2025-03-25T09:35:38-05:00 2024-06-30 872525370 CITRIN COOPERMAN ADVISORS LLC 500 EXCHANGE STREET SUITE 9-100 PROVIDENCE RI 02903 990 2023-07-01 841799483 FRIENDS OF THE RECORD COMPANY INC FRIE 6177650155 960 MASSACHUSETTS AVENUE BOSTON MA 02118 BOBBY BOYD EXECUTIVE DIRECTOR 6177650155 2025-03-24 1 1 AMBER BICHUN P01718349 4014214800 2025-03-24 2023 2025-03-06 01:10:19Z BOBBY BOYD 960 MASSACHUSETTS AVENUE BOSTON MA 02118 665411 0 X WWW.THERECORDCO.ORG X 2019 MA PROVIDE SUPPORT TO THE RECORD COMPANY, INC. ("TRC") 5 5 0 0 0 0 0 0 664970 664971 309 440 0 0 665279 665411 0 0 0 0 0 0 0 0 33480 704505 706165 704505 706165 -39226 -40754 8644299 8500557 8182051 8079063 462248 421494 X IT IS THE SOLE PURPOSE OF FRIENDS OF THE RECORD COMPANY, INC. ("FOTRC") TO PROVIDE FINANCING AND FUNDS FOR THE BENEFIT OF THE RECORD COMPANY, INC. ("TRC") IN SUPPORT OF ITS MISSION AND EXEMPT PURPOSE. THESE FUNDS ARE PROVIDED IN THE FORM OF GRANTS AND LOW OR NON-INTEREST BEARING LOANS. 0 0 599972 664971 THE CONSTRUCTION WAS COMPLETED AND THE NEW SPACE OPENED IN JANUARY OF 2021, WHICH FEATURES A TOTAL OF 20 ROOMS - FOUR RECORDING STUDIOS, A COMMUNITY GATHERING ROOM, AND 15 SOUND-ISOLATED MUSIC "REHEARSAL" SUITES WITH A COMPLEMENT OF MUSICAL INSTRUMENTS AND AMPLIFICATION, WHICH CAN BE USED FLEXIBLY. FOTRC SUBLEASES THE FACILITY TO TRC, WHICH NEARLY TRIPLES TRC'S BOOKABLE CAPACITY AND WILL ALLOW TRC TO SERVE UP TO 20,000 MUSIC MAKERS PER YEAR. 599972 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MA X INSOURCE SERVICES INC 7812351490 148 LINDEN ST WELLESLEY MA 02482 MATTHEW S MCARTHUR EXECUTIVE DIRECTOR (THRU 3/24) 1.00 39.00 X X 0 97828 3622 ANDREW SCHULERT TREASURER 1.00 1.00 X X 0 0 0 LESLIE MILLER JEWETT CLERK 40.00 X X 0 0 0 JOHN ESCOBAR DIRECTOR 1.00 1.00 X 0 0 0 FELICE L SILVERMAN DIRECTOR 1.00 X 0 0 0 BOBBY BOYD EXECUTIVE DIRECTOR (AS OF 6/24) 1.00 39.00 X X 0 97298 3622 0 195126 7244 0 0 0 0 0 RENT REVENUE 532000 664971 664971 664971 440 440 665411 664971 0 440 23161 23161 340881 299440 24731 16710 41787 36707 3032 2048 300336 263825 21789 14722 706165 599972 72713 33480 14546 36172 62450 62450 334152 661308 4953838 1026150 4228024 3927688 4005127 3812939 8644299 8500557 7120 2459 4214000 4226286 3960931 3850318 8182051 8079063 X 462248 421494 462248 421494 8644299 8500557 -40754 0 X 0 1 X 1 0 X X X 1 THE RECORD COMPANY INC 271238513 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 4953838 1026150 3927688 3927688 OPERATING LEASE - RIGHT USE OF ASSETS 3749084 CHASE RESERVE ACCOUNT 63855 3812939 OPERATING LEASE LIABILITY 3839978 DUE TO RELATED PARTY 10340 3850318 X PART X, LINE 2: FOTRC IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTIONS 501(C)(3) OF THE INTERNAL REVENUE CODE. FURTHER, FOTRC IS A TYPE 1 SUPPORTING ORGANIZATION OPERATED FOR THE BENEFIT OF TRC, WITHIN THE MEANING OF SECTION 509(A)(3) OF THE IRC. THE ORGANIZATION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX ("UBIT"), IF APPLICABLE. IN ACCORDANCE WITH FASB ASC 740, INCOME TAXES, THE ORGANIZATION APPLIES THE "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION AND DERECOGNITION OF TAX POSITIONS FOR ITS CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT HAS EVALUATED THE ORGANIZATION'S TAX POSITIONS AND HAS CONCLUDED THAT THERE WERE NO UNCERTAIN TAX POSITIONS THAT QUALIFIED FOR EITHER RECOGNITION OR DISCLOSURE. FORM 990, PART VI, SECTION A, LINE 7A THE TREASURER, CLERK OF THE RECORD COMPANY, INC. SHALL SERVE AS DIRECTORS EX OFFICIO, WITH FULL VOTING RIGHTS. OTHER MEMBERS OF THE BOARD OF DIRECTORS MAY BE ELECTED BY THE THE RECORD COMPANY, INC. BOARD OF TRUSTEES AND FROM AMONG THEIR NUMBER. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE MADE AVAILABLE TO THE MEMBERS OF THE GOVERNING BOARD TO REVIEW PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS REVIEW AND SIGN CONFLICT OF INTEREST AGREEMENTS ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS DURING THE TAX YEAR ARE PROVIDED TO THE PUBLIC IF A WRITTEN REQUEST IS SUBMITTED TO THE RECORD COMPANY, INC. IN ADDITION, AN ELECTRONIC VERSION IS AVAILABLE FOR PUBLIC INSPECTION ON THE MA ATTORNEY GENERAL'S WEBSITE. THE RECORD COMPANY INC 960 MASSACHUSETTS AVENUE BOSTON MA 02118 271238513 ACCESS TO MUSIC STUDIO MA 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0