SOUNDEXCHANGE INC: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- SOUNDEXCHANGE INC (EIN 76-0742496)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-11-14
- IRS object ID
- 201213199349304601
- Schema version
- 2011v1.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-11-14T13:53:50-06:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 135381590 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BDO USA LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7101 WISCONSIN AVE SUITE 800 | AddressLine1 |
| City | BETHESDA | City |
| State | MD | State |
| ZIP Code | 208144827 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 760742496 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUNDEXCHANGE INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | SOUN | NameControl |
| Phone | 2026405858 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 733 10TH STREET NW 10TH FLOOR | AddressLine1 |
| City | WASHINGTON | City |
| State | DC | State |
| ZIP Code | 20001 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ANJULA SINGH | Name |
| Title | SVP FINANCE | Title |
| Phone | 2026405858 | Phone |
| Date Signed | 2012-11-14 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JOYCE M UNDERWOOD | Name |
| PTIN | P00022361 | PTIN |
| Phone | 3016544900 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | X | AddressChange |
| Name Of Principal Officer Person | MICHAEL J HUPPE | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 733 10TH STREET NW 10TH FLOOR | AddressLine1 |
| City | WASHINGTON | City |
| State | DC | State |
| ZIP Code | 20001 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 20984008 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.SOUNDEXCHANGE.COM | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2003 | YearFormation |
| State Legal Domicile | DE | StateLegalDomicile |
| Activity Or Mission Description | SOUNDEXCHANGE'S PRIMARY EXEMPT PURPOSE IS TO COLLECT AND DISTRIBUTE ROYALTIES FOR SOUND RECORDINGS COPYRIGHT OWNERS, FEATURED ARTISTS, AND NON-FEATURED ARTISTS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 18 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 18 | NbrIndependentVotingMembers |
| Total Nbr Employees | 96 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 20090413 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 20386274 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 868179 | InvestmentIncomePriorYear |
| Investment Income Current Year | 597734 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 20958592 | TotalRevenuePriorYear |
| Total Revenue Current Year | 20984008 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 6014939 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 6408620 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 14906077 | OtherExpensePriorYear |
| Other Expenses Current Year | 14626582 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 20921016 | TotalExpensesPriorYear |
| Total Expenses Current Year | 21035202 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 37576 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -51194 | RevenuesLessExpensesCY |
| Total Assets BOY | 305842704 | TotalAssetsBOY |
| Total Assets EOY | 369449828 | TotalAssetsEOY |
| Total Liabilities BOY | 304786523 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 368393647 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 1056181 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 1056181 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | SEE SCHEDULE O | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | SOUNDEXCHANGE HELPS THE MUSIC AND CREATIVE COMMUNITY THRIVE IN THE DIGITAL AGE. WE'RE THE PREMIER DIGITAL PERFORMANCE RIGHTS ORGANIZATION IN THE WORLD, WITH A MISSION TO SUPPORT, PROTECT AND PROPEL THE MUSIC INDUSTRY FORWARD. DURING FY2011, SOUNDEXCHANGE REPRESENTED THE INTERESTS OF ALL SOUND RECORDING COPYRIGHT OWNERS AND PERFORMERS ON WHOSE BEHALF IT IS AUTHORIZED BY THE U.S. COPYRIGHT OFFICE TO COLLECT AND DISTRIBUTE ROYALTIES PAID UNDER THE STATUTORY LICENSES SET FORTH IN SECTIONS 112 AND 114 OF TITLE 17 OF THE UNITED STATES CODE. AS THE SOLE ENTITY DESIGNATED BY THE U.S. COPYRIGHT OFFICE TO RECEIVE PAYMENTS FROM SERVICES OPERATING UNDER STATUTORY LICENSE, SOUNDEXCHANGE REPRESENTS THE INTERESTS OF ALL COPYRIGHT OWNERS AND PERFORMERS WHOSE WORKS HAVE BEEN PERFORMED. SOUNDEXCHANGE COLLECTED ROYALTIES FROM VARIOUS CLASSES OF LICENSEES, INCLUDING PRE-EXISTING SUBSCRIPTION SERVICES, PRE-EXISTING SATELLITE DIGITAL AUDIO RADIO SERVICES, INTERNET-ONLY WEBCASTERS, BROADCAST SIMULCASTERS, AND NONCOMMERCIAL ENTITIES. SOUNDEXCHANGE COLLECTED ROYALTIES FROM OVER 1,000 LICENSEES AND DISTRIBUTED ROYALTIES TO OVER 22,000 SOUND RECORDING COPYRIGHT OWNERS AND FEATURED ARTISTS. SOUNDEXCHANGE ALSO DISTRIBUTED ROYALTIES TO THE INDEPENDENT ADMINISTRATORS. | Description |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 1 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 16272 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 96 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 18 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 18 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 0 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 0 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 0 | WhistleblowerPolicy |
| Document Retention Policy | 0 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | DC | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | ANJULA SINGH | NamePerson |
| Telephone Number | 2026405870 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 733 10TH STREET NW 10TH FLOOR | AddressLine1 |
| City | WASHINGTON | City |
| State | DC | State |
| ZIP Code | 20001 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (30 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|
| ALASDAIR MCMULLAN | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| TUCKER MCCRADY | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| JEFF HARLESTON | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| ANDREA FINKELSTEIN | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| STEVE MARKS | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| TOM SILVERMAN | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| DICK HUEY | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| RICHARD BENGLOFF | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| CARY SHERMAN | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| PATRICIA POLACH | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| KIM ROBERTS-HEDGPETH | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| PATRICK RAINS | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| KENDALL MINTER | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| MARTHA REEVES | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| PERRY RESNICK | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| JAY L COOPER | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| WALTER F MCDONOUGH | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| MICHAEL HAUSMAN | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| MITCH BAINWOL | ||||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |||
| MICHAEL J HUPPE | ||||||||
| PRESIDENT | 40.00 | 600862 | 0 | 16723 | X | |||
| JONATHAN BENDER | ||||||||
| CHIEF OPERATING OFFICER | 40.00 | 86836 | 0 | 75 | X | |||
| COLIN RUSHING | ||||||||
| GENERAL COUNSEL | 40.00 | 236351 | 0 | 17455 | X | |||
| ANJULA SINGH | ||||||||
| SVP OF FINANCE AND ADMIN | 40.00 | 226672 | 0 | 10822 | X | |||
| RYAN LEHNING | ||||||||
| SENIOR COUNSEL | 40.00 | 145273 | 0 | 11897 | X | |||
| BRYAN CALHOUN | ||||||||
| VP OF EXTERNAL AFFAIRS | 40.00 | 194386 | 0 | 9610 | X | |||
| BRADLEY PRENDERGAST | ||||||||
| COUNSEL | 40.00 | 165210 | 0 | 9968 | X | |||
| CHRIS DEAN | ||||||||
| DIRECTOR, INFORMATION TECHNOLOGY | 40.00 | 159327 | 0 | 12377 | X | |||
| WAJAHAT QURESHI | ||||||||
| DATABASE ADMINISTRATOR | 40.00 | 156123 | 0 | 2961 | X | |||
| JOHN SIMSON | ||||||||
| FORMER EXECUTIVE DIRECTOR | 40.00 | 317401 | 0 | 0 | X | |||
| BARRIE KESSLER | ||||||||
| FORMER CHIEF OPERATING OFFICER | 40.00 | 312312 | 0 | 0 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2600753 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 91888 | TotalOtherCompensation |
| Number Individuals GT100 K | 10 | NumberIndividualsGT100K |
| Formers Listed | 1 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ACUMEN SOLUTIONS INC | |||||
| 1660 INTERNATIONAL DR | MCLEAN | VA | 22102 | IT CONSULTING | 2236887 |
| JENNER & BLOCK LLP | |||||
| 353 N CLARK ST | CHICAGO | IL | 60654 | LEGAL | 748047 |
| RANDSTAD | |||||
| PO BOX 7247-6655 | PHILADELPHIA | PA | 19170 | TEMPORARY HELP | 706696 |
| HIRESTRATEGY | |||||
| 1875 EXPLORER STREET SUITE 520 | RESTON | VA | 20190 | TEMPORARY HELP | 452302 |
| COGNIZANT TECHNOLOGY SOLUTIONS | |||||
| 24721 NETWORK PLACE | CHICAGO | IL | 60673 | IT CONSULTING | 432395 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 11 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| ROYALTY COLLECTION | 900099 | 19793281 | 19793281 |
| COST RECOVERY FEES | 900099 | 592993 | 592993 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 20386274 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 597734 | TotalRevenueColumn |
| Exclusion | $597,734 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 20984008 | TotalRevenueColumn |
| Related Or Exempt Function Income | 20386274 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $597,734 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1195797 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4246339 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 119004 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 484949 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 362531 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 431714 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 113427 | Total |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 180630 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 256880 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3281258 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 339764 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2442578 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1856599 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 343000 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 89750 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 14537 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4202352 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 100304 | Total |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 973789 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 21035202 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 100 | BOY |
| EOY | 100 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 55335181 | BOY |
| EOY | 75976759 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 244380 | BOY |
| EOY | 539633 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 12313129 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 8430322 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3314740 | BOY |
| EOY | 3882807 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 238668084 | BOY |
| EOY | 282306935 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8280219 | BOY |
| EOY | 6743594 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 305842704 | BOY |
| EOY | 369449828 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2626591 | BOY |
| EOY | 4250835 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 734686 | BOY |
| EOY | 715814 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 301425246 | BOY |
| EOY | 363426998 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 304786523 | BOY |
| EOY | 368393647 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1056181 | BOY |
| EOY | 1056181 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1056181 | BOY |
| EOY | 1056181 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 305842704 | BOY |
| EOY | 369449828 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -51194 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 51194 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 0 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nondeduct | 1 | SubstantiallyAllDuesNondeduct |
| Only In House Lobbying | 0 | OnlyInHouseLobbying |
| Agree To Carryover Prior Year | 0 | AgreeToCarryoverPriorYear |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1313565 | OtherCostOrOtherBasis |
| Depreciation | 544800 | Depreciation |
| Book Value | 768765 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1251572 | OtherCostOrOtherBasis |
| Depreciation | 395282 | Depreciation |
| Book Value | 856290 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 9747992 | OtherCostOrOtherBasis |
| Depreciation | 7490240 | Depreciation |
| Book Value | 2257752 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 3882807 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| CAPITAL LEASES PAYABLE | $394,159 |
| FUNDS HELD IN AGENCY (SEE PART XIV) | $363,032,839 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 363426998 | TotalOfAmounts |
| Total Revenue | 20984008 | TotalRevenue |
| Total Expenses | 21035202 | TotalExpenses |
| Excess Or Deficit For Year | -51194 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 51194 | NetUnrealizedGLOnInvestments |
| Total Adjustments | 51194 | TotalAdjustments |
| Excess Or Deficit Per FS | 0 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 20727128 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 20727128 | RevenueSubtotal |
| Investment Expenses Not Included | 256880 | InvestmentExpensesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 256880 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 20984008 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 20727128 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | -51194 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | -51194 | ExpensesNotRptdF990 |
| Expenses Subtotal | 20778322 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 256880 | InvestmentExpensesNotIncluded2 |
| Expenses Not Rptd On Fin Stmt | 256880 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 21035202 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | UNDER ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AN ORGANIZATION MUST RECOGNIZE INCOME TAX BENEFITS FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE ORGANIZATION ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND ALL STATE JURISDICTIONS WHERE IT OPERATES. THE ORGANIZATION BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON THE ORGANIZATION'S FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS. ACCORDINGLY, THE ORGANIZATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2011 AND 2010, RESPECTIVELY. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY OPEN TAX PERIODS. THE ORGANIZATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2008. |
| PART XIII, LINE 2D - OTHER ADJUSTMENTS: | NET UNREALIZED (GAIN) LOSS ON INVESTMENTS -51,194. | |
| PART X - FUNDS HELD IN AGENCY ROYALTIES PAYMENTS ARE DUE 45 DAYS AFTER THE END OF THE MONTH. A RECEIVABLE AND CORRESPONDING LIABILITY ARE RECORDED FOR ROYALTIES RELATING TO 2011, BUT COLLECTED AFTER DECEMBER 31, 2011. THE FUNDS HELD IN AGENCY BALANCE OF $363,032,839 AT DECEMBER 31, 2011 INCLUDED A $68.7 MILLION ACCRUAL FOR SUCH ROYALTIES. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 1 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (10 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MICHAEL J HUPPE | |||||||||||||
| 525000 | 0 | 75000 | 0 | 862 | 0 | 11750 | 0 | 4973 | 0 | 617585 | 0 | 0 | 0 |
| COLIN RUSHING | |||||||||||||
| 215664 | 0 | 20000 | 0 | 687 | 0 | 10323 | 0 | 7132 | 0 | 253806 | 0 | 0 | 0 |
| ANJULA SINGH | |||||||||||||
| 201035 | 0 | 25000 | 0 | 637 | 0 | 9718 | 0 | 1104 | 0 | 237494 | 0 | 0 | 0 |
| RYAN LEHNING | |||||||||||||
| 136994 | 0 | 7500 | 0 | 779 | 0 | 6850 | 0 | 5047 | 0 | 157170 | 0 | 0 | 0 |
| BRYAN CALHOUN | |||||||||||||
| 173765 | 0 | 20000 | 0 | 621 | 0 | 8634 | 0 | 976 | 0 | 203996 | 0 | 0 | 0 |
| BRADLEY PRENDERGAST | |||||||||||||
| 160210 | 0 | 5000 | 0 | 0 | 0 | 5885 | 0 | 4083 | 0 | 175178 | 0 | 0 | 0 |
| CHRIS DEAN | |||||||||||||
| 153032 | 0 | 5750 | 0 | 545 | 0 | 7472 | 0 | 4905 | 0 | 171704 | 0 | 0 | 0 |
| WAJAHAT QURESHI | |||||||||||||
| 155727 | 0 | 0 | 0 | 396 | 0 | 1078 | 0 | 1883 | 0 | 159084 | 0 | 0 | 0 |
| JOHN SIMSON | |||||||||||||
| 0 | 0 | 0 | 0 | 317401 | 0 | 0 | 0 | 0 | 0 | 317401 | 0 | 0 | 0 |
| BARRIE KESSLER | |||||||||||||
| 0 | 0 | 0 | 0 | 312312 | 0 | 0 | 0 | 0 | 0 | 312312 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| PART I, LINE 1A | OUR PRESIDENT IS PERMITTED SPOUSAL COMPANION TRAVEL REIMBURSEMENT UP TO $5,000 ANNUALLY. WHERE APPLICABLE, THE TAX ON SHORT-TERM AND LONG-TERM DISABILITY IS GROSSED UP. |
| PART I, LINE 4A | JOHN SIMSON WAS PAID $317,401 IN SEVERANCE PAYMENTS IN 2011, BASED ON SERVICE TO THE ORGANIZATION AND SUBJECT TO TERMS AND CONDITIONS THAT ARE CONSISTENT WITH INDUSTRY PRACTICE. BARRIE KESSLER WAS PAID $312,312 IN SEVERANCE PAYMENTS IN 2011, BASED ON SERVICE TO THE ORGANIZATION AND SUBJECT TO TERMS AND CONDITIONS THAT ARE CONSISTENT WITH INDUSTRY PRACTICE. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (10 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| ORGANIZATION MISSION STATEMENT | FORM 990, PART III, LINE 1 | SOUNDEXCHANGE HELPS THE MUSIC AND CREATIVE COMMUNITY THRIVE IN THE DIGITAL AGE. WE'RE THE PREMIER DIGITAL PERFORMANCE RIGHTS ORGANIZATION IN THE WORLD, WITH A MISSION TO SUPPORT, PROTECT AND PROPEL THE MUSIC INDUSTRY FORWARD. DURING FY2011, SOUNDEXCHANGE REPRESENTED THE INTERESTS OF ALL SOUND RECORDING COPYRIGHT OWNERS AND PERFORMERS ON WHOSE BEHALF IT IS AUTHORIZED BY THE US COPYRIGHT OFFICE TO COLLECT AND DISTRIBUTE ROYALTIES PAID UNDER THE STATUTORY LICENSES SET FORTH IN SECTIONS 112 AND 114 OF TITLE 17 OF THE UNITED STATES CODE. AS THE SOLE ENTITY DESIGNATED BY THE U.S. COPYRIGHT OFFICE TO RECEIVE PAYMENTS FROM SERVICES OPERATING UNDER STATUTORY LICENSE, SOUNDEXCHANGE REPRESENTS THE INTERESTS OF ALL COPYRIGHT OWNERS AND PERFORMERS WHOSE WORKS HAVE BEEN PERFORMED. SOUNDEXCHANGE COLLECTED ROYALTIES FROM VARIOUS CLASSES OF LICENSEES, INCLUDING PRE-EXISTING SUBSCRIPTION SERVICES, PRE-EXISTING SATELLITE DIGITAL AUDIO RADIO SERVICES, INTERNET-ONLY WEBCASTERS, BROADCAST SIMULCASTERS AND NONCOMMERCIAL ENTITIES. SOUNDEXCHANGE COLLECTED ROYALTIES FROM OVER 1,000 LICENSEES AND DISTRIBUTED ROYALTIES TO OVER 22,000 SOUND RECORDING COPYRIGHT OWNERS AND FEATURED ARTISTS. SOUNDEXCHANGE ALSO DISTRIBUTED ROYALTIES TO THE INDEPENDENT ADMINISTRATORS. |
| FORM 990, PART VI, SECTION A, LINE 6 | SOUNDEXCHANGE DOES NOT HAVE STOCKHOLDERS BUT IS GOVERNED BY AN 18 MEMBER BOARD OF DIRECTORS, 9 REPRESENTING THE INTERESTS OF SOUND RECORDING COPYRIGHT OWNERS, AND 9 REPRESENTING THE INTERESTS OF RECORDING ARTISTS. | |
| FORM 990, PART VI, SECTION A, LINE 7A | THE SOUNDEXCHANGE BOARD IS COMPOSED OF 18 DIRECTORS, 9 REPRESENTING THE INTERESTS OF SOUND RECORDING COPYRIGHT OWNERS AND 9 REPRESENTING THE INTERESTS OF RECORDING ARTISTS. SOME DIRECTORS ARE APPOINTED BY OTHER ORGANIZATIONS AND SOME SIT ON THE BOARD BY VIRTUE OF THEIR POSITIONS WITHIN SOME ORGANIZATIONS. IN ADDITION, MANY OF THE DIRECTORS ARE SELECTED BY THEIR PEERS. | |
| FORM 990, PART VI, SECTION A, LINE 8B | SOUNDEXCHANGE DOES NOT KEEP WRITTEN MINUTES OF ALL OF ITS COMMITTEE MEETINGS. IN PARTICULAR, WE DO NOT KEEP MINUTES OF OUR LICENSING COMMITTEE OR FINANCE COMMITTEE MEETINGS DUE TO THE SENSITIVITY OF MATTERS DISCUSSED IN THOSE MEETINGS. OUR BYLAWS MAKE CLEAR THAT MINUTES ARE NOT MANDATORY. WE DO KEEP WRITTEN MINUTES OF ALL BOARD MEETINGS. | |
| FORM 990, PART VI, SECTION B, LINE 11 | MANAGEMENT WILL REVIEW THE 990 PRIOR TO FILING, AND A DRAFT IS PROVIDED TO THE FINANCE COMMITTEE PRIOR TO FILING. A COPY OF THE FILED 990 WILL BE PROVIDED TO THE FULL BOARD. | |
| FORM 990, PART VI, SECTION B, LINE 12C | THE SOUNDEXCHANGE BY-LAWS REQUIRE THE DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST. IN ADDITION, THE MEMBERS OF THE BOARD OF DIRECTORS COMPLETE AN ANNUAL QUESTIONNAIRE THAT ASKS IF THERE HAVE BEEN ANY CONFLICTS OF INTEREST IN THE REPORTING YEAR. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PRESIDENT'S CONTRACT IS PREPARED AND APPROVED BY THE BOARD. THE COO, GENERAL COUNSEL AND SVP OF FINANCE (THE OTHER OFFICERS) SALARIES ARE REVIEWED BY THE FINANCE COMMITTEE AND ARE RECOMMENDED TO THE FULL BOARD FOR APPROVAL AS PART OF THE THE ANNUAL BUDGET APPROVAL PROCESS. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC. A NON-GAAP VERSION OF THE FINANCIAL STATEMENTS IS MADE AVAILABLE ON SOUNDEXCHANGE'S WEBSITE. | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | FORM 990, PART XI, LINE 5: | NET UNREALIZED GAINS ON INVESTMENTS: 51,194. |
| OVERSIGHT OF AUDIT: | FORM 990, PART XII, LINE 2C | THERE HAVE BEEN NO CHANGES DURING THE YEAR IN THE PROCESS FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS. |
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