2025-02-04T00:43:33-06:00 2024-06-30 232108173 RKL LLP 1330 BROADCASTING ROAD WYOMISSING PA 196106008 990 2023-07-01 231472487 READING MUSICAL FOUNDATION READ 6103763395 P O BOX 14835 READING PA 19612 STEPHANIE KOCHER TREASURER 6103763395 2025-01-22 1 0 RUTHANN J WOLL CPA P00647342 6103761595 2025-01-22 2023 2025-03-06 01:10:19Z KERI SHULTZ P O BOX 14835 READING PA 19612 1901497 0 X WWW.READINGMUSICALFOUNDATION.ORG X 1927 PA TO ADVANCE AND ADVOCATE FOR MUSIC EDUCATION AND APPRECIATION IN BERKS COUNTY. 16 16 4 25 0 0 1202428 699649 2700 2900 525823 817937 3821 3189 1734772 1523675 718431 749490 0 0 199885 232581 0 0 59884 165474 249476 1083790 1231547 650982 292128 19546330 21639152 403590 421423 19142740 21217729 TO ADVANCE AND ADVOCATE FOR MUSIC EDUCATION AND APPRECIATION IN BERKS COUNTY. 0 0 275712 275712 STUDENT SCHOLARSHIPS - THE SCHOLARSHIP PROGRAM PROVIDES FINANCIAL ASSISTANCE TO COMMITTED BERKS COUNTY MUSIC STUDENTS WHO AUDITION ON MERIT OR DEMONSTRATE FINANCIAL NEED. SCHOLARSHIPS ARE AVAILABLE FOR PIANO, ORGAN, WOODWIND, BRASS, PERCUSSION, STRING, HARP, GUITAR AND VOCAL STUDENTS, AS WELL AS AWARDS FOR COLLEGE TUITION. FINANCIAL NEED-BAESD SCHOLARSHIPS SUPPORT SUMMER CAMP PARTICIPATION, PRIVATE MUSIC STUDY, AND INSTRUMENT UPGRADE REQUESTS. 576718 365128 APPROPRIATIONS TO MUSIC PRESENTERS AND SPECIAL PROJECTS: GRANTS ARE PROVIDED TO SUPPORT CULTURAL DEVELOPMENT FOR MUSIC-PRESENTING ORGANIZATIONS THAT PERFORM PRIMARILY IN BERKS COUNTY. IN THE PAST YEAR, FUNDING WAS AWARDED TO 24 MUSICAL ORGANIZATIONS, WITH PROGRAM GRANTS DISTRIBUTED BASED ON EACH ORGANIZATION'S OR PROGRAM'S ALIGNMENT WITH THE MISSION OF THE READING MUSICAL FOUNDATION. 119799 108649 2900 MUSIC OUTREACH - MUSIC OUTREACH PROGRAMS BRING MUSICAL EXPERIENCE TO COMMUNITY MEMBERS WHO MAY NOT HAVE THE MEANS TO PARTICIPATE OR MAY NOT YET RECOGNIZE THE VALUE OF THESE OPPORTUNITIES. PROGRAMS INCLUDE OPERATION REPLAY (INSTRUMENT RECYLCING), MUSIC IN THE SCHOOLS, AFTER-SCHOOL INSTRUCTIONAL PROGRAMS, WORKSHOPS, AND MASTER CLASSES. FROM SEPTEMBER 2023 TO MAY 2024, RMF PROVIDED OVER 15 HOURS AFTER-SCHOOL PROGRAMMING EACH WEEK. 972229 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 65 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 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 84293 0 26744 PAUL G OXHOLM CHAIR 2.00 X X 0 0 0 FRAN POST VICE CHAIR OF DEVELOPMENT 2.00 X X 0 0 0 MARTHA AYNARDI VICE CHAIR OF FINANCE 2.00 X X 0 0 0 SRIVIDYA RAMANATHAN VICE CHAIR OF PROGRAMS 2.00 X X 0 0 0 TIMOTHY SIMMONS TREASURER 2.00 X X 0 0 0 TIM HAYNES ASSISTANT TREASURER 1.00 X X 0 0 0 SANDY KERN SECRETARY 2.00 X X 0 0 0 DAVID L KLINE ASSISTANT SECRETARY 1.00 X 0 0 0 VIRGINIA DODGE TRUSTEE 1.00 X 0 0 0 LEWIS FREEMAN TRUSTEE 1.00 X 0 0 0 RICK TOMLINSON BEG 1123 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 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 84293 0 26744 0 0 0 0 0 13000 686649 699649 MUSIC IN SCHOOLS 711300 2900 2900 2900 525242 525242 661488 368793 292695 292695 292695 12100 9029 3071 3071 MISCELLANEOUS INCOME 711300 118 118 118 1523675 2900 0 821126 473777 473777 275713 275713 90704 58720 22972 9012 123026 73816 36907 12303 3297 1813 1237 247 15554 8555 5833 1166 14888 8933 5955 38404 13249 25155 16466 12741 3725 45887 23846 6906 15135 8290 4974 1658 1658 18742 13120 2811 2811 711 711 BAD DEBT EXPENSE 90000 90000 CAMPAIGN EXPENSE 13827 13827 MUSIC ADVOCACY 2261 2261 1231547 972229 199434 59884 152896 192883 69214 56207 86190 39048 2900 2568 44682 39718 5675 4964 15194060 16877482 4035395 4466000 19546330 21639152 78636 111208 324954 310215 403590 421423 X 10259200 11298477 8883540 9919252 19142740 21217729 19546330 21639152 X 292128 1368001 414860 X X 0 1 X 1 0 X 773972 611687 735050 526757 590642 3238108 773972 611687 735050 526757 590642 3238108 2774 3235334 394589 419425 761877 493352 525242 2594485 9133 9476 2342 12647 118 33716 5866309 31089 0.55150 0.55000 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2019 AMOUNT: $ 9,133. 2020 AMOUNT: $ 9,476. 2021 AMOUNT: $ 2,342. 2022 AMOUNT: $ 12,647. 2023 AMOUNT: $ 118. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4878419 130395 800606 310149 5499271 4459029 107951 577695 266256 4878419 5359165 255544 -861809 293871 4459029 4111330 159737 1393991 305893 5359165 3848214 287121 269751 293756 4111330 0.00000 0.03410 0.96590 0 0 6499 6499 0 38183 33219 4964 4964 INTEREST RECEIVABLE 14219 INTEREST IN PERPETUAL TRUST 4419981 DONATED INSTRUMENTS HELD FOR DISTRIBUTION 11550 OTHER RECEIVABLES 20250 4466000 X 3277161 1368001 423889 1791890 1485271 38404 38404 1523675 1202172 9029 9029 1193143 38404 38404 1231547 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, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF PERPETUAL TRUSTS 414,860. SEPCIAL EVENT EXPENSES 9,029. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES 38,404. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 9,029. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES 38,404. 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) 15000 0 RESTRICTED GRANT FOR CONCERT PERFORMANCE EXPENSES BERKS YOUTH CHORUS 201 WASHINGTON STREET STE 506B READING PA 19601 232684036 501(C)(3) 5800 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 OLIVET BOYS & GIRLS CLUB 1161 PERSHING BLVD READING PA 19611 231365380 501(C)(3) 49850 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) 18500 0 RESTRICTED GRANT FOR CONCERT, EDUCATION AND CONCERT PROGRAM EXPENSES READING POPS ORCHESTRA 3314 REEDY ROAD READING PA 19608 232469343 501(C)(3) 6200 0 RESTRICTED GRANT FOR CONCERT, EDUCATION AND CONCERT PROGRAM EXPENSES READING SYMPHONY ORCHESTRA 147 NORTH 5TH STREET READING PA 19601 231741046 501(C)(3) 126620 0 RESTRICTED GRANT FOR CONCERT, EDUCATION AND CONCERT PROGRAM EXPENSES RINGGOLD BAND 3539 FREMONT STREET READING PA 19605 236003396 501(C)(3) 28000 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) 11000 0 RESTRICTED GRANT FOR EARLY CHILDHOOD MUSIC THEATER AND JAZZ PROGRAMS VOX PHILIA 710 N FIFTH STREET READING PA 19601 461545840 501(C)(3) 8250 0 RESTRICTED GRANT FOR CONCERT PERFORMANCE EXPENSES WCR CENTER FOR THE ARTS 140 N FIFTH STREET READING PA 19601 320117034 501(C)(3) 5100 0 RESTRICTED GRANT FOR CONCERT PERFORMANCE EXPENSES 12 0 FINANCIAL NEED 494 165462 FINANCIAL ASSISTANCE TO COMMITTED BERKS COUNTY STUDENTS WHO AUDITION ON MERIT OR DEMONSTRATE A FINANCIAL NEED. 147 110251 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 5000 CASH GRANT OUTREACH GRANT FOR GUITAR-A-RAMA 2024 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 414,860. 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.