Civic Intelligence

Fox Valley Music Foundation

990 • Fiscal year 2023 • EIN 47-1159879

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 12, 2024

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

93rd percentile

0.89x

Higher debt load relative to assets than 93% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

88th percentile

0.59x

Higher debt load relative to revenue than 88% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

28th percentile

-7.1%

Higher net margin than 28% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

65th percentile

$42,500

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 7.1% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

14th percentile

-15%

Faster asset growth than 14% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

67th percentile

24%

Faster revenue growth than 67% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Down

$397,252

Down $69,664 (-15%) from 2022

Net Assets

Down

$45,681

Down $42,831 (-48%) from 2022

Liabilities

Down

$351,571

Down $26,833 (-7.1%) from 2022

Revenue

Up

$599,453

Up $115,023 (+24%) from 2022

Expenses

Up

$642,284

Up $85,629 (+15%) from 2022

Net Income

Up

-$42,831

Up $29,394 (+41%) from 2022

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

2023

Assets$397,252
Liabilities$351,571
Net Assets$45,681

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

2023

Revenue$599,453
Expenses$642,284
Net Income-$42,831
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 12, 2024
Return Version
2023v5.0
Gross Receipts
$604,483
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$259,475$243,218▼ $16,257
Savings and Temporary Cash Investments$150,020--
Cash and Non-Interest-Bearing Accounts$50,729$130,825▲ $80,096
Loans From Officers Directors$24,000--
Prepaid Expenses and Deferred Charges-$14,900-
Accounts Receivable$2,054$4,855▲ $2,801
Inventories for Sale or Use$2,638$1,454▼ $1,184
Total Assets$466,916$397,252▼ $69,664
Other Assets Total$2,000$2,000→ $0
Liabilities
Unsecured Notes Loans Payable$345,571$336,332▼ $9,239
Accounts Payable and Accrued Expenses$3,520$8,682▲ $5,162
Other Liabilities$5,313$6,557▲ $1,244
Total Liabilities$378,404$351,571▼ $26,833
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$88,512$40,681▼ $47,831
Net Assets With Donor Restrictions-$5,000-
Total Net Assets Fund Balance$88,512$45,681▼ $42,831
Total Liabilities and Net Assets / Fund Balance$466,916$397,252▼ $69,664

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$72,726$169,527$242,253
Equipment$151,428-$151,428
Other Land Buildings$19,064-$19,064
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Melissa MercadoExecutive DiFT$42,500$42,500

Board Members and Trustees

NameTitle
David Sean GlynnPresident
Bill HullDirector
Chris BaulerDirector
Jeannie NorrisDirector
Ryan AndersonDirector
Tim HopkinsDirector
Karen FoutsExecutive Di
Jim GibbonsSecretary
Bill WietTreasurer
Gina MogaVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$61,832
Program Service Revenue
$519,140
Investment Income
$14
Other Revenue
$18,467
All Other Contributions
$46,082
Change in Net Assets
$-42,831

Audited Revenue Reconciliation

Revenue per Audited Statements
$599,453
Total Revenue per Audited Statements
$599,453
Total Revenue per Form 990
$599,453
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$469,075
Salaries, Compensation, and Employee Benefits$173,209
Total Fundraising Expense$83,019
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$250,466--$250,466
Other Salaries and Wages$35,520$53,281$29,599$118,400
Current Officers, Directors, Trustees, and Key Employees$12,750$19,125$10,625$42,500
Depreciation Depletion$19,515$2,169-$21,684
Advertising--$17,014$17,014
Payroll Taxes$3,692$5,539$3,078$12,309
Interest-$10,055-$10,055
All Other Expenses$9,707--$9,707
Other Expenses$23,759$9,701$22,703$9,701
Occupancy$4,124$4,124-$8,248
Office Expenses$6,271--$6,271
Insurance$5,507--$5,507
Total Functional Expenses$445,035$114,230$83,019$642,284

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$642,284
Total Expenses per Audited Statements$642,284
Total Expenses per Form 990$642,284
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
Loans from Officers, Directors, Trustees, and Key Employees$24,000--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Outstanding Gift Cards$6,557
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
Karen Fouts
Title
Executive Director
Phone
3312128490
Signed
2024-11-12

Organization Details

Principal Officer
David Sean Glynn
Formed
2014
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
8

Preparer

Firm
Rcs Cpas Pllc
Address
4415 HARRISON ST SUITE 552, HILLSIDE, IL 60162
Preparer
Mohammad Sheikh
Phone
7084829488
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 4A

2022 was our first full year of regular season programming since the opening of the venue in june 2019. After 16 months of forced closure and reduced capacity during 2020 and part of 2021 due to the covid pandemic, the venue returned to presenting a full schedule of live music with local, regional and national touring artists on stage from two to five nights a week. Audience attendance increased 250% in 2022, with approximately 15% of the shows selling out. Increased attendance has translated into additional foot traffic and has served as an economic driver for businesses and restaurants in the downtown arts district. In addition to the increased attendance, 2022 saw an increase in the number and types of shows presented, from 132 shows in 2021 to 181 shows in 2022. The venue has become a destination for music lovers of all genres and from all walks of life and has received high praise from touring musicians.

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

Residency programs in 2022 the music foundation, in cooperation with the pete ellman jazz big band nfp, began a weekly residency program, presenting 38 jazz big band concerts that included 45 middle and high school jazz bands as "openers" prior to the professional big band concerts. This program speaks directly to our mission to provide affordable music programming and education to all. This program is a way to get budding musicians into a real-world environment where they can play in front of a live audience as well as parents and classmates. The highly successful series takes place from mid- october thru june and sells out on a regular basis. In addition to the jazz residency, the venue is pleased to have terrapin flyer as a monthly residency. The grateful dead tribute band performs on the second thursday of each month to packed audiences. What is at the core of the residency is the idea that the grateful dead and jerry garcia's music still has plenty of life in it and that the music being so improvisational in nature can and does go to new places in each performance. No two terrapin flyer shows are ever the same and you never know who might show up to jam at a show.

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

In addition to items listed above, fvmf is proud to continue their singer/songwriter programming which provides opportunities for aspiring musicians to present their music, learn their craft and share music with others. The music in mundy outdoor concert series evolved into a summer festival series: june/blues, july/jazz and august/americana. 2022 saw increased collaboration with other non-profit organizations through rentals, assisting in fundraising efforts for their organizations, some of which included united way, the neighbor project, rouse 3.0 and the kane county bar association. The venue has also hosted many workshops and seminars for the city of aurora and fox valley businesses in an effort to increase revenue to cover programming costs. The venue has become a true community gathering place where both musicians, patrons and volunteers can gather with a common purpose. Our hardworking volunteers contribute their time and talents to ensure that the fvmf and the venue will continue to operate successfully in the coming years.

Form 990, Part IX, Line 11G

Perfomance fees and sound 250,466 0 0

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 1?0(b)(1)(a)(vi). There was no unrelated business income nor unrecognized tax benefits for the year ended december 31, 2023. 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, 2023.

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IRS990/Desc02022 WAS OUR FIRST FULL YEAR OF REGULAR SEASON PROGRAMMING SINCE THE OPENING OF THE VENUE IN JUNE 2019. AFTER 16 MONTHS OF FORCED CLOSURE AND REDUCED CAPACITY DURING 2020 AND PART OF 2021 DUE TO THE COVID PANDEMIC, THE VENUE RETURNED TO PRESENTING A FULL SCHEDULE OF LIVE MUSIC WITH LOCAL, REGIONAL AND NATIONAL TOURING ARTISTS ON STAGE FROM TWO TO FIVE NIGHTS A WEEK. AUDIENCE ATTENDANCE INCREASED 250% IN 2022, WITH APPROXIMATELY 15% OF THE SHOWS SELLING OUT. INCREASED ATTENDANCE HAS TRANSLATED INTO ADDITIONAL FOOT TRAFFIC AND HAS SERVED AS AN ECONOMIC DRIVER FOR BUSINESSES AND RESTAURANTS IN THE DOWNTOWN ARTS DISTRICT. IN ADDITION TO THE INCREASED ATTENDANCE, 2022 SAW AN INCREASE IN THE NUMBER AND TYPES OF SHOWS PRESENTED, FROM 132 SHOWS IN 2021 TO 181 SHOWS IN 2022. THE VENUE HAS BECOME A DESTINATION FOR MUSIC LOVERS OF ALL GENRES AND FROM ALL WALKS OF LIFE AND HAS RECEIVED HIGH PRAISE FROM TOURING MUSICIANS.
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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/Desc0RESIDENCY PROGRAMS IN 2022 THE MUSIC FOUNDATION, IN COOPERATION WITH THE PETE ELLMAN JAZZ BIG BAND NFP, BEGAN A WEEKLY RESIDENCY PROGRAM, PRESENTING 38 JAZZ BIG BAND CONCERTS THAT INCLUDED 45 MIDDLE AND HIGH SCHOOL JAZZ BANDS AS "OPENERS" PRIOR TO THE PROFESSIONAL BIG BAND CONCERTS. THIS PROGRAM SPEAKS DIRECTLY TO OUR MISSION TO PROVIDE AFFORDABLE MUSIC PROGRAMMING AND EDUCATION TO ALL. THIS PROGRAM IS A WAY TO GET BUDDING MUSICIANS INTO A REAL-WORLD ENVIRONMENT WHERE THEY CAN PLAY IN FRONT OF A LIVE AUDIENCE AS WELL AS PARENTS AND CLASSMATES. THE HIGHLY SUCCESSFUL SERIES TAKES PLACE FROM MID- OCTOBER THRU JUNE AND SELLS OUT ON A REGULAR BASIS. IN ADDITION TO THE JAZZ RESIDENCY, THE VENUE IS PLEASED TO HAVE TERRAPIN FLYER AS A MONTHLY RESIDENCY. THE GRATEFUL DEAD TRIBUTE BAND PERFORMS ON THE SECOND THURSDAY OF EACH MONTH TO PACKED AUDIENCES. WHAT IS AT THE CORE OF THE RESIDENCY IS THE IDEA THAT THE GRATEFUL DEAD AND JERRY GARCIA'S MUSIC STILL HAS PLENTY OF LIFE IN IT AND THAT THE MUSIC BEING SO IMPROVISATIONAL IN NATURE CAN AND DOES GO TO NEW PLACES IN EACH PERFORMANCE. NO TWO TERRAPIN FLYER SHOWS ARE EVER THE SAME AND YOU NEVER KNOW WHO MIGHT SHOW UP TO JAM AT A SHOW.
IRS990/ProgSrvcAccomActy3Grp/Desc0MUSIC EDUCATION ROCK TALK FREE LECTURE SERIES WITH PROFESSOR MARK PLUMMER THE MUSIC FOUNDATION IN COLLABORATION WITH PROFESSOR MARK PLUMMER OF AURORA UNIVERSITY PRESENTED A 4-PART, FREE LECTURE SERIES CALLED ROCK TALK. THE INFORMATIVE, EDUCATIONAL AND ENTERTAINING SERIES TOOK PLACE ON SUNDAY AFTERNOONS, GIVING PATRONS OF ALL AGES, AN IN DEPTH LOOK AT IMPORTANT, HISTORICAL MUSIC EVENTS, INCLUDING THE MONTEREY INTERNATIONAL POP FESTIVAL, THE RISE AND FALL OF STAX RECORDS, THE ALTAMONT MUSIC FESTIVAL OF 1969 AND THE MAGNUM OPUS. FILLED WITH FACTS, PHOTOS, MUSIC VIDEO CLIPS, INTERVIEWS AND MORE, THE SUCCESSFUL SERIES WILL BE BACK AGAIN NEXT YEAR TO EXPLORE MORE MUSIC HISTORY.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0IN ADDITION TO ITEMS LISTED ABOVE, FVMF IS PROUD TO CONTINUE THEIR SINGER/SONGWRITER PROGRAMMING WHICH PROVIDES OPPORTUNITIES FOR ASPIRING MUSICIANS TO PRESENT THEIR MUSIC, LEARN THEIR CRAFT AND SHARE MUSIC WITH OTHERS. THE MUSIC IN MUNDY OUTDOOR CONCERT SERIES EVOLVED INTO A SUMMER FESTIVAL SERIES: JUNE/BLUES, JULY/JAZZ AND AUGUST/AMERICANA. 2022 SAW INCREASED COLLABORATION WITH OTHER NON-PROFIT ORGANIZATIONS THROUGH RENTALS, ASSISTING IN FUNDRAISING EFFORTS FOR THEIR ORGANIZATIONS, SOME OF WHICH INCLUDED UNITED WAY, THE NEIGHBOR PROJECT, ROUSE 3.0 AND THE KANE COUNTY BAR ASSOCIATION. THE VENUE HAS ALSO HOSTED MANY WORKSHOPS AND SEMINARS FOR THE CITY OF AURORA AND FOX VALLEY BUSINESSES IN AN EFFORT TO INCREASE REVENUE TO COVER PROGRAMMING COSTS. THE VENUE HAS BECOME A TRUE COMMUNITY GATHERING PLACE WHERE BOTH MUSICIANS, PATRONS AND VOLUNTEERS CAN GATHER WITH A COMMON PURPOSE. OUR HARDWORKING VOLUNTEERS CONTRIBUTE THEIR TIME AND TALENTS TO ENSURE THAT THE FVMF AND THE VENUE WILL CONTINUE TO OPERATE SUCCESSFULLY IN THE COMING YEARS.
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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 1?0(B)(1)(A)(VI). THERE WAS NO UNRELATED BUSINESS INCOME NOR UNRECOGNIZED TAX BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2023. 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, 2023.
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/ExplanationTxt12022 WAS OUR FIRST FULL YEAR OF REGULAR SEASON PROGRAMMING SINCE THE OPENING OF THE VENUE IN JUNE 2019. AFTER 16 MONTHS OF FORCED CLOSURE AND REDUCED CAPACITY DURING 2020 AND PART OF 2021 DUE TO THE COVID PANDEMIC, THE VENUE RETURNED TO PRESENTING A FULL SCHEDULE OF LIVE MUSIC WITH LOCAL, REGIONAL AND NATIONAL TOURING ARTISTS ON STAGE FROM TWO TO FIVE NIGHTS A WEEK. AUDIENCE ATTENDANCE INCREASED 250% IN 2022, WITH APPROXIMATELY 15% OF THE SHOWS SELLING OUT. INCREASED ATTENDANCE HAS TRANSLATED INTO ADDITIONAL FOOT TRAFFIC AND HAS SERVED AS AN ECONOMIC DRIVER FOR BUSINESSES AND RESTAURANTS IN THE DOWNTOWN ARTS DISTRICT. IN ADDITION TO THE INCREASED ATTENDANCE, 2022 SAW AN INCREASE IN THE NUMBER AND TYPES OF SHOWS PRESENTED, FROM 132 SHOWS IN 2021 TO 181 SHOWS IN 2022. THE VENUE HAS BECOME A DESTINATION FOR MUSIC LOVERS OF ALL GENRES AND FROM ALL WALKS OF LIFE AND HAS RECEIVED HIGH PRAISE FROM TOURING MUSICIANS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2RESIDENCY PROGRAMS IN 2022 THE MUSIC FOUNDATION, IN COOPERATION WITH THE PETE ELLMAN JAZZ BIG BAND NFP, BEGAN A WEEKLY RESIDENCY PROGRAM, PRESENTING 38 JAZZ BIG BAND CONCERTS THAT INCLUDED 45 MIDDLE AND HIGH SCHOOL JAZZ BANDS AS "OPENERS" PRIOR TO THE PROFESSIONAL BIG BAND CONCERTS. THIS PROGRAM SPEAKS DIRECTLY TO OUR MISSION TO PROVIDE AFFORDABLE MUSIC PROGRAMMING AND EDUCATION TO ALL. THIS PROGRAM IS A WAY TO GET BUDDING MUSICIANS INTO A REAL-WORLD ENVIRONMENT WHERE THEY CAN PLAY IN FRONT OF A LIVE AUDIENCE AS WELL AS PARENTS AND CLASSMATES. THE HIGHLY SUCCESSFUL SERIES TAKES PLACE FROM MID- OCTOBER THRU JUNE AND SELLS OUT ON A REGULAR BASIS. IN ADDITION TO THE JAZZ RESIDENCY, THE VENUE IS PLEASED TO HAVE TERRAPIN FLYER AS A MONTHLY RESIDENCY. THE GRATEFUL DEAD TRIBUTE BAND PERFORMS ON THE SECOND THURSDAY OF EACH MONTH TO PACKED AUDIENCES. WHAT IS AT THE CORE OF THE RESIDENCY IS THE IDEA THAT THE GRATEFUL DEAD AND JERRY GARCIA'S MUSIC STILL HAS PLENTY OF LIFE IN IT AND THAT THE MUSIC BEING SO IMPROVISATIONAL IN NATURE CAN AND DOES GO TO NEW PLACES IN EACH PERFORMANCE. NO TWO TERRAPIN FLYER SHOWS ARE EVER THE SAME AND YOU NEVER KNOW WHO MIGHT SHOW UP TO JAM AT A SHOW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IN ADDITION TO ITEMS LISTED ABOVE, FVMF IS PROUD TO CONTINUE THEIR SINGER/SONGWRITER PROGRAMMING WHICH PROVIDES OPPORTUNITIES FOR ASPIRING MUSICIANS TO PRESENT THEIR MUSIC, LEARN THEIR CRAFT AND SHARE MUSIC WITH OTHERS. THE MUSIC IN MUNDY OUTDOOR CONCERT SERIES EVOLVED INTO A SUMMER FESTIVAL SERIES: JUNE/BLUES, JULY/JAZZ AND AUGUST/AMERICANA. 2022 SAW INCREASED COLLABORATION WITH OTHER NON-PROFIT ORGANIZATIONS THROUGH RENTALS, ASSISTING IN FUNDRAISING EFFORTS FOR THEIR ORGANIZATIONS, SOME OF WHICH INCLUDED UNITED WAY, THE NEIGHBOR PROJECT, ROUSE 3.0 AND THE KANE COUNTY BAR ASSOCIATION. THE VENUE HAS ALSO HOSTED MANY WORKSHOPS AND SEMINARS FOR THE CITY OF AURORA AND FOX VALLEY BUSINESSES IN AN EFFORT TO INCREASE REVENUE TO COVER PROGRAMMING COSTS. THE VENUE HAS BECOME A TRUE COMMUNITY GATHERING PLACE WHERE BOTH MUSICIANS, PATRONS AND VOLUNTEERS CAN GATHER WITH A COMMON PURPOSE. OUR HARDWORKING VOLUNTEERS CONTRIBUTE THEIR TIME AND TALENTS TO ENSURE THAT THE FVMF AND THE VENUE WILL CONTINUE TO OPERATE SUCCESSFULLY IN THE COMING YEARS.
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/ExplanationTxt8PERFOMANCE FEES AND SOUND 250,466 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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