2024-05-23T22:23:53-07:00 2022-12-31 990 2022-01-01 464916791 STUDIO SCHOOL OF MUSIC STUD 9729577150 1909 N Glenville Suite 100 Richardson TX 75081 Jason Erby Executive Director 9729577150 2024-01-18 Jason Erby 999009999 1 1 11 1 AAL2 2022 2023-04-26 12:10:37Z Jason Erby 10816 Ambergate Ln Frisco TX 75035 794401 0 X www.theschoolofmusic.org X 2014 TX At The Studio School of Music, our mission is to inspire and empower individuals through the transformative power of music education. We believe that everyone deserves access to high-quality musical instruction, regardless of their background or financial circumstances. Our aim is to cultivate a vibrant and inclusive community where students of all ages can discover, develop, and express their musical talents, fostering a lifelong love and appreciation for music. 7 6 7 25 0 0 560401 770401 18000 24000 0 0 0 0 578401 794401 0 0 0 0 378000 378000 0 0 45000 37012 37452 415012 415452 163389 378949 408964 787913 0 0 408964 787913 At The Studio School of Music, our mission is to inspire and empower individuals through the transformative power of music education. We believe that everyone deserves access to high-quality musical instruction, regardless of their background or financial circumstances. Our aim is to cultivate a vibrant and inclusive community where students of all ages can discover, develop, and express their musical talents, fostering a lifelong love and appreciation for music. 0 0 181648 0 0 Program Service Accomplishments We achieved huge success as our 75 students were fully trained this year and enabled them to become self made professionals in the music industry and now they are independent and supporting their own education and their families through generating incomes. 75567 0 0 Management and admissive staff have key roles in improving the organization growth and we achieved significant growth as compared to the previous year. 28676 0 0 Fundraising: Program staff were engaged to raise funds and we achieved huge success by arranging two events, 5 Year Anniversary Gala, and 8 year Anniversary Benefit Musical. This year we generated more funds as compare to prior years and their 15% time was used for raising funds for events. 0 0 0 285891 1 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 7 1 7 1 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 1 1 0 1 1 0 0 1 1 1 0 0 0 1 1 0 X Jason Erby 9729577150 10816 Ambergate Lane Frisco TX 75035 Jason Erby President 20 X 78000 0 0 Kelvin Harris Member 1 0 X 0 0 0 Kathryn McNorton Member 1 0 X 0 0 0 Jamie Kowlessar Member 1.00 0 X 0 0 0 Michelle Okyere Member 1 0 X 0 0 0 Jackie Amos Member 1 0 X 0 0 0 Johnathon McNorton Member 1 0 X 0 0 0 78000 0 0 0 0 0 0 0 0 77400 250000 0 100000 343001 0 770401 Contracted Services 900099 24000 24000 0 0 0 0 0 0 24000 0 0 0 0 250000 0 794401 24000 0 0 0 0 78000 78000 300000 255000 45000 1966 1966 27300 27300 1625 1625 Professional Fees 3000 0 3000 0 Internet & Phone 3561 0 3561 0 0 415452 285891 84561 45000 408964 787913 0 0 408964 787913 0 0 X 408964 787913 0 0 408964 787913 408964 787913 378949 0 0 0 0 0 X 0 0 0 X 337000 370650 560401 560401 1828452 278200 21067 18000 20000 337267 0 615200 391717 578401 580401 2165719 2165719 28000 31000 59000 0 28000 31000 0 0 59000 0 643200 422717 578401 580401 2224719 0.97348 0.96412 0.02652 0.03588 X Feed the Need Gala 110000 0 110000 0 0 0 0 0 0 AYP 140000 0 140000 0 0 0 0 0 0 0 250000 0 250000 0 0 0 0 0 0 0 250000 Form 990, Part VI, Section A, Line 6 The Organization has board members Form 990, Part VI, Section A, Line 7a The organization has board members Form 990, Part VI, Section B, Line 11b Form 990 was shared with board members before filing and all of the major decisions are passed in the meeting and regular meetings are being held during the year and the minutes are documented. Form 990, Part VI, Section B, Line 15 The organization has detailed policies in place regarding the governing of the organization including conflict of interest, policies related to the fixation fo director/key management compensation and followed strictly and the financial statements are being made available to everyone on their request for copies. Form 990, Part VI, Section C, Line 19 The documents are available upon request To Whom It May Concern, I am writing to respectfully request a waiver of the penalties and interest associated with the late filing of our tax return for the year 2022. Unfortunately, a series of unforeseen and challenging circumstances have delayed our filing process. We hope you will consider the context of our situation and grant us leniency. Circumstances Leading to the Delay Loss of Our CPA: Our long-time Certified Public Accountant, who had been diligently handling our tax matters for several years, tragically passed away unexpectedly in early 2023. His passing left us without the immediate expertise and guidance we relied upon to ensure timely and accurate filing of our tax returns. Transition to a New CPA Firm: In the aftermath of our CPA's death, we had to undertake the arduous task of finding a new CPA firm capable of managing our tax affairs. Given the sudden loss and the necessity to sift through various firms to find one that could handle our unique financial needs, this transition period took longer than anticipated. We eventually engaged a new CPA firm, but they were already overwhelmed with their existing client load, leading to further delays. Backlog at the New CPA Firm: The new CPA firm, despite their best efforts, experienced significant backlogs due to a high volume of clients seeking their services. This backlog was compounded by the increased workload resulting from the pandemic, as many businesses and individuals faced similar delays and complications. Consequently, our tax preparation process was pushed back as the firm worked through their extensive queue. Delayed Fundraiser Contributions and Receipts: As a non-profit organization, we heavily rely on contributions from fundraisers to support our activities and operations. In 2022, we held two major fundraising events that were successful in pledging significant contributions. However, the collection of these pledged amounts and the corresponding receipts took much longer than expected. The delay in receiving these funds and associated documentation further impeded our ability to compile a complete and accurate financial picture necessary for our tax filings. Efforts to Rectify the Situation We have been proactive in addressing the challenges presented by these circumstances. Following the passing of our CPA, we immediately began the search for a suitable replacement and engaged the new firm as soon as feasibly possible. We have maintained continuous communication with the new firm, providing them with all the required documents and information promptly to expedite the filing process. Additionally, we have made every effort to follow up with our donors and supporters to ensure the collection of outstanding contributions and receipts. Despite these efforts, the cumulative effect of these challenges has resulted in the unavoidable delay of our tax filing. Impact on Our Organization The late filing of our tax return has had a significant impact on our organization. As a non-profit dedicated to serving our community, we depend on the timely processing of our taxes to maintain our tax-exempt status and continue our operations without interruption. The penalties and interest associated with the late filing further strain our limited resources, diverting funds away from our core mission and activities. Request for Penalty Waiver In light of the above circumstances, we humbly request the IRS to consider our situation and grant a waiver of the penalties and interest associated with the late filing of our 2022 tax return. We believe that the extraordinary and unavoidable nature of these events justifies leniency in this instance. We are committed to ensuring that such delays do not occur in the future. We have put measures in place to streamline our financial and tax processes, including regular follow-ups with our new CPA firm and establishing a more robust internal system for managing pledges and contributions. Conclusion We sincerely regret any inconvenience caused by this delay and appreciate your understanding and consideration of our request. We value our compliance with IRS regulations and are taking all necessary steps to prevent future occurrences. Please feel free to contact us if you require any additional information or documentation to support our request. Thank you for your attention to this matter. Sincerely,