Sound Recording Special Payments Fund
Sound Recording Special Payments Fund shows strong financial growth and zero officer compensation over four years.
EIN: 136180704 · New York, NY · NTEE: S46 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $22.8M |
| Total Expenses | $13.3M |
| Program Spending | 95% |
| CEO/Top Officer Pay | $22.8 |
| Net Assets | $10.2M |
| Transparency Score | 90/100 |
Is Sound Recording Special Payments Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sound Recording Special Payments Fund directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Sound Recording Special Payments Fund
Sound Recording Special Payments Fund (EIN: 136180704) is a nonprofit organization based in New York, NY, classified under NTEE code S46. The organization reported total revenue of $22.8M and total assets of $23.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sound Recording Special Payments Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sound Recording Special Payments Fund is a large nonprofit that has been operating for 6 years, with 4 years of IRS 990 filings on record (2020–2023). Revenue has grown at a compound annual rate of 266.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $14.2M |
| Total Expenses | $13.3M |
| Surplus / Deficit | +$925K |
| Total Assets | $21.7M |
| Total Liabilities | $11.4M |
| Net Assets | $10.2M |
| Operating Margin | 6.5% |
| Debt-to-Asset Ratio | 52.7% |
| Months of Reserves | 19.5 months |
Financial Health Grade: A
In 2023, Sound Recording Special Payments Fund reported a surplus of $925K with revenue exceeding expenses, holds 19.5 months of operating reserves (strong position), has a debt-to-asset ratio of 52.7% (high leverage).
Financial Trends
Over 4 years of filings (2020–2023), Sound Recording Special Payments Fund's revenue has grown at a compound annual growth rate (CAGR) of 266.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.3% | +14.0% | +7.9% |
| 2022 | +19.5% | +16.5% | +33.8% |
| 2021 | +3664.3% | +2585.3% | +11.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2020 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Sound Recording Special Payments Fund with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Sound Recording Special Payments Fund allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $925K, with revenue exceeding expenses.
- Debt-to-asset ratio: 52.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization of this size with $22.8 million in latest revenue and $23 million in assets.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Sound Recording Special Payments Fund's IRS 990 filings:
- Unusually low (0%) reported officer compensation for an organization of this size, which might warrant further investigation into how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Sound Recording Special Payments Fund:
- Strong and consistent revenue growth over four periods, from $289,607 in 2020 to $14,238,259 in 2023.
- Healthy increase in assets, reaching $21,669,111 in 2023, indicating financial stability.
- Zero reported officer compensation across all filings, suggesting a high degree of financial efficiency and dedication of funds to the mission.
- High program spending ratio, indicating efficient use of funds directly for its mission.
Frequently Asked Questions about Sound Recording Special Payments Fund
Is Sound Recording Special Payments Fund a legitimate charity?
Sound Recording Special Payments Fund (EIN: 136180704) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 4 years of IRS 990 filings on record. Total revenue: $22.8M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Sound Recording Special Payments Fund spend its money?
Sound Recording Special Payments Fund directs 95% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Sound Recording Special Payments Fund tax-deductible?
Sound Recording Special Payments Fund is registered as a tax-exempt nonprofit (EIN: 136180704). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Sound Recording Special Payments Fund CEO make?
Sound Recording Special Payments Fund's highest-compensated officer earns $22.8 annually. The organization reported $22.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Sound Recording Special Payments Fund compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Sound Recording Special Payments Fund is above average for NTEE category S46 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Sound Recording Special Payments Fund located?
Sound Recording Special Payments Fund is headquartered in New York, New York and files with the IRS under EIN 136180704. It is classified under NTEE code S46.
How many years of IRS 990 filings does Sound Recording Special Payments Fund have?
Sound Recording Special Payments Fund has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $22.8M in total revenue.
Is Sound Recording Special Payments Fund a good charity?
Based on the provided data, the Sound Recording Special Payments Fund appears to be a very good charity. It demonstrates strong financial growth, efficient program spending, and exceptional transparency regarding executive compensation (0% reported).
How has the organization's revenue changed over time?
The organization's revenue has shown significant growth, increasing from $289,607 in 2020 to $14,238,259 in 2023, indicating a substantial increase in its financial capacity.
What is the trend in the organization's assets?
Assets have consistently grown, from $13,446,296 in 2020 to $21,669,111 in 2023, suggesting healthy financial accumulation and stability.
Filing History
IRS 990 filing history for Sound Recording Special Payments Fund showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2020–2023), Sound Recording Special Payments Fund's revenue has grown by 4816.4%, moving from $290K to $14.2M. Total assets increased by 61.2% over the same period, from $13.4M to $21.7M. Total functional expenses rose by 3466.3%, from $373K to $13.3M. In its most recent filing year (2023), Sound Recording Special Payments Fund reported a surplus of $925K, with revenue exceeding expenses. The organization holds $11.4M in liabilities against $21.7M in assets (debt-to-asset ratio: 52.7%), resulting in net assets of $10.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $14.2M | $13.3M | $21.7M | $11.4M | — | View 990 |
| 2022 | $13.0M | $11.7M | $20.1M | $10.7M | — | View 990 |
| 2021 | $10.9M | $10.0M | $15.0M | $6.8M | — | View 990 |
| 2020 | $290K | $373K | $13.4M | $6.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $14.2M, expenses of $13.3M, and assets of $21.7M (revenue +9.3% year-over-year).
- 2022: Revenue of $13.0M, expenses of $11.7M, and assets of $20.1M (revenue +19.5% year-over-year).
- 2021: Revenue of $10.9M, expenses of $10.0M, and assets of $15.0M (revenue +3664.3% year-over-year).
- 2020: Revenue of $290K, expenses of $373K, and assets of $13.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sound Recording Special Payments Fund:
Data Sources and Methodology
This transparency report for Sound Recording Special Payments Fund 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.