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Community Services Report 2013-2014

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Community Services Report 2013-2014 COMMUNITY SERVICES REPORT 2013-2014 YEAR IN REVIEW THE GRAMMY FOUNDATION EFFECT EVENTS & FUNDRAISING INITIATIVE FINANCES GRAMMY FOUNDATION SUPPORTERS CONNECT AND CONTACT YEAR IN REVIEW Each year, the GRAMMY Foundation brings our initiatives of music education, preservation and advancement to life through a variety of awards, events and programs. Through nationwide outreach efforts, we attract diverse participants — from young people and teachers applying for our GRAMMY in the Schools programs to archivists, librarians and scientific researchers submitting proposals to our GRAMMY Foundation Grant Program. This Community Services Report is a look back at our 2014 Fiscal Year (Aug. 1 — July 31) and an opportunity to reflect on our achievements, all thanks to the support of our generous donors. Join us as we review our year, by the numbers … YEAR IN REVIEW $228,500The total amount of cash grants through the $205,713 Kent Knappenberger,#1 In grants awarded to GRAMMY Signature Schools of Westfield Academy and program awarded to Central School in 7,000 15 97 Westfield, N.Y., was named The number of Recipients in the United States Public high schools in the first-ever nominations received to help facilitate a Music Educator Award for the second Annual wide range of research, 31 recipient during Music Educator Award archiving and States across the country. GRAMMY Week 2014. in 2015. preservation projects. 29,100 The number of students who benefited from their high school music program receiving a GRAMMY Signature Schools award. 32 $11,000Total amount of High school173 students from Top high school singers, The2,084 number of scholarships presented 31 states and four countries instrumentalists and journalists, high school students to the five winners were accepted to attend one of hailing from 30 cities and 12 states, nationwide who participated (all current law students) four summer GRAMMY Camps — who were selected to in one of 11 of the 2014 Entertainment 50 of these students received participate in the GRAMMY Camp — Law Initiative Writing partial or full scholarships 2014 GRAMMY Camp — Basic Training Competition. to attend. Jazz Session. day sessions. THE GRAMMY FOUNDATION EFFECT “Thank you for this gigantic gift you have given me and my students, and all music educators. We so desperately need your help and you are so generous in offering it. It’s humbling, touching, encouraging, and to those of us on the frontlines of music education, it’s a huge relief to know you’ve got our back.” — KENT KNAPPENBERGER 2014 MUSIC EDUCATOR AWARD RECIPIENT “We are extremely “This year we have grateful for the 152 incoming kids for the band GRAMMY Foundation’s wonderful and almost 100 incoming kids for contribution to this important project and the orchestra because of the recognition their help in ensuring the [Lecture] Archive’s we [got from the] National Signature long-term preservation and accessibility. School award. Winning [this] has Thank you, again, for recognizing the established a new standard for what significance of our project and for your we’re going to be and now we have kids support of this unique institution.” coming in who are really excited to — CONSTANCE EVANS DIRECTOR OF RESOURCE DEVELOPMENT AT be involved with the arts.” THE NEW YORK STUDIO SCHOOL — STEVE ACCIANI OF DRAWING, PAINTING DIRECTOR, INSTRUMENTAL MUSIC, & SCULPTING DIAMOND BAR HIGH SCHOOL EVENTS & FUNDRAISING INITIATIVES GRAMMY FOUNDATION LEGACY CONCERT A Song Is Born, the 16th Annual GRAMMY Foundation Legacy Concert, was held on Jan. 23, 2014 in Los Angeles. The theme to this year’s benefit concert, held to raise additional awareness of our preservation efforts, explored the history and evolution of songwriting and celebrated the various and invaluable contributions of songwriters behind the music — both legendary and contemporary ENTERTAINMENT LAW INITIATIVE LUNCHEON — and their impact on The 16th Annual Entertainment Law Initiative the American Luncheon & Scholarship Presentation was held cultural at the Beverly Hills Hotel on Jan. 24, 2014 with landscape. more than 500 attendees from the legal and Performers music industry. The afternoon featured a keynote included address by Robert Kyncl, head of content and GRAMMY winners business operations at YouTube. Don Passman, Steve Cropper, a partner in the law firm of Gang, Tyre, Ramer Kris Kristofferson and & Brown, received the 2014 ELI Service Award, Bonnie Raitt, among others. which was presented to him by GRAMMY winner Randy Newman. EVENTS & FUNDRAISING INITIATIVES GRAMMY CHARITY ONLINE AUCTIONS Throughout the year, the GRAMMY Foundation benefits from our GRAMMY Charity Online Auctions, which feature exclusive VIP experiences and memorabilia. Highlights included the launch of the first-ever Country Christmas auction, one-of-a-kind experiences such as a unique songwriting session with Kristian Bush of the GRAMMY–winning duo Sugarland, and concert and meet-and-greet GRAMMY IN THE SCHOOLS LIVE! experiences with Now in its fifth year, the GRAMMY In The teen sensations Schools Live! benefit concert was held Five Seconds on Jan. 22, 2014 during GRAMMY Week. Of Summer! The evening included performances by Our auctions members of GRAMMY Camp — Jazz also featured Session, GRAMMY-nominated comedienne exclusive music Tig Notaro and GRAMMY-winning band memorabilia Vampire Weekend. Proceeds from the signed by event supported the education efforts of artists such as theGRAMMY Foundation. Beyoncé, Daft Punk, Lady Gaga, Hunter Hayes, Bruno Mars, Pharrell Williams, Blake Shelton, Taylor Swift, and many more! EVENTS & FUNDRAISING INITIATIVES TEEN SUBSTANCE ABUSE AWARENESS THROUGH MUSIC CONTEST The GRAMMY Foundation, MusiCares and the Partnership at Drugfree.org invited the winners of the fourth annual Teens Make Music Contest to Los Angeles to attend a special backstage tour while artists rehearsed for the 56th Annual GRAMMY Awards, among other events and prizes. This year’s first, second, and third place winners hail from Massachusetts, California and Arkansas, respectively. The GRAMMY Foundation Statement of Financial Position FINANCIALS 2014 2013 2012 ASSETS: CURRENT ASSETS: Cash and Cash Equivalents $1,514,315 $1,707,496 $1,510,135 Accounts Receivable 176,542 153,605 197,152 Prepaids and Deposits 217,385 190,078 126,429 FUNCTIONAL EXPENSES 2014 TOTAL CURRENT ASSETS 1,908,242 2,051,179 1,833,716 ASSETS 2014 2013 NON CURRENT ASSETS: CURRENT ASSETS: Cash and Cash Equivalents $1,514,315 $1,707,496 Property and Equipment, Net 329 1,385 Accounts Receivable 176,542 153,605 Board-Designated Investments 4,856,302 4,436,666 3,938,716 Prepaids and Deposits ____________ 217,385 ____________ 190,078 Deferred Compensation Asset 76,404 59,324 39,864 TOTAL CURRENT ASSETS 1,908,242 2,051,179 ____________ ____________ TOTAL NONCURRENT ASSETS 4,932,706 4,496,319 3,979,965 NON CURRENT ASSETS: Property and Equipment, Net 329 TOTAL ASSETS $6,840,948 $6,547,498 $5,813,681 STATEMENT Board-Designated Investments 4,856,302 4,436,666 Deferred Compensation Asset 76,404 59,324 OF ACTIVITIES ____________ ____________ LIABILITIES AND NET ASSETS: 2013 & 2014 TOTAL NONCURRENT ASSETS 4,932,706 4,496,319 ____________ ____________ CURRENT LIABILITIES: TOTAL ASSETS ____________$6,840,948 ____________ $6,547,498 Accounts Payables and Accrued Liabilities $318,089 $333,659 $256,244 Deferred Revenue 679,062 626,206 426,743 Payable to Affiliate 385,906 780,455 828,021 LIABILITIES AND NET ASSETS FUNCTIONAL EXPENSES 2013 CURRENT LIABILITIES: TOTAL CURRENT LIABILITIES 1,383,057 1,740,320 1,511,008 Accounts Payables and Accrued Liabilities $318,089 $333,659 Deferred Revenue 679,062 626,206 Deferred Compensation Liability 76,404 59,324 39,864 Payable to Affiliate 385,906 780,455 - - - ____________ ____________ TOTAL LIABILITIES 1,459,461 1,799,644 1,550,872 TOTAL CURRENT LIABILITIES ____________ 1,383,057 ____________ 1,740,320 - - - DEFERRED COMPENSATION LIABILITY 76,404 59,324 NET ASSETS: ____________ ____________ Board Designated 4,856,303.00 4,436,666 3,938,716 TOTAL LIABILITIES ____________ 1,459,461 ____________ 1,799,644 Other Unrestricted Net Assets 209,932.00 (207,183) 117,870 Temporarily Restricted 315,252.00 518,371 206,223 NET ASSETS: Board Designated 4,856,303 4,436,666 TOTAL NET ASSETS 5,381,487 4,747,854 4,262,809 Other Unrestricted Net Assets 209,932 (207,183) - - - Temporarily Restricted 315,252 518,371 ____________ ____________ TOTAL LIABILITIES AND NET ASSETS $6,840,948 $6,547,498 $5,813,681 TOTAL NET ASSETS ____________ 5,381,487 ____________ 4,747,854 TOTAL LIABILITIES AND NET ASSETS ____________$6,840,948 ____________ $6,547,498 = = = ____________ ____________ FINANCIALS REVENUES 2014 REVENUES 2014 2013 Contributions/Sponsorships 2,038,065 2,263,291 Support from The Recording Academy 2,330,400 1,889,272 Grants 102,500 90,500 Project Income 891,911 590,868 Investment Income 448,240 523,656 STATEMENT In-Kind Donations ____________69,130 ____________ 116,641 OF ACTIVITIES TOTAL REVENUES ____________$5,880,246 ____________ $5,474,228 2013 & 2014 ____________ ____________ EXPENSES Program Services $3,453,004 $3,388,383 REVENUES 2013 Management and General 659,875 640,796 Fundraising and Special Events 1,064,604 843,363 In Kind Expenses 69,130 116,641 ____________ ____________ TOTAL EXPENSES ____________ 5,246,613 ____________ 4,989,183 NET INCOME (LOSS) $633,633 $485,045 ____________ ____________ Financial information is excerpted from The GRAMMY Foundation audited reports. Functional Expenses information is as reported on the IRS 990 filings. SUPPORTERS THE SUPPORT THAT THE GRAMMY FOUNDATION RECEIVES FROM CORPORATIONS, FOUNDATIONS AND INDIVIDUALS IS INVALUABLE AND FUNDAMENTAL TO THE CONTINUED SUCCESS OF OUR MANY PROGRAMS. THIS LIST ACKNOWLEDGES AND THANKS THESE SUPPORTERS. $1,000,000 AND ABOVE China Soong Ching Ling Pryor Cashman LLP Robert and Jill Berg Flourish Foundation Foundation The National Academy Raymond James Rachna Bhasin Fox Rothschild LLP The Coca-Cola Company of Recording Arts & RBC Foundation USA Jonathan Blaufarb Gretchen D.
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