Asbury Park Music Foundation Inc
EIN: 452675974 · Asbury Park, NJ · NTEE: A68
| Metric | Value |
|---|---|
| Total Revenue | $591K |
| Total Expenses | $964K |
| Net Assets | $217K |
Is Asbury Park Music Foundation Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Asbury Park Music Foundation Inc
Asbury Park Music Foundation Inc (EIN: 452675974) is a nonprofit organization based in Asbury Park, NJ, classified under NTEE code A68. The organization reported total revenue of $591K and total assets of $323K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Asbury Park Music Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Asbury Park Music Foundation Inc is a small nonprofit that has been operating for 15 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 23.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $830K |
| Total Expenses | $964K |
| Surplus / Deficit | $-133,901 |
| Total Assets | $293K |
| Total Liabilities | $77K |
| Net Assets | $217K |
| Operating Margin | -16.1% |
| Debt-to-Asset Ratio | 26.1% |
| Months of Reserves | 3.7 months |
Financial Health Grade: B
In 2024, Asbury Park Music Foundation Inc reported a deficit of $134K with expenses exceeding revenue, holds 3.7 months of operating reserves (adequate), has a debt-to-asset ratio of 26.1% (moderate leverage).
Financial Trends
Over 13 years of filings (2012–2024), Asbury Park Music Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 23.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -22.0% | -0.4% | -22.8% |
| 2023 | +76.4% | +48.6% | +43.6% |
| 2022 | -3.2% | +6.6% | -23.9% |
| 2021 | +14.3% | -18.2% | +12.3% |
| 2020 | -30.2% | +27.8% | -39.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2011 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Asbury Park Music Foundation Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Asbury Park Music Foundation Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $134K, with expenses exceeding revenue.
- Debt-to-asset ratio: 26.1%.
Frequently Asked Questions about Asbury Park Music Foundation Inc
Is Asbury Park Music Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Asbury Park Music Foundation Inc (EIN: 452675974) insufficient data. 0 red flags identified, 0 strengths noted.
How does Asbury Park Music Foundation Inc spend its money?
Detailed spending breakdown data is not yet available for Asbury Park Music Foundation Inc. Check back for updated IRS 990 analysis.
Are donations to Asbury Park Music Foundation Inc tax-deductible?
Asbury Park Music Foundation Inc is registered as a tax-exempt nonprofit (EIN: 452675974). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Asbury Park Music Foundation Inc located?
Asbury Park Music Foundation Inc is headquartered in Asbury Park, New Jersey and files with the IRS under EIN 452675974. It is classified under NTEE code A68.
How many years of IRS 990 filings does Asbury Park Music Foundation Inc have?
Asbury Park Music Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $591K in total revenue.
Filing History
IRS 990 filing history for Asbury Park Music Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Asbury Park Music Foundation Inc's revenue has grown by 1188%, moving from $64K to $830K. Total assets increased by 1433.1% over the same period, from $19K to $293K. Total functional expenses rose by 2027.5%, from $45K to $964K. In its most recent filing year (2024), Asbury Park Music Foundation Inc reported a deficit of $134K, with expenses exceeding revenue. The organization holds $77K in liabilities against $293K in assets (debt-to-asset ratio: 26.1%), resulting in net assets of $217K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $830K | $964K | $293K | $77K | — | — |
| 2023 | $1.1M | $967K | $380K | $29K | — | View 990 |
| 2022 | $603K | $651K | $265K | $11K | — | View 990 |
| 2021 | $623K | $610K | $347K | $47K | — | — |
| 2020 | $545K | $746K | $310K | $22K | — | View 990 |
| 2019 | $781K | $584K | $512K | $23K | — | View 990 |
| 2018 | $486K | $392K | $327K | $36K | — | View 990 |
| 2017 | $372K | $312K | $201K | $4K | — | View 990 |
| 2016 | $421K | $315K | $141K | $4K | — | View 990 |
| 2015 | $297K | $320K | $34K | $3K | — | View 990 |
| 2014 | $126K | $139K | $53K | $23 | — | View 990 |
| 2013 | $115K | $68K | $165K | $98K | — | View 990 |
| 2012 | $64K | $45K | $19K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $830K, expenses of $964K, and assets of $293K (revenue -22.0% year-over-year).
- 2023: Revenue of $1.1M, expenses of $967K, and assets of $380K (revenue +76.4% year-over-year).
- 2022: Revenue of $603K, expenses of $651K, and assets of $265K (revenue -3.2% year-over-year).
- 2021: Revenue of $623K, expenses of $610K, and assets of $347K (revenue +14.3% year-over-year).
- 2020: Revenue of $545K, expenses of $746K, and assets of $310K (revenue -30.2% year-over-year).
- 2019: Revenue of $781K, expenses of $584K, and assets of $512K (revenue +60.8% year-over-year).
- 2018: Revenue of $486K, expenses of $392K, and assets of $327K (revenue +30.4% year-over-year).
- 2017: Revenue of $372K, expenses of $312K, and assets of $201K (revenue -11.6% year-over-year).
- 2016: Revenue of $421K, expenses of $315K, and assets of $141K (revenue +41.6% year-over-year).
- 2015: Revenue of $297K, expenses of $320K, and assets of $34K (revenue +135.5% year-over-year).
- 2014: Revenue of $126K, expenses of $139K, and assets of $53K (revenue +9.6% year-over-year).
- 2013: Revenue of $115K, expenses of $68K, and assets of $165K (revenue +78.7% year-over-year).
- 2012: Revenue of $64K, expenses of $45K, and assets of $19K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Asbury Park Music Foundation Inc:
Data Sources and Methodology
This transparency report for Asbury Park Music Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.