Civic Intelligence

Foundation for Independent Music Inc.

EIN 93-4128743 • 501(c)3 • New York, NY

Pub. 78 EligibleNTEE A20

Profile

The foundation for independent music, inc. Is dedicated to fostering the growth, sustainability, and innovation of independent music and businesses through education and initiatives that empower diverse voices and equitable opportunities within the music industry

132 Delancey St FL 2ndNew York, NY 10002

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

91st percentile

0.67x

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

NTEE A • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

64th percentile

0.19x

Higher debt load relative to revenue than 64% of similar nonprofits.

NTEE A • $1M-$5M nonprofits • Source year 2025

Net Margin

58th percentile

9.4%

Higher net margin than 58% of similar nonprofits.

NTEE A • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

NTEE A • $1M-$5M nonprofits • Source year 2025

Asset Growth

100th percentile

6116%

Faster asset growth than 100% of similar nonprofits.

NTEE A • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$310,822

Up $305,822 (+6116%) from 2024

Liabilities

Up

$209,099

Up $204,099 (+4082%) from 2024

Net Assets

Up

$101,723

Up $101,723 from 2024

Operations
Liabilities / Revenue64th percentileNet Margin58th percentile

Revenue

Up

$1,082,004

Up $1,082,004 from 2024

Expenses

Up

$980,281

Up $980,281 from 2024

Net Income

Up

$101,723

Up $101,723 from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth100th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400K$300K$200K$100K$0Assets 2024: $5,000Liabilities 2024: $5,000Net Assets 2024: $02024Assets 2025: $310,822Liabilities 2025: $209,099Net Assets 2025: $101,7232025

Highlighted filing

2025

Assets$310,822
Liabilities$209,099
Net Assets$101,723
Open 2025 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0Revenue 2024: $0Expenses 2024: $0Net Income 2024: $02024Revenue 2025: $1,082,004Expenses 2025: $980,281Net Income 2025: $101,7232025

Highlighted filing

2025

Revenue$1,082,004
Expenses$980,281
Net Income$101,723
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$310,822
Liabilities
$209,099
Net assets
$101,723
Revenue
$1,082,004
Expenses
$980,281
Net income
$101,723
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.31$0.21$0.10$1.08$0.98$0.10
2024Detailed filing. Detailed filing data is available for this year.$0.01$0.01$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Dec 9, 2025
Return Version
2024v5.2
Gross Receipts
$1,082,004
Mission and Program Overview

Mission

The foundation for independent music, inc. Is dedicated to fostering the growth, sustainability, and innovation of independent music and businesses through education and initiatives that empower diverse voices and equitable opportunities within the music industry

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$5,000$264,200▲ $259,200
Rtn Earn Endowment Incm Other Fnds$0$101,723▲ $101,723
Accounts Receivable-$46,622-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$5,000$310,822▲ $305,822
Liabilities
Unsecured Notes Loans Payable$5,000$168,202▲ $163,202
Accounts Payable and Accrued Expenses-$40,897-
Total Liabilities$5,000$209,099▲ $204,099
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$101,723▲ $101,723
Total Liabilities and Net Assets / Fund Balance$5,000$310,822▲ $305,822
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Steven HillBoard Chairperson
Dr Richard James BurgessPresident & CEO
Glen BarrosAdvisory Board
Jana HertzenAdvisory Board
Jason PetersonAdvisory Board
Kristin EpsteinAdvisory Board
Dee DiazBoard Member
Hays RudolphBoard Member
Louis PosenBoard Member
Mary JureyBoard Member
Terry McbrideBoard Member
Tony KiewelBoard Member
Wilson FullerBoard Member
Zena WhiteBoard Member
Nabil AyersBoard Secretary
Tony AlexanderBoard Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,082,004
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,082,004
Change in Net Assets
$101,723
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$980,281
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$965,217--$965,217
Fees for Services Legal-$10,996-$10,996
Other Expenses-$512-$512
Total Functional Expenses$965,217$15,064$0$980,281
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
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The foundation for independent music inc. Does not have stockholders, but it is governed by a 12-member board of directors elected annually on staggered three-year terms by the foundation for independent music inc. Members.”

Form 990, Part VI, Section A, Line 7A

“Yes, the organization had members or other persons who had the power to elect or appoint one or more members of the governing body.”

Form 990, Part VI, Section A, Line 8B

“The foundation for independent music, inc. Has board meetings that are documented which then get approved by the committee.”

Form 990, Part VI, Section B, Line 11B

“The foundation for independent music, inc. Management sends the form 990 to the finance committee and the full board prior to filing. A copy of the filed 990 will be provided to the full board.”

Form 990, Part VI, Section C, Line 19

“All governing, conflict of interest policy, financial statements and the form 990 are available to all members by appointment at the foundation for independent music, inc. Office located at 132 delancy street, 2nd floor, new york, ny 10002.”

Filing and Contact Details

Filer

Filer Name
Foundation for Independent Music Inc
EIN
93-4128743
Phone
2132226765
Address
132 DELANCEY ST FL 2ND, NEW YORK, NY 10002

Signing Officer

Name
Dr Richard James Burgess
Title
President and CEO
Phone
2132226765
Signed
2025-12-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Richard James Burgess
Formed
2023
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
0

Preparer

Firm
ROMANO & ASSOCIATES CPA'S PC
Address
228 PARK AVE S 94676, NEW YORK, NY 10003-1502
Preparer
Joseph Romano
Phone
2123813111
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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION FOR INDEPENDENT MUSIC INC. DOES NOT HAVE STOCKHOLDERS, BUT IT IS GOVERNED BY A 12-MEMBER BOARD OF DIRECTORS ELECTED ANNUALLY ON STAGGERED THREE-YEAR TERMS BY THE FOUNDATION FOR INDEPENDENT MUSIC INC. MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1YES, THE ORGANIZATION HAD MEMBERS OR OTHER PERSONS WHO HAD THE POWER TO ELECT OR APPOINT ONE OR MORE MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FOUNDATION FOR INDEPENDENT MUSIC, INC. HAS BOARD MEETINGS THAT ARE DOCUMENTED WHICH THEN GET APPROVED BY THE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION FOR INDEPENDENT MUSIC, INC. MANAGEMENT SENDS THE FORM 990 TO THE FINANCE COMMITTEE AND THE FULL BOARD PRIOR TO FILING. A COPY OF THE FILED 990 WILL BE PROVIDED TO THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL GOVERNING, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND THE FORM 990 ARE AVAILABLE TO ALL MEMBERS BY APPOINTMENT AT THE FOUNDATION FOR INDEPENDENT MUSIC, INC. OFFICE LOCATED AT 132 DELANCY STREET, 2ND FLOOR, NEW YORK, NY 10002.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt05000
IRS990/TotalAssetsEOYAmt0310822
IRS990/TotalAssetsGrp/BOYAmt05000
IRS990/TotalAssetsGrp/EOYAmt0310822
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01082004
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt015064
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0965217
IRS990/TotalFunctionalExpensesGrp/TotalAmt0980281
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05000
IRS990/TotalLiabilitiesEOYAmt0209099
IRS990/TotalLiabilitiesGrp/BOYAmt05000
IRS990/TotalLiabilitiesGrp/EOYAmt0209099
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0101723
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0965217
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01082004
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05000
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0310822
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt05000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0168202
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0132 DELANCEY ST FL 2ND
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010002
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DR RICHARD JAMES BURGESS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT AND CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum02132226765
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-12-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION FOR INDEPENDENT MUSIC INC
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0934128743
ReturnHeader/Filer/PhoneNum02132226765
ReturnHeader/Filer/USAddress/AddressLine1Txt0132 DELANCEY ST FL 2ND
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010002
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0813867787
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROMANO & ASSOCIATES CPA'S PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0228 PARK AVE S 94676
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0100031502
ReturnHeader/PreparerPersonGrp/PhoneNum02123813111
ReturnHeader/PreparerPersonGrp/PreparationDt02025-12-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH ROMANO
ReturnHeader/ReturnTs02025-12-09T12:41:25-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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