2024-01-31T13:06:29-06:00 2023-06-30 232108173 RKL LLP 1330 BROADCASTING ROAD WYOMISSING PA 196106008 990 2022-07-01 231472487 READING MUSICAL FOUNDATION READ 6103763395 P O BOX 14835 READING PA 19612 TIM SIMMONS TREASURER 6103763395 2024-01-19 1 TIM SIMMONS 999009999 0 RUTHANN J WOLL CPA P00647342 6103761595 2024-01-19 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z KERI SHULTZ P O BOX 14835 READING PA 19612 2428074 0 X WWW.READINGMUSICALFOUNDATION.ORG X 1927 PA TO ADVANCE AND ADVOCATE FOR MUSIC EDUCATION AND APPRECIATION IN BERKS COUNTY. 17 17 3 25 0 0 1167751 1202428 2800 2700 2358113 525823 2342 3821 3531006 1734772 623309 718431 0 0 182848 199885 0 0 55532 133834 165474 939991 1083790 2591015 650982 17638151 19546330 359041 403590 17279110 19142740 TO ADVANCE AND ADVOCATE FOR MUSIC EDUCATION AND APPRECIATION IN BERKS COUNTY. 0 0 238901 238901 STUDENT SCHOLARSHIPS - THE SCHOLARSHIP PROGRAM PROVIDES FINANCIAL ASSISTANCE FOR COMMITTED BERKS COUNTY MUSIC STUDENTS WHO AUDITION ON MERIT OR DEMONSTRATE A FINANCIAL NEED MERIT. SCHOLARSHIPS INCLUDE THE AREAS OF PIANO, ORGAN, WOODWIND, BRASS, PERCUSSION, STRING, HARP, GUITAR, VOCAL, AND AWARDS FOR COLLEGE TUITION. FINANCIAL NEED SCHOLARSHIPS INCLUDE SUMMER CAMP, PRIVATE MUSIC STUDY, AND INSTRUMENT UPGRADE REQUESTS. 590961 390034 APPROPRIATIONS TO MUSIC PRESENTERS AND SPECIAL PROJECTS GRANTS ARE PROVIDED FOR CULTURAL DEVELOPMENT TO MUSIC PRESENTING ORGANIZATIONS THAT PERFORM PRIMARILY IN BERKS COUNTY. FUNDING SUPPORT WAS PROVIDED TO 24 MUSICAL ORGANIZATIONS AND PROGRAM GRANTS AWARDED BASED UPON THE ORGANIZATION/PROGRAM'S ABILITY TO RELATED TO THE MISSION OF THE READING MUSICAL FOUNDATION. 99504 89495 2700 MUSIC OUTREACH - MUSIC OUTREACH PROGRAMS SHARE THE MUSICAL EXPERIENCE WITH MEMBERS OF THE COMMUNITY WHO MAY NOT BE ABLE TO PAY FOR OR APPRECIATE WHY IT IS WORTH PAYING FOR PROGRAMS INCLUDING OPERATION REPLAY (INSTRUMENT RECYCLING), MUSIC IN THE SCHOOLS, AFTER-SCHOOL INSTRUCTIONAL PROGRAMS, WORKSHOPS AND MASTER CLASSES. RMF DEVOTED OVER 15 HOURS/WEEKLY OF AFTER-SCHOOL PROGRAMMING FROM SEPTEMBER 2022- MAY 2023. 929366 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 X 71 0 1 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X X THE ORGANIZATION 6103763395 201 WASHINGTON STREET SUITE 503 READING PA 19601 KERI M SHULTZ PRESIDENT 40.00 X 83407 0 22287 PAUL G OXHOLM CHAIR 2.00 X X 0 0 0 VIRGINIA DODGE VICE CHAIR OF DEVELOPMENT 1.00 X X 0 0 0 DAVID L KLINE VICE CHAIR OF DEVELOPMENT 1.00 X X 0 0 0 LEWIS FREEMAN VICE CHAIR OF FINANCE 2.00 X X 0 0 0 MARTHA AYNARDI VICE CHAIR OF PROGRAMS 1.00 X X 0 0 0 SRIVIDYA RAMANATHAN VICE CHAIR OF PROGRAMS 1.00 X X 0 0 0 TIMOTHY SIMMONS TREASURER 2.00 X X 0 0 0 TIM HAYNES ASSISTANT TREASURER 1.00 X 0 0 0 SANDY KERN SECRETARY 2.00 X X 0 0 0 JAYNE R SCHAEFFER CPA IMMEDIATE PAST CHAIR 1.00 X X 0 0 0 FRAN POST TRUSTEE 1.00 X 0 0 0 MICHAEL ANDERSON TRUSTEE 1.00 X 0 0 0 KENT GUTZLER TRUSTEE 1.00 X 0 0 0 TAHJ MORALES TRUSTEE 1.00 X 0 0 0 KIM WEBSTER TRUSTEE 1.00 X 0 0 0 JAMIE THOMPSON TRUSTEE 1.00 X 0 0 0 STEPHANIE KOCHER TRUSTEE 1.00 X 0 0 0 83407 0 22287 0 0 0 0 0 13000 1189428 21831 1202428 MUSIC IN SCHOOLS 711300 2700 2700 2700 493352 493352 711962 679491 32471 32471 32471 4985 13811 -8826 -8826 MISCELLANEOUS INCOME 711300 12647 12647 12647 1734772 2700 0 529644 479529 479529 238902 238902 87283 56505 22108 8670 96845 58107 29053 9685 2612 1436 980 196 13145 7230 4929 986 14020 8412 5608 33576 11584 21992 13412 10543 2869 55963 34131 9748 12084 8811 5287 1762 1762 18083 12659 2712 2712 2278 2278 CAMPAIGN EXPENSE 16568 16568 MUSIC ADVOCACY 2763 2763 1083790 929366 98892 55532 85238 152896 38804 69214 109531 86190 750 2900 44682 39007 842 5675 13555586 15194060 3847400 4035395 17638151 19546330 59150 78636 299891 324954 359041 403590 X 8996806 10259200 8282304 8883540 17279110 19142740 17638151 19546330 X 650982 1030802 181846 X X 0 1 X 1 0 X 520461 773972 611687 735050 526757 3167927 520461 773972 611687 735050 526757 3167927 10287 3157640 457776 394589 419425 761877 493352 2527019 12125 9133 9476 2342 12647 45723 5740669 37406 0.55000 0.54890 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2018 AMOUNT: $ 12,125. 2019 AMOUNT: $ 9,133. 2020 AMOUNT: $ 9,476. 2021 AMOUNT: $ 2,342. 2022 AMOUNT: $ 12,647. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4459029 107951 577695 266256 4878419 5359165 255544 -861809 293871 4459029 4111330 159737 1393991 305893 5359165 3848214 287121 269751 293756 4111330 3629855 151759 267856 201256 3848214 0.00000 0.03850 0.96150 0 0 6499 6499 0 38183 32508 5675 5675 INTEREST RECEIVABLE 14375 INTEREST IN PERPETUAL TRUST 4005120 DONATED INSTRUMENTS HELD FOR DISTRIBUTION 15900 4035395 X 2927655 1030802 195657 1226459 1701196 33576 33576 1734772 1064025 13811 13811 1050214 33576 33576 1083790 PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO PROVIDE A VARIETY OF SPECIFIC MUSIC RELATED SCHOLARSHIPS TO STUDENTS IN BERKS COUNTY, PROVIDE GENERAL OPERATING SUPPORT FOR THE FOUNDATION AND SUPPORT THE READING SYMPHONY ORCHESTRA. PART X, LINE 2: AS A NOT-FOR-PROFIT FOUNDATION, THE FOUNDATION IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THEREFORE, THE FOUNDATION HAS MADE NO PROVISION FOR FEDERAL INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME. THE FOUNDATION RECOGNIZES PENALTIES AND INTEREST ACCRUED RELATED TO INCOME TAX LIABILITIES IN THE PROVISION (BENEFIT) FOR INCOME TAXES IN ITS STATEMENT OF ACTIVITIES. FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, THERE WERE NO ACCRUALS FOR THE PAYMENT OF PENALTIES AND INTEREST. WHEN TAX RETURNS ARE FILED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD ULTIMATELY BE SUSTAINED. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS TAKEN ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. THE PORTION OF THE BENEFITS ASSOCIATED WITH TAX POSITIONS TAKEN THAT EXCEEDS THE AMOUNT MEASURED AS DESCRIBED ABOVE IS REFLECTED AS A LIABILITY FOR UNRECOGNIZED TAX BENEFITS IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION ALONG WITH ANY ASSOCIATED INTEREST AND PENALTIES THAT WOULD BE PAYABLE TO THE TAXING AUTHORITIES UPON EXAMINATION. THE FOUNDATION FILES TAX RETURNS IN THE U. S. FEDERAL JURISDICTION. THE FOUNDATION'S INCOME TAX RETURNS ARE NOT SUBJECT TO EXAMINATION THROUGH THE YEAR ENDED JUNE 30, 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF PERPETUAL TRUSTS 181,846. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES 33,576. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 13,811. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES 33,576. 1 BERKS ARTS 201 WASHINGTON STREET STE 529 READING PA 19601 237366925 501(C)(3) 13700 0 RESTRICTED GRANT FOR GET JAZZED, SUMMER JAZZ CAMP, AND MEC FESTIVALS BERKS SINFONIETTA 710 N FIFTH STREET READING PA 19601 472060533 501(C)(3) 7000 0 RESTRICTED GRANT FOR CONCERT PERFORMANCE EXPENSES BERKS YOUTH CHORUS 201 WASHINGTON STREET STE 506B READING PA 19601 232684036 501(C)(3) 7000 0 RESTRICTED GRANT FOR SCHOLARSHIP AND SUMMER SING EXPENSES FRIENDS OF CHAMBER MUSIC 1320 E WYOMISSING BLVD READING PA 19611 232188187 501(C)(3) 7800 0 RESTRICTED GRANT FOR CONCERT PERFORMANCES AND OUTREACH PROGRAM EXPENSES GOGGLEWORKS CENTER FOR THE ARTS 201 WASHINGTON STREET READING PA 19601 412165262 501(C)(3) 15000 0 RESTRICTED GRANT FOR SOUND STUDIO INTENSIVE/MUSIC INDUSTRY PROGRAM OLIVET BOYS & GIRLS CLUB 1161 PERSHING BLVD READING PA 19611 231365380 501(C)(3) 29990 0 RESTRICTED GRANT FOR SUMMER MUSIC AND WEEKLY MUSIC CLASSES READING CHORAL SOCIETY 201 WASHINGTON STREET SUITE 504 READING PA 19601 231970528 501(C)(3) 21500 0 RESTRICTED GRANT FOR CONCERT, EDUCATION AND CONCERT PROGRAM EXPENSES READING POPS ORCHESTRA 3314 REEDY ROAD READING PA 19608 232469343 501(C)(3) 10000 0 RESTRICTED GRANT FOR CONCERT, EDUCATION AND CONCERT PROGRAM EXPENSES READING SYMPHONY ORCHESTRA 147 NORTH 5TH STREET READING PA 19601 231741046 501(C)(3) 128630 0 RESTRICTED GRANT FOR CONCERT, EDUCATION AND CONCERT PROGRAM EXPENSES RINGGOLD BAND 3539 FREMONT STREET READING PA 19605 236003396 501(C)(3) 20000 0 RESTRICTED GRANT FOR CONCERT, EDUCATION AND CONCERT PROGRAM EXPENSES YOCUM INSTITUTE FOR ARTS EDUCATION 3900 PENN AVENUE WEST LAWN PA 19609 231365985 501(C)(3) 7575 0 RESTRICTED GRANT FOR EARLY CHILDHOOD MUSIC THEATER AND JAZZ PROGRAMS 11 0 FINANCIAL NEED 421 163832 FINANCIAL ASSISTANCE TO COMMITTED BERKS COUNTY STUDENTS WHO AUDITION ON MERIT OR DEMONSTRATE A FINANCIAL NEED. 152 75070 SCHEDULE I, PART I, LINE 2 READING MUSICAL FOUNDATION DEMANDS THE FOLLOWING AS PART OF THE GRANT AGREEMENT WITH RECIPIENTS RECEIVING FUNDS: 1) RECIPIENTS WILL SEND AN EVALUATION OF THE RECIPIENT'S SEASON TO DATE, COMPARING ACTUAL OUTCOMES WITH EXPECTATIONS, AND AN ACCOUNTING OF HOW THE RECIPIENTS APPLIED THE AWARD BY APRIL 15TH OF THE FOLLOWING YEAR, 2) RECIPIENTS ARE ALSO REQUIRED TO RETURN ANY PORTION OF THE GRANT THAT WAS UNSPENT, AND THE FULL AMOUNT IF RMF DETERMINES THERE WAS MATERIAL MISSTATEMENT IN THE APPLICATION, OR IF ANY REQUIRED GOVERNANCE OR FINANCIAL REPORTING PRACTICES DESCRIBED IN THE APPLICATION CEASES DURING THE YEAR. DAVID KLINE BOARD MEMBER 1000 CASH GRANT OUTREACH GRANT FOR BERKS COUNTY ROCK & ROLL HALL OF FAME FORM 990, PART V, LINE 1C THE ORGANIZATION DID NOT HAVE ANY INSTANCES WHERE BACKUP WHITHHOLDING WAS REQUIRED; HOWEVER, IF THE SITUATION WOULD ARISE, THE ORGANIZATION IS AWARE OF THE REPORTING REQUIREMENTS AND WOULD HANDLE THAT ACCORDINGLY. FORM 990, PART VI, SECTION B, LINE 11B THE TAX PREPARER SUBMITS A DRAFT COPY FOR REVIEW TO THE VICE CHAIR OF FINANCE, PRESIDENT OF THE ORGANIZATION AND OTHER TRUSTEES APPOINTED BY THE BOARD TO REVIEW THE 990. ONCE THESE APPOINTED PERSONS ARE SATISFIED WITH THE TAX RETURN, IT IS MADE AVAILABLE TO THE ENTIRE BOARD OF TRUSTEES. FAILING ANY CHANGES MADE BY THE TRUSTEES, THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE PRESIDENT ANNUALLY MONITORS AND REVIEWS WITH CHAIRPERSON FOR ANY POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS BASED ON SALARIES OF OTHER NON-PROFIT EXECUTIVES OF A SIMILAR SIZE IN THE READING/BERKS AREA; THE LEVEL OF EXPERIENCE AND TRAINING; PERCENTAGE OF ANNUAL INCOME & OPERATING BUDGET; ADDITIONAL BENEFITS PROVIDED INDLUDING HEALTH BENEFITS AND RETIREMENT. FORM 990, PART VI, SECTION C, LINE 18 FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 FORM 990 IS MADE AVAILABLE UPON REQUEST OR IS OPEN FOR PUBLIC REVIEW AT GUIDESTAR.ORG FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON PERPETUAL TRUSTS 181,846. FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE IN HOW THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT, OF ITS FINANCIAL STATEMENT, OR IN THE SELECTION OF THE INDEPENDENT ACCOUNTANT.