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Nonprofit · EIN 47-2155467

MUSICBREEDS INC

Tax-exempt (reinstated) · HEMPSTEAD, NY 11550

Financials

$101K$121K2022$299K$325K2023$405K$378K2024
Revenue Expenses · by fiscal year end
Financials of MUSICBREEDS INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$405,188$377,618$27,570$179,947$205,674-$25,727
December 31, 2023990 (amended)$299,282$324,730-$25,448$95,728$157,772-$62,044
December 31, 2022990-EZ$101,436$120,646-$19,210$65,809$98,991-$33,182
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$117,844
Program service revenue
$287,344
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$232,560
Salaries, compensation and benefits (total)
$243,576
Professional fundraising fees
$0
Legal fees
$10,516
Accounting fees
$8,279
Occupancy
$8,901
Travel
$7,053
Depreciation
$12,626
Program services (functional)
$260,823
Management and general (functional)
$92,301
Fundraising (functional)
$24,494

Balance sheet and other

Total assets, start of year
$95,728
Total assets, end of year
$179,947
Total liabilities, end of year
$205,674
Net assets, end of year
-$25,727
Land, buildings and equipment
$56,681
Gross receipts
$405,188
Employees
0
Volunteers
10
Year formed
2014
State of legal domicile
NY

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
Ian RifkinBoard Secretary
Institutional trustee
1$0
Deidra McBeanBoard Treasurer
Institutional trustee
1$0
Chris ReedInterim Board Chair
Institutional trustee
1$0
Herve TesslerBoard Member
Institutional trustee
1$0
Isaiah GriggExecutive Director & Founder
Officer
40$0
990 for the year ended December 31, 2023: 5 people
NameTitleHours / weekCompensation
Herve TesslerBoard Member
Trustee or director
5$0
Chris ReedInterim Board Chair
Trustee or director
5$0
Deidra McBeanBoard Treasurer
Trustee or director
5$0
Ian RifkinBoard Secretary
Trustee or director
5$0
Isaiah GriggExecutive Director & Founder
Officer
40$0
990-EZ for the year ended December 31, 2022: 4 people
NameTitleHours / weekCompensation
Isaiah GriggExecutive Director & Founder20$0
Herve TesslerTrustee3.5$0
Lindsay NieTrustee3.5$0
Candace KenyattaTrustee3.5$0

Address and contacts

Address (IRS master file)
100 MAIN STREET, HEMPSTEAD, NY 11550-2428
In care of
% ISAIAH GRIGG
Mailing address (990-N for 2020)
106 W 32nd St, New York NY 10001
Principal officer (990 for 2024)
Will Robalino, 5445 Caruth Haven Lane, 2621, Dallas, TX 75225
Principal officer (990-N for 2020)
Isaiah Grigg, 7 Sunset Drive, Huntington NY 11743
Signed the 990
Will Robalino, CFO
Phone
(917) 921-7719

Mission

MusicBreeds empowers young musicians, especially those from disadvantaged communities, by fostering their talent, providing entrepreneurial training, and offering mentorship for both professional and personal growth. Through our Rhythm Reach Initiative, we also offer sustainable, equitable, and diversified workforce development, equipping individuals with skills for success in today's job market. Our comprehensive curriculum, led by industry experts, includes training in Cyber Security, Electrical Engineering, Network Specialization, Project Management, and Sound Engineering. Our holistic approach nurtures confidence, resilience, and innovation, preparing individuals for success in music, life, and the workforce.

990 for the year ended December 31, 2024

Program accomplishments

  • Added major anchor partnership for community learning center
    Expenses $120,000 · revenue $136,000
  • Closed on a 2nd Partnership
    Expenses $45,000 · revenue $45,000
  • Recurring Business
    Expenses $95,823 · revenue $95,823

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
47-2155467
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2019
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$179,947
Income (IRS master file)
$405,188

Revocation and reinstatement

Exemption revoked
May 15, 2018
Posted by the IRS
August 13, 2018
Reinstated
Effective May 15, 2018

From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$405,188$377,618$179,947XML
990December 2023$299,282$324,730$95,728XML
990-EZDecember 2022$101,436$120,646$65,809XML
990-EZDecember 2021–––IRS
990-N for 2020
Officer: Isaiah Grigg
December 31, 2020≤ $50,000 receipts––e-Postcard
990-N for 2019
Officer: Isaiah Grigg
December 31, 2019≤ $50,000 receipts––e-Postcard

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 47-2155467).

Questions about MUSICBREEDS INC

What is the EIN of MUSICBREEDS INC?
The employer identification number (EIN) of MUSICBREEDS INC is 47-2155467.
Is MUSICBREEDS INC tax-exempt?
Yes. The IRS revoked its exemption on May 15, 2018 and reinstated it effective May 15, 2018.
Are donations to MUSICBREEDS INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does MUSICBREEDS INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of MUSICBREEDS INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did MUSICBREEDS INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of MUSICBREEDS INC?
The 990 for the year ended December 31, 2024 names Will Robalino.
Who are the officers and directors of MUSICBREEDS INC?
The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
How much revenue does MUSICBREEDS INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $405,188, expenses of $377,618 and total assets of $179,947 at year end.

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