Soundexchange Inc

“Soundexchange does not keep written minutes of all of its committee meetings. In particular, we do not keep minutes of our licensing committee or finance committee meetings due to the sensitivity of matters discussed in those meetings. Our governing documents make clear that minutes are not mandatory. We do keep written minutes of all board meetings.”

“Management will review the 990 prior to filing. A copy of the filed 990 will be provided to the full board of directors.”

“The soundexchange governance manual requires the disclosure of any potential conflicts of interest. In addition, the members of the board of directors and officers of the company complete an annual questionaire that asks if there have been any conflicts of interest in the reporting year.”

“The compensation committee, comprising of members of the board of directors, considers external salary data, scope and complexity of the responsibilities of the position, in determining, and recommending to the full board for approval, the president and ceo's executive compensation. The president and ceo assesses compensation for the officers and other executive team members by utilizing relevant external comparable salary data for like responsibilities at not-for-profit organizations, experience and annual review process.”

“The governing documents are not made available to the public. The conflict-of-interest documents are not made available to the public. A non-gaap version of the financial statements is made available on soundexchange's website.”

“Future of music. It was independently formed in 2003 to build fairer, simpler, and more efficient music industry through technology, data, and advocacy. The only organization designated by the u.s. Government to administer the section 114 sound recording license, soundexchange collects and distributes digital performance royalties on behalf of 749,000 recording artists and sound recording rights owners and growing.”

“As of december 31, 2024, soundexchange had 222 employees.”

“Soundexchange is the premier music tech organization on a mission to power the future of music. Independently formed in 2003, the non-profit develops and implements innovative, efficient, and trusted financial-tech and data management solutions for the global music marketplace, including providing technology and royalty solutions for sound recordings and music publishing, and serving as the critical backbone to today's digital music industry. Through technology, data and advocacy, soundexchange endeavors to make the business of music fairer, simpler, and more efficient. The organization represents approximately 749,000 recording artists and sound recording rights owners including major and independent record labels, for the collection and distribution of royalties for public performance of their work on non-interactive digital radio services. Soundexchange also administers direct non-statutory licensing arrangements between sound recording copyright owners and services performing their sound recordings and collects, and distributes royalties received from foreign collective management organizations on behalf of its members. Soundexchange also advocates for creators' rights, seeking royalty structures that protect the value of music for artists, ensuring they are paid fairly no matter where their music is played. The library of congress has designated soundexchange to administer the statutory licenses for non-interactive digital radio services and 3,000 other digital music services. To date, soundexchange has distributed over $11 billion in royalties, and distributed over $1 billion in 2024, through proprietary music tech solutions that turn data into accurate revenue.”

“Member contribution 2,158,613.”

“Oversight of audit: there have been no changes during the year in the process for oversight of the audit of the financial statements.”