Nonprofit · EIN 88-4197401
LYNN MUSIC FOUNDATION INC
Tax-exempt · LYNN, MA 01901
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $472,438 | $445,924 | $26,514 | $78,866 | $4,689 | $74,177 |
| December 31, 2023 | 990 | $257,919 | $212,767 | $45,152 | $50,106 | $2,443 | $47,663 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $168,896
- Program service revenue
- $303,539
- Investment income
- $3
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $132,638
- Other salaries and wages
- $25,388
- Salaries, compensation and benefits (total)
- $185,290
- Professional fundraising fees
- $0
- Occupancy
- $40,395
- Travel
- $1,942
- Depreciation
- $4,704
- Program services (functional)
- $239,210
- Management and general (functional)
- $159,042
- Fundraising (functional)
- $47,672
Balance sheet and other
- Total assets, start of year
- $50,106
- Total assets, end of year
- $78,866
- Total liabilities, end of year
- $4,689
- Net assets, end of year
- $74,177
- Land, buildings and equipment
- $30,203
- Net assets without donor restrictions
- $74,177
- Gross receipts
- $472,438
- Employees
- 6
- Volunteers
- 8
- Year formed
- 2022
- State of legal domicile
- MA
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.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Edwin Cabrera | President Trustee or director, Officer | 40 | $58,075 |
| Christopher Martin | Treasurer Trustee or director, Officer | 40 | $43,601 |
| Jose Luna | Clerk Trustee or director, Officer | 40 | $30,962 |
| David Simmons | Board Member Trustee or director | 1 | $0 |
| Brittany Thomas | Board Member Trustee or director | 1 | $0 |
| Brandon Mayes | Board Member Trustee or director | 1 | $0 |
| Jonathon Feinberg | Board Member Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Edwin Cabrera | President Trustee or director, Officer | 40 | $10,785 |
| Christopher Martin | Treasurer Trustee or director, Officer | 40 | $1,200 |
| David Simmons | Board Member Trustee or director | 1 | $0 |
| Michelle Richardson | Board Member Trustee or director | 1 | $0 |
| Brittany Thomas | Board Member Trustee or director | 1 | $0 |
| Brandon Mayes | Board Member Trustee or director | 1 | $0 |
| Jonathon Feinberg | Board Member Trustee or director | 1 | $0 |
| Jose Luna | Clerk Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 25 EXCHANGE ST, LYNN, MA 01901-1423
- Principal officer (990 for 2024)
- Chris Martin, 51 Butler Street, Salem, MA 01970
- Signed the 990
- Chris Martin, Treasurer
- Phone
- (781) 929-7597
- Website
- https://www.lynnmusic.org/
- Return prepared by
- Bridgepoint LLC dba CRR Advisors
Mission
The mission of Lynn Music Foundation Inc. is to provide resources to Lynn artists in music and the arts, helping them to reach their fullest potential by creating an environment for collaboration, and providing professional development opportunities for Lynn artists.
Program accomplishments
- The Foundation offers music education, performance opportunities and artist resources to the under-served music communities in Lynn.Expenses $239,210 · revenue $303,539
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 88-4197401
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2023
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A20)
- Assets (IRS master file)
- $78,866
- Income (IRS master file)
- $472,438
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $472,438 | $445,924 | $78,866 | XML |
| 990 | December 2023 | $257,919 | $212,767 | $50,106 | XML |
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 88-4197401).
Questions about LYNN MUSIC FOUNDATION INC
- What is the EIN of LYNN MUSIC FOUNDATION INC?
- The employer identification number (EIN) of LYNN MUSIC FOUNDATION INC is 88-4197401.
- Is LYNN MUSIC FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to LYNN MUSIC FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LYNN MUSIC FOUNDATION 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 LYNN MUSIC FOUNDATION 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 LYNN MUSIC FOUNDATION 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 LYNN MUSIC FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names Chris Martin.
- Who are the officers and directors of LYNN MUSIC FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 7 people; 3 received compensation from the organization, the highest $58,075 (Edwin Cabrera, President).
- How much revenue does LYNN MUSIC FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $472,438, expenses of $445,924 and total assets of $78,866 at year end.
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All nonprofits in LYNN · Massachusetts · Arts, culture and humanities