2024-02-14T15:53:08-06:00 2023-09-30 111986323 MARCUM LLP 53 STATE STREET BOSTON MA 02109 990 2022-10-01 043081057 INSPIRE ARTS AND MUSIC INC INSP 6172684600 PO BOX 51391 BOSTON MA 02205 DAVID LAFOND CHAIR OF AUDIT & FINANCE COMMITTEE 6172684600 2024-02-08 1 DAVID LAFOND 999009999 1 DOUGLAS FARRINGTON P00370668 6178075000 2024-02-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DAVID LAFOND PO BOX 51391 BOSTON MA 02205 4576824 0 X WWW.INSPIREARTS.ORG X 1990 MA YOUTH ACTIVITY-MUSIC EDUCATION AND PERFORMANCE OPPORTUNITIES FOR CHILDREN & YOUNG ADULTS AGE 6-21. 42 42 26 41 27378 28869 3339048 2418052 1013460 1463788 1409 -25591 171497 403880 4525414 4260129 0 0 0 0 1230366 1223283 0 0 98092 2858541 3242802 4088907 4466085 436507 -205956 3281905 3284492 1884672 2093215 1397233 1191277 YOUTH ACTIVITY-PROVIDING MUSIC EDUCATION, TRAVEL, AND PERFORMANCE OPPORTUNITIES FOR APPROXIMATELY 10,940 TEENAGERS AND YOUNG ADULTS. 0 0 2921152 410983 DRUM & BUGLE CORPS: THE BOSTON CRUSADERS DRUM & BUGLE CORPS IS THE THIRD-OLDEST JUNIOR DRUM AND BUGLE CORPS IN THE NATION AND IS A FOUNDING MEMBER OF DRUM CORPS INTERNATIONAL. THE CORPS, COMPOSED ENTIRELY OF BRASS PLAYERS, PERCUSSIONISTS AND COLOR GUARD MEMBERS UNDER THE AGE OF 22, TRAVELS OVER 10,000 MILES EACH SUMMER, PERFORMING IN MORE THAN 40 COMPETITIONS AND EXHIBITIONS BEFORE A COMBINED AUDIENCE OF OVER 300,000 FANS. THE BOSTON CRUSADERS' MISSION IS TO PROVIDE ITS MEMBERS AN OPPORTUNITY TO REACH THEIR HIGHEST POTENTIAL--AS BOTH A PERSON AND AN ARTIST. THE BOSTON CRUSADERS PROVIDE A HEALTHY BALANCE BETWEEN EDUCATION AND COMPETITION AND SEEK TO CONSTANTLY CHALLENGE MEMBERS TO THROUGH A DYNAMIC AND UNIQUE COMBINATION OF ARTISTIC ATHLETIC AND LIFE GOALS. 912896 1052805 MUSIC FESTIVALS: GREAT EAST MUSIC FESTIVAL AND FANTASTIC FESTIVALS EXPERIENCE PROVIDES A FORMATIVE EVALUATION FOR PERFORMANCES AS WELL AS A COMPREHENSIVE CLINIC THAT SUPPORTS MIDDLE SCHOOLS MUSIC PROGRAMS EDUCATIONAL GOALS AND OBJECTIVES. THE FESTIVALS ARE NON-COMPETITIVE ELEMENTARY, MIDDLE AND HIGH SCHOOL MUSIC FESTIVALS FOR CONCERT BAND, WIND ENSEMBLES, ORCHESTRA, CONCERT, SELECT AND SHOW CHOIR, JAZZ BAND AND SMALL ENSEMBLES. OUR PROGRAM REACHES MORE THAN 18,000 STUDENTS. 205079 304437 OTHER PROGRAMS: INCLUDES HYDE INNER CITY PERCUSSION LESSONS - A FREE PROGRAM FOR INNER CITY YOUTH OF HYDE PARK, AS WELL AS THE DENNEY CENTER PERCUSSION PROGRAM AT THE DORCHESTER BOYS & GIRLS CLUB AND VARIOUS OTHER PROGRAMS. 4039127 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 144 0 1 26 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 42 42 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X THE ORGANIZATION 6172684600 PO BOX 51391 BOSTON MA 02205 ANIL GUPTA BOARD MEMBER 1.00 X 0 0 0 BRENT MCDONALD BOARD MEMBER 0.50 X 0 0 0 CHARLIE JACCO EXECUTIVE BOARD MEMBER 2.00 X 0 0 0 CHRIS FUCCI BOARD MEMBER 1.00 X 0 0 0 CHRIS MADAIO EXECUTIVE BOARD MEMBER 2.00 X 0 0 0 CHRISTOPHER STEVENS BOARD MEMBER 3.00 X 0 0 0 CHUCK ROSSI EXECUTIVE BOARD MEMBER 0.50 X 0 0 0 DAVE LAFOND BOARD MEMBER 5.00 X 0 0 0 DAVID REYNOLDS BOARD MEMBER 1.00 X 0 0 0 DAVID SIMON TREASURER 5.00 X X 0 0 0 CHARLES D SURFACE BOARD MEMBER 0.50 X 0 0 0 DOLORES ZAPPALA BOARD MEMBER 1.00 X 0 0 0 GREG SMALL BOARD MEMBER 0.50 X 0 0 0 GREG WOOD BOARD MEMBER (UNTIL 9/30/23) 1.00 X 0 0 0 GRETCHEN CHAMBERLAIN BOARD MEMBER 2.00 X 0 0 0 JACK DONOVAN BOARD MEMBER 2.00 X 0 0 0 JACK SHALLOW BOARD MEMBER 2.00 X 0 0 0 JEFF BAJGOT SECRETARY 5.00 X X 0 0 0 JEFF BICKFORD BOARD MEMBER 1.50 X 0 0 0 JENNIFER GOLD BOARD MEMBER 1.00 X 0 0 0 JIM CRONIN PRESIDENT AND CEO 5.00 X X 0 0 0 JIM O'NEIL BOARD MEMBER 2.00 X 0 0 0 JOHN CAMPESE BOARD MEMBER 1.00 X 0 0 0 JOHN SHEA JR BOARD MEMBER 1.00 X 0 0 0 JON RANDALL BOARD MEMBER 2.00 X 0 0 0 JOSH MALATE BOARD MEMBER 2.00 X 0 0 0 JULIA CICHOWSKI BOARD MEMBER 2.00 X 0 0 0 KARAN SHARMA BOARD MEMBER 1.00 X 0 0 0 KAREN DILLARD BOARD MEMBER 3.00 X 0 0 0 KELLY HART BOARD MEMBER 12.00 X 0 0 0 KIMBERLY MITCHELL-POTTER EXECUTIVE BOARD MEMBER 10.00 X 0 0 0 KRISTEN WILSON BOARD MEMBER 0.50 X 0 0 0 LISA SILIPIGNO BOARD MEMBER 1.00 X 0 0 0 MARTIN MCGEE EXECUTIVE BOARD MEMBER 5.00 X 0 0 0 MELISSA GREER BOARD MEMBER 1.00 X 0 0 0 MICHAEL WOODALL EXECUTIVE BOARD MEMBER 4.00 X 0 0 0 MIKE KELLY BOARD MEMBER 1.00 X 0 0 0 MIKE STEVENS EXECUTIVE BOARD MEMBER 2.00 X 0 0 0 NICK KLESARIS BOARD MEMBER 0.50 X 0 0 0 NICK RUTHMANN BOARD MEMBER 1.00 X 0 0 0 PAUL WARD BOARD MEMBER 5.00 X 0 0 0 ROB MCGILL BOARD MEMBER 1.00 X 0 0 0 VIVIEN TUCKER BOARD MEMBER 1.00 X 0 0 0 CHRIS HOLLAND CHIEF OPERATING OFFICER 50.00 X 176786 0 22630 DONNA MONTEMAGNO CHIEF FINANCIAL OFFICER 50.00 X 105980 0 7450 282766 0 30080 2 0 1 0 MAYO TOURS 516 MARTIN STREET WEST MONROE LA 71292 TRANSPORTATION SERVICES 350000 1 954967 62435 284796 1115854 266513 2418052 GREAT EAST FESTIVAL 711190 749151 749151 DRUM AND BUGLE CORPS 711190 410983 410983 FANTASTIC FESTIVAL 711190 303654 303654 1463788 109 109 95700 51047 44653 44653 27378 17275 25700 -25700 -25700 -25700 66277 62435 18319 47958 47958 526066 221629 304437 304437 MISCELLANEOUS REVENUE 900099 6832 6832 6832 4260129 1768225 27378 46474 X 326078 217873 75597 32608 716935 644919 42132 29884 98224 50849 43775 3600 82046 68819 8612 4615 30130 30130 449252 416082 28990 4180 2299 2112 44 143 54563 39039 13351 2173 51803 31018 15714 5071 31141 21459 9682 849757 821408 25970 2379 5070 5070 63852 61562 2290 209189 195843 13346 103305 89946 13259 100 PRODUCTION AND TOUR FAC 988124 983606 4250 268 FOOD 200407 198807 1600 EQUIPMENT EXPENSES 126994 126994 FEES AND SERVICE CHARGE 76916 63721 124 13071 4466085 4039127 328866 98092 638463 141516 458651 583327 0 102290 30161 30383 9162 5409 242276 222364 4657 1612 2335513 620631 1338326 1714882 560209 482709 3281905 3284492 113476 365021 54204 8520 1535914 1473538 181078 246136 1884672 2093215 X 1397233 1191277 1397233 1191277 3281905 3284492 -205956 0 X X 0 1 X 1 0 X 2159161 1240740 2432480 3339048 2418052 11589481 1838845 309978 619258 1316864 1989854 6074799 3998006 1550718 3051738 4655912 4407906 17664280 420500 176948 164512 167197 240577 1169734 0 420500 176948 164512 167197 240577 1169734 16494546 72570 66336 74253 75606 68431 357196 72570 66336 74253 75606 68431 357196 22230 20164 20547 19221 27378 109540 16460 45574 10565 6832 79431 4109266 1682792 3146538 4761304 4510547 18210447 0.90580 0.88110 0.01960 0.02670 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2018 AMOUNT: $ 16,460. 2019 AMOUNT: $ 45,574. 2021 AMOUNT: $ 10,565. 2022 AMOUNT: $ 6,832. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 831314 167519 663795 546179 203690 342489 958020 249422 708598 1714882 REFUNDABLE ADVANCES OF GRANTS 124015 LOAN FROM RELATED PARTY 122121 246136 X 4260129 0 4260129 0 4260129 4466085 0 4466085 0 4466085 PART X, LINE 2: THE FOLLOWING IS AN EXCERPT FROM NOTE TWO OF THE FINANCIAL STATEMENTS: THE ORGANIZATION HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN IRC SECTION 501(C)(3), QUALIFIES FOR CHARITABLE CONTRIBUTION DEDUCTIONS, AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION. THE ORGANIZATION IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE ORGANIZATION IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSE. THE ORGANIZATION ACCOUNTS FOR UNCERTAIN TAX PROVISIONS UNDER FASB ASC 740, INCOME TAXES, WHICH PROVIDES A FRAMEWORK FOR HOW ENTITIES SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE UNCERTAIN TAX POSITIONS IN THEIR FINANCIAL STATEMENTS. THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS REVIEWED THE ORGANIZATION'S REPORTING AND BELIEVES THEY HAVE NOT TAKEN TAX POSITIONS THAT ARE MORE LIKELY THAN NOT TO BE DETERMINED TO BE INCORRECT BY THE IRS AND, THEREFORE, NO ADJUSTMENTS OR DISCLOSURES ARE REQUIRED. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS PENDING OR IN PROGRESS. GOLF TOURNAMENT 85025 62435 22590 18319 SILENT AUCTION 50/50 31992 31992 1 11695 11695 128712 62435 66277 18319 18319 47958 X 0 0 0 0 0 0 0 1 0 CHRIS HOLLAND CHIEF OPERATING OFFICER 161786 0 15000 0 0 0 5950 0 16680 0 199416 0 0 0 PART I, LINE 7 THE CHIEF OPERATING OFFICER RECEIVED A DISCRETIONARY BONUS THAT WAS APPROVED BY THE COMPENSATION COMMITTEE. MICHAEL WOODALL BOARD MEMBER AND OWNER OF FLEETWOOD IN FISCAL YEAR 2016, THE ORGANIZATION ENTERED INTO AN AGREEMENT WITH FLEETWOOD SOUNDS, LLC (FLEETWOOD), WHICH IS OWNED BY A BOARD MEMBER. THE AGREEMENT STATES THAT THE ORGANIZATION WILL BE THE EXCLUSIVE DEALER OF ALL FLEETWOOD PRODUCTS AND WILL MANAGE ITS DAY-TO-DAY OPERATIONS BY HOSTING FLEETWOOD'S BUSINESS OPERATIONS, PERFORMING FINANCIAL ACCOUNTING, MARKETING, WEB AND ONLINE PRESENCE. ALL PHYSICAL AND INTELLECTUAL PROPERTIES OF FLEETWOOD WILL BE MANAGED BY, AND ALL REVENUES AND EXPENSES WILL BE REALIZED BY, THE ORGANIZATION. EITHER PARTY MAY TERMINATE THE AGREEMENT BY GIVING 90 DAYS WRITTEN NOTICE. 0 X 65371 COST X INSTRUMENTS 182 201142 COST 0 1 0 PART I, COLUMN (B): THE AMOUNT IN COLUMN B REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 2 INSPIRE ARTS & MUSIC INVESTMENT CLUB (IAMIC) IS ORGANIZED AS A GENERAL PARTNERSHIP DOMICILED IN THE STATE OF NEW HAMPSHIRE. IT OPERATES UNDER ITS OWN BY-LAWS AND A MAJORITY OF ITS PARTNERS ALSO SIT ON THE BOARD OF DIRECTORS OF THE ORGANIZATION. THE PRIMARY PURPOSE OF IAMIC IS TO GENERATE CAPITAL FUNDING FOR THE ORGANIZATION THROUGH INVESTMENTS IN THE FORM OF PROMISSORY NOTES WITH THE ORGANIZATION. AT YEAR END, $122,121 WAS OWED TO IAMIC. FORM 990, PART VI, SECTION A, LINE 2 MICHAEL WOODALL AND RICK WOODALL AND CHRIS STEVENS AND MICHAEL STEVENS HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MAINTAINS A CONFLICT OF INTEREST POLICY WHICH IS REVIEWED AT THE ANNUAL BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15 ANNUAL REVIEW OF EXECUTIVE DIRECTOR COMPENSATION-WHO IS THE ONLY KEY EMPLOYEE AND PAID MEMBER OF TOP MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION IS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 416,082. MANAGEMENT AND GENERAL EXPENSES 28,990. FUNDRAISING EXPENSES 4,180. TOTAL EXPENSES 449,252. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. INSPIRE ARTS & MUSIC INVESTMENT CLUB 241 WALLACE ROAD BEDFORD NH 03110 810951988 GENERATE CAPITAL FUNDING FOR IAM NH N/A 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 INSPIRE ARTS & MUSIC INVESTMENT CLUB E 122121 ACTUAL