2024-04-25T10:59:46-05:00 2023-06-30 872525370 CITRIN COOPERMAN ADVISORS LLC 500 EXCHANGE STREET SUITE 9-100 PROVIDENCE RI 02903 990 2022-07-01 271238513 THE RECORD COMPANY INC RECO 6177650155 960 MASSACHUSETTS AVENUE BOSTON MA 02118 ANDREW SCHULERT TREASURER OF THE BOARD OF DIRECTORS 6177650155 2024-04-24 1 ANDREW SCHULERT 999009999 1 AMBER BICHUN P01718349 4014214800 2024-04-24 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ANDREW SCHULERT 960 MASSACHUSETTS AVENUE BOSTON MA 02118 1496044 0 X WWW.THERECORDCO.ORG X 2009 MA TO REMOVE THE TECHNICAL AND SOCIAL BARRIERS BETWEEN BOSTON'S MUSIC MAKERS AND THEIR CREATIVE VISIONS THROUGH TRULY AFFORDABLE MUSIC WORKSPACE AND PROFESSIONAL DEVELOPMENT PROGRAMS. 8 7 22 1 0 0 1889935 696220 389064 763906 29417 29418 708411 6500 3016827 1496044 11828 68940 0 0 587131 870806 0 0 122472 816284 1560765 1415243 2500511 1601584 -1004467 4702534 12516063 362437 9180433 4340097 3335630 TO REMOVE THE TECHNICAL AND SOCIAL BARRIERS BETWEEN BOSTON'S MUSIC MAKERS AND THEIR CREATIVE VISIONS THROUGH TRULY AFFORDABLE MUSIC WORKSPACE AND PROFESSIONAL DEVELOPMENT PROGRAMS. 0 0 1896502 68940 770406 THE RECORD COMPANY ("TRC") WAS FORMED TO REMOVE TECHNICAL AND SOCIAL BARRIERS BETWEEN BOSTON MUSIC MAKERS AND THEIR CREATIVE VISIONS BY PROVIDING AN AFFORDABLE COMMUNITY WORKSPACE AND EQUITABLE PROFESSIONAL DEVELOPMENT PROGRAMS. ADDITIONALLY, TRC HAS HELPED ARTISTS GROW AND DEVELOP THEIR ARTISTRY THROUGH PROFESSIONAL COMMUNITY DEVELOPMENT PROJECTS. 1896502 1 1 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 32 0 1 22 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X INSOURCE SERVICES INC 7812351490 148 LINDEN ST WELLESLEY MA 02482 MATTHEW S MCARTHUR EXECUTIVE DIRECTOR 39.00 1.00 X X 90000 0 4576 DOUG ARSHAM DIRECTOR 1.00 X 0 0 0 JOHN ESCOBAR DIRECTOR 1.00 1.00 X 0 0 0 MARK ETHIER BOARD AND ADVANCEMENT COMMITTE CHAIR 1.00 X X 0 0 0 ZENA LUM DIRECTOR 1.00 X 0 0 0 RACHEL JORDAN CHAIR 1.00 X X 0 0 0 DAVID MASH GOVERNANCE COMMITTEE CHAIR 1.00 X 0 0 0 ANDREW SCHULERT TREASURER 1.00 1.00 X X 0 0 0 90000 0 4576 0 0 0 0 0 39040 657180 696220 STUDIO RENTAL 711190 763906 763906 763906 29418 29418 MISCELLANEOUS INCOME 900999 6500 6500 6500 1496044 770406 0 29418 X 68940 68940 94576 31525 31526 31525 678327 607250 52846 18231 32268 28359 2734 1175 65635 54514 7065 4056 267468 154127 113341 25378 9217 15008 1153 69170 10542 58528 100 58445 43408 14233 804 995715 837422 94465 63828 31704 2486 29115 103 3756 3756 63603 20398 43205 23359 19646 2216 1497 PROVISION FOR LOSSES ON 700 700 21467 8668 12799 2500511 1896502 481537 122472 1368241 217633 5560 5561 95751 132932 12884 39054 2941630 2941630 2948 5790 26360 32083 762736 144870 170057 617866 79103 8523514 4702534 12516063 149854 162003 9217 19005 203366 8999425 362437 9180433 X 3474644 3006840 865453 328790 4340097 3335630 4702534 12516063 -1004467 0 X X 0 1 X 1 0 X 1027217 1882015 2546621 1889935 696220 8042008 1027217 1882015 2546621 1889935 696220 8042008 8042008 16 14791 29417 29417 29418 103059 300 2170 62694 65164 8210231 0.97950 0.95980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 481156 32996 448160 281580 111874 169706 617866 SECURITY DEPOSITS 79103 RIGHT OF USE ASSET 8444411 8523514 EIDL LOAN 150000 INTERCOMPANY DUE TO/FROM 8412 INTERCOMPANY DUE TO/FROM- GRANT PAYABLE 62450 LEASE LIABILITY 8778563 8999425 X PART X, LINE 2: TRC IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. TRC IS SUBJECT TO UNRELATED BUSINESS INCOME TAX ("UBIT"), IF APPLICABLE. IN ACCORDANCE WITH FASB ASC 740, INCOME TAXES, TRC APPLIES THE "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION AND DERECOGNITION OF TAX POSITIONS FOR ITS COMBINED FINANCIAL STATEMENTS. MANAGEMENT HAS EVALUATED TRC'S TAX POSITIONS AND HAS CONCLUDED THAT THERE WERE NO UNCERTAIN TAX POSITIONS THAT QUALIFIED FOR EITHER RECOGNITION OR DISCLOSURE. 1 CASH GRANT 33 68940 PART I, LINE 2: TRC PARTICIPATED IN A GRANT PROGRAM WITH THE CITY OF BOSTON'S SOAR PROGRAM TO ENGAGE GANG-INVOLVED YOUTH AND YOUNG ADULTS IN THE CITY. PARTICIPANTS WERE IDENTIFIED BY THE CITY AND RECEIVED STUDIO TIME AND DIRECT GRANT PAYMENTS TO SUPPORT THEIR MUSIC MAKING EFFORTS. 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 B, LINE 15 THE EXECUTIVE DIRECTOR'S COMPENSATION IS REVIEWED BY THE FINANCE COMMITTEE AND PRESENTED TO THE FULL BOARD OF DIRECTORS FOR REVIEW AND APPROVAL, WHICH ARE DOCUMENTED IN MEETING MINUTES. TOTAL COMPENSATION IS COMPARED TO OTHER NONPROFITS ORGANIZATIONS OF SIMILAR SIZE, MISSION AND GEOGRAPHY. KEY EMPLOYEES' COMPENSATION IS REVIEWED ANNUALLY IN RELATION TO OTHER SIMILAR NONPROFIT POSITIONS BY THE EXECUTIVE DIRECTOR IN CONSULTATION WITH THE FINANCE COMMITTEE. 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. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES AND CONSULTANTS: PROGRAM SERVICE EXPENSES 154,127. MANAGEMENT AND GENERAL EXPENSES 113,341. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 267,468. FORM 990, PART XII, LINE 2C THERE HAVE BEEN NO CHANGES FROM THE PRIOR YEAR IN THE METHODS USED BY THE COMMITTEE RESPONSIBLE FOR THE AUDIT OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. FRIENDS OF THE RECORD COMPANY INC 960 MASSACHUSETTS AVENUE BOSTON MA 02118 841799483 SUPPORTING ORGANIZATION MA 501(C)(3) LINE 12A, I THE RECORD COMPANY INC 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 FRIENDS OF THE RECORD COMPANY INC J 664970 FMV