fvmf has continued to promote and advocate for musicians and other independent venues during this unprecedented disaster, and will continue to do so. Not only are we helping musicians monetarily, but we are also helping to create awareness, and provide needed respite for myriad music lovers who have been sheltering in place. With the advent of our livestream programming which is both entertaining and informative, we have collaborated with local, regional, national and international artists and have increased our audience. When the world is able to return to the new normal, fvmf will be ready to reopen with a more diverse offering of both music and programming. We will continue to advise and provide opportunities for aspiring musicians to present their music, learn their craft and share their music with others. We will contineue to host and promote songwriter workshops and performance programs. We will continue to assist local musicians in thedevelopment of sound archival and intellectual property management of their music through advice, counsel and education. The fvmf board and volunteer group is comprised of individuals with legal expertise and knowledge and who have experience in the business of music. The venue has become a true community gathering place where both musicians and patrons can gather with a common purpose. The community involvement and our hardworking corps of volunteers has been a catalyst and economic driver for our downtown. The volunteers have a sense of pride in what they do, and continue to contribute their time and talent to ensure that the fvmf and the venue will go on despite the pandemic.

Form 990, Part IX, Line 11G

Prefomance fees and sound 137,377 3,093 12,373 1,821 0 0 total 139,198 3,093 12,373

Financial Statement Notes

Schedule D, Page 3, Part X

Fox valley music foundation is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code. The foundation has also been classified as an entity that is not a private foundation within the meaning of section 509(a) and qualifies for deductible contributions as provided in section 170(b)(1)(a)(vi). There was no unrelated business income nor unrecognized tax benefits for the year ended december 31, 2021. Each of the organization's prior three years remains subject to examination by the internal revenue service. The organization has evaluated its tax positions for all open tax years. Based on the evaluation of the organization 's tax positions, management believes all tax positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year ended december 31, 2021.

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IRS990/MissionDesc0THE FOUNDATION'S GOAL IS TO PRESERVE, PROTECT, PROMOTE THE MUSIC OF THE FOX VALLEY (ILLINOIS) AREA. THIS IS ACCOMPLISHED BY PROVIDING EDUCATIONAL OPPORTUNITIES THROUGH THEIR WEBSITE, FREE LECTURES, MUSIC DOCUMENTARIES, LIVESTREAM AND PERFORMACE EVENTS. EVENTS ARE HELD IN THE VENUE OPERATED BY THE MUSIC FOUNDATION, AND IN THE ADJACENT MUNDY PARK IN FURTHERANCE OF ITS BROADER NON-PROFIT GOALS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0LIVESTREAM CONCERT SERIES DUE TO THE COVID 19 PANDEMIC THE VENUE WAS FORCED TO CLOSE ITS DOORS FOR LIVE MUSIC PERFORMANCES. AS A RESULT, WITH THE HELP OF A TEAM OF AUDIO VISUAL AND SOUND ENGINEER VOLUNTEERS, THE MUSIC FOUNDATION WAS ABLE TO CREATE A PROFESSIONAL, QUALITY 3-CAMERA SHOOT AND LIVESTREAM HIGH QUALITY MUSIC PERFORMANCES WHILE SHUTTERED. NUMEROUS LOCAL BANDS AND SOLO ARTISTS PERFORMED AND WERE STREAMED LIVE FROM THE VENUE STAGE ON MONDAY EVENINGS FROM APRIL THROUGH JULY 2020. PERFORMANCES WERE STREAMED TO FACEBOOK AND YOUTUBE. DONATIONS WERE COLLECTED THROUGH PAYPAL AND SPLIT WITH THE PERFORMERS. THIS SERIES ALLOWED DOZENS OUT OF WORK MUSICIANS TO RECEIVE A PORTION OF THE DONATIONS THAT WERE MADE BY VIEWERS. THE LIVESTREAM TOOK A HIATUS FOR SEVERAL WEEKS DURING THE SUMMER AND RESUMED WHEN ILLINOIS GOV. PRITZKER MANDATED TIER 3 MITIGATION MEASURES. THE VENUE RESUMED ITS LIVESTREAM BROADCASTS IN LATE FALL, INCREASING ITS PERFORMANCES TO TWICE A WEEK ON SUNDAY AND WEDNESDAY EVENINGS THROUGH THE END OF 2020 AND BEYOND. IN ADDITION TO SHARING THE ONLINE DONATIONS, THE MUSIC FOUNDATION MADE RECORDINGS OF ALL OF THE LIVESTREAMS AND MADE THEM AVAILABLE TO THE MUSICIANS FOR PROMOTIONAL USE AT NO CHARGE.
IRS990/ProgSrvcAccomActy3Grp/Desc0THE VENUE FOR VENUES LIVESTREAM SERIES AS A RESULT OF THE COVID-19 PANDEMIC, MANY INDEPENDENT VENUES WERE FORCED TO CLOSE FOREVER. THE FOX VALLEY MUSIC FOUNDATION DEVELOPED A MONTHLY LIVESTREAM SERIES THE VENUE FOR VENUES. THE SERIES BEGAN AS A WAY TO RAISE AWARENESS OF THE PLIGHT OF ICONIC MUSIC STAGES IN FOX VALLEY, CHICAGO AREA AND BEYOND. EACH INSTALLMENT HAS FEATURED A SYMPOSIUM OF LIVE MUSIC, A HISTORY AND A BRIEF LOOK AT HOS COVID HAS AFFECTED EACH ONE. IT SHOWCASES HOW EACH VENUE HAS ADAPTED AND CHANGED COURSE OVER THE PAST YEAR. THE VENUE HAS SOUGHT TO TELL THESE STORIES, INCLUDING THEIR OWN AND HOW THEY HAVE MANAGED TO SURVIVE AND ADVOCATE FOR MUSICIANS DESPITE THE PANDEMIC AND TEMPORARY CLOSURE. FANS GAIN INSIGHT INTO WHERE WE HAVE BEEN AND WHERE WE ARE GOING AS HOST SCOTT TIPPING CHATS WITH STAFF, KEY VOLUNTEERS AND PERFORMERS. THE SERIES TAKES PLACE ON THE 4TH SUNDAY OF EACH MONTH AT 7PM. DONATIONS ARE COLLECTED VIA PAYPAL AND 100% OF DONATIONS ARE GIVEN TO THE FEATURED VENUE.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE FOX VALLEY MUSIC FOUNDATION'S PURPOSE IS TO PRESERVE, PROMOTE, PRESENT AND EDUCATE. THEIR SPHERE OF INFLUENCE IS THE FOX RIVER VALLEY AREA OF ILLINOIS. THIS YEAR IN PARTICULAR THROUGH THE USE OF LIVESTREAM PROGRAMMING, WE HAVE CONTINUED TO PRESENT, AND AT THE SAME TIME PRESERVE A VIDEO RECORD OF ALL PERFORMANCES THAT CAN BE USED FOR PROMOTION, NOT ONLY BY THE FOUNDATION, BUT ALSO BY THE ARTISTS THEMSELVES. THIS ARCHIVAL FOOTAGE IS PARTICULARLY IMPORTANT FROM A PRESERVATION STANDPOINT AS IT WILL DOCUMENT EVENTS DURING A WORLD-WIDE PANDEMIC AND WILL BE AVAILABLE FOR FUTURE RESEARCH AND EDUCATION. THE FVMF HAS CONTINUED TO PROMOTE AND ADVOCATE FOR MUSICIANS AND OTHER INDEPENDENT VENUES DURING THIS UNPRECEDENTED DISASTER, AND WILL CONTINUE TO DO SO. NOT ONLY ARE WE HELPING MUSICIANS MONETARILY, BUT WE ARE ALSO HELPING TO CREATE AWARENESS, AND PROVIDE NEEDED RESPITE FOR MYRIAD MUSIC LOVERS WHO HAVE BEEN SHELTERING IN PLACE. WITH THE ADVENT OF OUR LIVESTREAM PROGRAMMING WHICH IS BOTH ENTERTAINING AND INFORMATIVE, WE HAVE COLLABORATED WITH LOCAL, REGIONAL, NATIONAL AND INTERNATIONAL ARTISTS AND HAVE INCREASED OUR AUDIENCE. WHEN THE WORLD IS ABLE TO RETURN TO THE NEW NORMAL, FVMF WILL BE READY TO REOPEN WITH A MORE DIVERSE OFFERING OF BOTH MUSIC AND PROGRAMMING. WE WILL CONTINUE TO ADVISE AND PROVIDE OPPORTUNITIES FOR ASPIRING MUSICIANS TO PRESENT THEIR MUSIC, LEARN THEIR CRAFT AND SHARE THEIR MUSIC WITH OTHERS. WE WILL CONTINEUE TO HOST AND PROMOTE SONGWRITER WORKSHOPS AND PERFORMANCE PROGRAMS. WE WILL CONTINUE TO ASSIST LOCAL MUSICIANS IN THEDEVELOPMENT OF SOUND ARCHIVAL AND INTELLECTUAL PROPERTY MANAGEMENT OF THEIR MUSIC THROUGH ADVICE, COUNSEL AND EDUCATION. THE FVMF BOARD AND VOLUNTEER GROUP IS COMPRISED OF INDIVIDUALS WITH LEGAL EXPERTISE AND KNOWLEDGE AND WHO HAVE EXPERIENCE IN THE BUSINESS OF MUSIC. THE VENUE HAS BECOME A TRUE COMMUNITY GATHERING PLACE WHERE BOTH MUSICIANS AND PATRONS CAN GATHER WITH A COMMON PURPOSE. THE COMMUNITY INVOLVEMENT AND OUR HARDWORKING CORPS OF VOLUNTEERS HAS BEEN A CATALYST AND ECONOMIC DRIVER FOR OUR DOWNTOWN. THE VOLUNTEERS HAVE A SENSE OF PRIDE IN WHAT THEY DO, AND CONTINUE TO CONTRIBUTE THEIR TIME AND TALENT TO ENSURE THAT THE FVMF AND THE VENUE WILL GO ON DESPITE THE PANDEMIC.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FOX VALLEY MUSIC FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). THERE WAS NO UNRELATED BUSINESS INCOME NOR UNRECOGNIZED TAX BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2021. EACH OF THE ORGANIZATION'S PRIOR THREE YEARS REMAINS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE ORGANIZATION HAS EVALUATED ITS TAX POSITIONS FOR ALL OPEN TAX YEARS. BASED ON THE EVALUATION OF THE ORGANIZATION 'S TAX POSITIONS, MANAGEMENT BELIEVES ALL TAX POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEAR ENDED DECEMBER 31, 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION'S GOAL IS TO PRESERVE, PROTECT, PROMOTE THE MUSIC OF THE FOX VALLEY (ILLINOIS) AREA. THIS IS ACCOMPLISHED BY PROVIDING EDUCATIONAL OPPORTUNITIES THROUGH THEIR WEBSITE, FREE LECTURES, MUSIC DOCUMENTARIES, LIVESTREAM AND PERFORMACE EVENTS. EVENTS ARE HELD IN THE VENUE OPERATED BY THE MUSIC FOUNDATION, AND IN THE ADJACENT MUNDY PARK IN FURTHERANCE OF ITS BROADER NON-PROFIT GOALS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LIVESTREAM CONCERT SERIES DUE TO THE COVID 19 PANDEMIC THE VENUE WAS FORCED TO CLOSE ITS DOORS FOR LIVE MUSIC PERFORMANCES. AS A RESULT, WITH THE HELP OF A TEAM OF AUDIO VISUAL AND SOUND ENGINEER VOLUNTEERS, THE MUSIC FOUNDATION WAS ABLE TO CREATE A PROFESSIONAL, QUALITY 3-CAMERA SHOOT AND LIVESTREAM HIGH QUALITY MUSIC PERFORMANCES WHILE SHUTTERED. NUMEROUS LOCAL BANDS AND SOLO ARTISTS PERFORMED AND WERE STREAMED LIVE FROM THE VENUE STAGE ON MONDAY EVENINGS FROM APRIL THROUGH JULY 2020. PERFORMANCES WERE STREAMED TO FACEBOOK AND YOUTUBE. DONATIONS WERE COLLECTED THROUGH PAYPAL AND SPLIT WITH THE PERFORMERS. THIS SERIES ALLOWED DOZENS OUT OF WORK MUSICIANS TO RECEIVE A PORTION OF THE DONATIONS THAT WERE MADE BY VIEWERS. THE LIVESTREAM TOOK A HIATUS FOR SEVERAL WEEKS DURING THE SUMMER AND RESUMED WHEN ILLINOIS GOV. PRITZKER MANDATED TIER 3 MITIGATION MEASURES. THE VENUE RESUMED ITS LIVESTREAM BROADCASTS IN LATE FALL, INCREASING ITS PERFORMANCES TO TWICE A WEEK ON SUNDAY AND WEDNESDAY EVENINGS THROUGH THE END OF 2020 AND BEYOND. IN ADDITION TO SHARING THE ONLINE DONATIONS, THE MUSIC FOUNDATION MADE RECORDINGS OF ALL OF THE LIVESTREAMS AND MADE THEM AVAILABLE TO THE MUSICIANS FOR PROMOTIONAL USE AT NO CHARGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE VENUE FOR VENUES LIVESTREAM SERIES AS A RESULT OF THE COVID-19 PANDEMIC, MANY INDEPENDENT VENUES WERE FORCED TO CLOSE FOREVER. THE FOX VALLEY MUSIC FOUNDATION DEVELOPED A MONTHLY LIVESTREAM SERIES THE VENUE FOR VENUES. THE SERIES BEGAN AS A WAY TO RAISE AWARENESS OF THE PLIGHT OF ICONIC MUSIC STAGES IN FOX VALLEY, CHICAGO AREA AND BEYOND. EACH INSTALLMENT HAS FEATURED A SYMPOSIUM OF LIVE MUSIC, A HISTORY AND A BRIEF LOOK AT HOS COVID HAS AFFECTED EACH ONE. IT SHOWCASES HOW EACH VENUE HAS ADAPTED AND CHANGED COURSE OVER THE PAST YEAR. THE VENUE HAS SOUGHT TO TELL THESE STORIES, INCLUDING THEIR OWN AND HOW THEY HAVE MANAGED TO SURVIVE AND ADVOCATE FOR MUSICIANS DESPITE THE PANDEMIC AND TEMPORARY CLOSURE. FANS GAIN INSIGHT INTO WHERE WE HAVE BEEN AND WHERE WE ARE GOING AS HOST SCOTT TIPPING CHATS WITH STAFF, KEY VOLUNTEERS AND PERFORMERS. THE SERIES TAKES PLACE ON THE 4TH SUNDAY OF EACH MONTH AT 7PM. DONATIONS ARE COLLECTED VIA PAYPAL AND 100% OF DONATIONS ARE GIVEN TO THE FEATURED VENUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOX VALLEY MUSIC FOUNDATION'S PURPOSE IS TO PRESERVE, PROMOTE, PRESENT AND EDUCATE. THEIR SPHERE OF INFLUENCE IS THE FOX RIVER VALLEY AREA OF ILLINOIS. THIS YEAR IN PARTICULAR THROUGH THE USE OF LIVESTREAM PROGRAMMING, WE HAVE CONTINUED TO PRESENT, AND AT THE SAME TIME PRESERVE A VIDEO RECORD OF ALL PERFORMANCES THAT CAN BE USED FOR PROMOTION, NOT ONLY BY THE FOUNDATION, BUT ALSO BY THE ARTISTS THEMSELVES. THIS ARCHIVAL FOOTAGE IS PARTICULARLY IMPORTANT FROM A PRESERVATION STANDPOINT AS IT WILL DOCUMENT EVENTS DURING A WORLD-WIDE PANDEMIC AND WILL BE AVAILABLE FOR FUTURE RESEARCH AND EDUCATION. THE FVMF HAS CONTINUED TO PROMOTE AND ADVOCATE FOR MUSICIANS AND OTHER INDEPENDENT VENUES DURING THIS UNPRECEDENTED DISASTER, AND WILL CONTINUE TO DO SO. NOT ONLY ARE WE HELPING MUSICIANS MONETARILY, BUT WE ARE ALSO HELPING TO CREATE AWARENESS, AND PROVIDE NEEDED RESPITE FOR MYRIAD MUSIC LOVERS WHO HAVE BEEN SHELTERING IN PLACE. WITH THE ADVENT OF OUR LIVESTREAM PROGRAMMING WHICH IS BOTH ENTERTAINING AND INFORMATIVE, WE HAVE COLLABORATED WITH LOCAL, REGIONAL, NATIONAL AND INTERNATIONAL ARTISTS AND HAVE INCREASED OUR AUDIENCE. WHEN THE WORLD IS ABLE TO RETURN TO THE NEW NORMAL, FVMF WILL BE READY TO REOPEN WITH A MORE DIVERSE OFFERING OF BOTH MUSIC AND PROGRAMMING. WE WILL CONTINUE TO ADVISE AND PROVIDE OPPORTUNITIES FOR ASPIRING MUSICIANS TO PRESENT THEIR MUSIC, LEARN THEIR CRAFT AND SHARE THEIR MUSIC WITH OTHERS. WE WILL CONTINEUE TO HOST AND PROMOTE SONGWRITER WORKSHOPS AND PERFORMANCE PROGRAMS. WE WILL CONTINUE TO ASSIST LOCAL MUSICIANS IN THEDEVELOPMENT OF SOUND ARCHIVAL AND INTELLECTUAL PROPERTY MANAGEMENT OF THEIR MUSIC THROUGH ADVICE, COUNSEL AND EDUCATION. THE FVMF BOARD AND VOLUNTEER GROUP IS COMPRISED OF INDIVIDUALS WITH LEGAL EXPERTISE AND KNOWLEDGE AND WHO HAVE EXPERIENCE IN THE BUSINESS OF MUSIC. THE VENUE HAS BECOME A TRUE COMMUNITY GATHERING PLACE WHERE BOTH MUSICIANS AND PATRONS CAN GATHER WITH A COMMON PURPOSE. THE COMMUNITY INVOLVEMENT AND OUR HARDWORKING CORPS OF VOLUNTEERS HAS BEEN A CATALYST AND ECONOMIC DRIVER FOR OUR DOWNTOWN. THE VOLUNTEERS HAVE A SENSE OF PRIDE IN WHAT THEY DO, AND CONTINUE TO CONTRIBUTE THEIR TIME AND TALENT TO ENSURE THAT THE FVMF AND THE VENUE WILL GO ON DESPITE THE PANDEMIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE 990 FILING IS REVIEWED BY THE EXECUTIVE BOARD, THEN PASSED ALONG TO THE FULL BOARD FOR APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY. IT IS CONSISTENTLY MONITORED AND ENFORCED THROUGH INCLUSEION AS AN AGENDA ITEM AT THE MONTHLY MEETING OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COMPENSATION FOR THE EXECUTIVE DIRECTOR WAS RESEARCHED BY THE BOARD OF DIRECTORS. THE BOARD WENT INTO EXECUTIVE SESSION WHERE A DETERMINATION WAS MADE AND RECOMMENDED FOR VOTE BY THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE BY REQUEST. THE ANNUAL REPORTS AND ATTORNEY GENERAL'S FILINGS ARE AVAILABLE TO THE PUBLIC AND CAN BE FOUND ON THE FOX VALLEY MUSIC FOUNDATION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8PREFOMANCE FEES AND SOUND 137,377 3,093 12,373 1,821 0 0 TOTAL 139,198 3,093 12,373
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART IX, LINE 11G
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0214079

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