FINANCE

Charity Report - VH1 Save the Music Foundation - give.org

VH1 Save the Music Foundation meets the 20 Standards for Charity Accountability.

  • Year, State Incorporated

    1955, New York

  • Stated Purpose

    "to restore and sustain instrumental music education in America's public schools, and raise awareness about the importance of music as part of each child's complete education."

The Foundation develops strategic partnerships with school districts to build sustainable instrumental music programs by providing grants of brand-new musical instruments to public schools that do not currently have an instrumental music program in place. The organization reports that since its launch in 1997 it has granted $51 million worth of new musical instruments to more than 1,900 public schools in 231 school districts around the country, affecting the lives of 2.3 million children. In 2014, the Foundation reported funding the purchase of 1,272 instruments which resulted in 168,480 minutes of music instruction, and 52 teachers' jobs saved.

Musical education restoration 2,283,077
Total Program Expenses: $2,283,077

  • Chief Executive

    Paul Cothran, Executive Director

  • Compensation*

    Not Provided

  • Chair of the Board

    Chris McCarthy

  • Chair's Profession / Business Affiliation

    President of VH1

  • Board Size

    14

  • Paid Staff Size

    6

Method(s) Used:

Direct mail, special events, television, grant proposals, Internet appeals,

planned giving, cause-related marketing, and combined federal campaign donations. Fund raising costs were 20% of related contributions. (Related contributions, which totaled $3,576,043, are donations received as a result of fund raising activities.)

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on The Foundation's audited financial statements for the fiscal year ended September 30, 2014.

Source of Funds
Contributions and grants 1,676,595
Donated materials and services 1,588,712
Special events, net 287,312
Donated musical instruments 23,424
Royalties 1,153
Total Income $3,577,196
  • Programs: 69%
  • Fundraising: 21%
  • Administrative: 10%
Total Income $3,577,196
Program expenses 2,283,077
Fundraising expenses $715,477
Administrative expenses $335,492
Other expenses $0
Total expenses: $3,334,046
Income in Excess of Expenses 243,150
Beginning Net Assets 73,700
Ending Net Assets 316,850
Total Liabilities 1,073,377
Total Assets 1,390,227

Note: According to the organization's audited financial statements for the year ended September 30, 2014, the Foundation received in-kind donations totaling $1,612,136, including donated materials and services ($1,588,712), and donated musical instruments ($23,424).


Category: Personal Finance

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