SOUNDEXCHANGE INC: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- SOUNDEXCHANGE INC (EIN 76-0742496)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-11-14
- IRS object ID
- 202243189349313724
- Schema version
- 2021v4.2
- 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) |
|---|---|---|
| Return | 2022-11-14T15:09:49-06:00 | ReturnTs |
| Tax Period End | 2021-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 135565207 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KPMG LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8350 BROAD STREET SUITE 900 | AddressLine1Txt |
| City | MCLEAN | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 22102 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 760742496 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SOUNDEXCHANGE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | SOUN | BusinessNameControlTxt |
| Phone | 2026405858 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 733 10TH ST NW 10TH FL | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20001 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ANJULA SINGH | PersonNm |
| Person Title | CFO & COO | PersonTitleTxt |
| Phone | 2026405858 | PhoneNum |
| Signature | 2022-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | ANJULA | PersonFirstNm |
| Person Last | SINGH | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JONATHAN LIST | PreparerPersonNm |
| PTIN | P01679255 | PTIN |
| Phone | 7032868000 | PhoneNum |
| Preparation | 2022-11-10 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MICHAEL J HUPPE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 733 10TH ST NW 10TH FL | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20001 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $68,908,367 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.SOUNDEXCHANGE.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2003 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | SOUNDEXCHANGE IS THE PREMIER MUSIC TECH ORGANIZATION ON A MISSION TO POWER THE (SEE SCHEDULE O) | ActivityOrMissionDesc |
| Voting Members Governing Body | 18 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 18 | VotingMembersIndependentCnt |
| Total Employee | 242 | TotalEmployeeCnt |
| Total Volunteers | 18 | TotalVolunteersCnt |
| Total Gross UBI | $221,461 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $57,624 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $55,874,677 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $64,681,316 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,488,501 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,392,850 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,684,806 | PYOtherRevenueAmt |
| CY Other Revenue | $2,622,350 | CYOtherRevenueAmt |
| PY Total Revenue | $62,047,984 | PYTotalRevenueAmt |
| CY Total Revenue | $68,696,516 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $26,835,729 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $30,425,449 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $35,100,247 | PYOtherExpensesAmt |
| CY Other Expenses | $36,826,252 | CYOtherExpensesAmt |
| PY Total Expenses | $61,935,976 | PYTotalExpensesAmt |
| CY Total Expenses | $67,251,701 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $112,008 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,444,815 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $722,546,752 | TotalAssetsBOYAmt |
| Total Assets EOY | $739,346,856 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $680,947,223 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $692,762,472 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $41,599,529 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $46,584,384 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE O | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SOUNDEXCHANGE PROVIDES A FULL SUITE OF INNOVATIVE TECHNOLOGY SOLUTIONS FOR THE ENTIRE MUSIC INDUSTRY, SERVING LABELS, ARTISTS, AND PRODUCERS. INDEPENDENTLY FORMED IN 2003 TO BUILD A FAIRER, SIMPLER, AND MORE EFFICIENT MUSIC INDUSTRY, SOUNDEXCHANGE COLLECTS AND DISTRIBUTES DIGITAL PERFORMANCE ROYALTIES ON BEHALF OF MORE THAN 560,000 MUSIC CREATORS AND GROWING. THROUGH PROPRIETARY MUSIC TECH SOLUTIONS, SOUNDEXCHANGE TRANSFORMS BILLIONS OF LINES OF MUSIC STREAMING DATA INTO ACCURATE AND TIMELY REVENUE, WITH 90% OF ROYALTIES PAID OUT WITHIN 45 DAYS OF RECEIPT. SOUNDEXCHANGE HAS PAID OUT MORE THAN $9 BILLION TO CREATORS SINCE ITS INCEPTION. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| Info In Schedule O Part V | Yes (X) | InfoInScheduleOPartVInd |
| IRP Document | 34935 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 242 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | Yes (1) | ForeignFinancialAccountInd |
| Foreign Country | UK | ForeignCountryCd |
| Foreign Country | CJ | ForeignCountryCd |
| Foreign Country | CA | ForeignCountryCd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 18 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 18 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | DC | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ANJULA SINGH | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2026405870 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 733 10TH STREET NW 10TH FL | AddressLine1Txt |
| City | WASHINGTON | CityNm |
| State Abbreviation | DC | StateAbbreviationCd |
| ZIP | 20001 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (28 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|---|---|
| DAVID BYRNE | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| JAY L COOPER | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| DUNCAN CRABTREE-IRELAND | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| ANDREA FINKELSTEIN | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| RAY HAIR | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| JEFF HARLESTON | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| MICHAEL HAUSMAN | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| MITCH GLAZIER | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| KENDALL MINTER | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| RICHARD BURGESS | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| PATRICK RAINS | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| MARTHA REEVES | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| JESSICA GOLDENBERG | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| PAUL ROBINSON | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| LAURIE SORIANO | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| DARIUS VAN ARMAN | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| JEFF WALKER | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| VICTOR ZARAYA | ||||||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | ||||
| MICHAEL J HUPPE | ||||||||||
| PRESIDENT & CEO | 40.00 | 1.00 | $2,135,188 | $0 | $45,181 | Yes (X) | ||||
| ANJULA SINGH | ||||||||||
| EXECUTIVE VP & CFO | 40.00 | 1.00 | $767,399 | $0 | $27,295 | Yes (X) | ||||
| CHARLES C RUSHING | ||||||||||
| CHIEF LEGAL OFFICER | 40.00 | 1.00 | $601,125 | $0 | $39,816 | Yes (X) | ||||
| SCOTT D DAY | ||||||||||
| CHIEF TECHNOLOGY OFFICER | 40.00 | 1.00 | $561,413 | $0 | $18,760 | Yes (X) | ||||
| ESTHER MIREYA TEJEDA | ||||||||||
| CHIEF MARKETING & COMMS. OFFICER | 40.00 | 1.00 | $492,224 | $0 | $31,674 | Yes (X) | ||||
| LUIS BONILLA | ||||||||||
| SVP, OPERATIONS | 40.00 | 1.00 | $436,250 | $0 | $43,077 | Yes (X) | ||||
| JULIA MASSIMINO | ||||||||||
| SVP, GLOBAL PUBLIC POLICY | 40.00 | 1.00 | $437,852 | $0 | $11,877 | Yes (X) | ||||
| TIM DADSON | ||||||||||
| GENERAL COUNSEL | 40.00 | 1.00 | $398,785 | $0 | $17,058 | Yes (X) | ||||
| BARRY LEVINE | ||||||||||
| VP, STRATEGIC PARTNERSHIPS | 40.00 | 1.00 | $359,134 | $0 | $10,027 | Yes (X) | ||||
| JONATHAN BENDER | ||||||||||
| COO | 40.00 | 1.00 | $104,922 | $0 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $6,294,292 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $244,765 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 79 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| JENNER & BLOCK LLP | |||||
| 353 N CLARK STREET | CHICAGO | IL | 606543456 | LEGAL | $3,502,291 |
| COMPASS LEXECON LLC | |||||
| PO BOX 418005 | BOSTON | MA | 022418005 | LEGAL | $2,950,808 |
| SOLUTION STREET LLC | |||||
| 505 HUNTMAR PARK DR STE 225 | HERNDON | VA | 20170 | IT CONSULTING | $2,919,385 |
| TEN MILE SQUARE TECHNOLOGIES | |||||
| 803 WEST BROAD ST STE 210 | FALLS CHURCH | VA | 22046 | IT CONSULTING | $2,196,016 |
| AMAZON WEB SERVICES | |||||
| PO BOX 84023 | SEATTLE | WA | 981248423 | CLOUD COMPUTING SVC | $2,064,684 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 32 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| ROYALTY COLLECTION | 900099 | $51,862,862 | $51,862,862 |
| UNCLAIMED FUNDS | 900099 | $10,306,977 | $10,306,977 |
| BAD DEBT RECOVERY | 900099 | $1,540,991 | $1,540,991 |
| COST RECOVERY FEES | 900099 | $970,486 | $970,486 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $64,681,316 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,392,850 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $151,013 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,241,837 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $211,851 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $211,851 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| REIMBURSED SVCS INCOME | 900099 | $2,546,950 | $2,476,502 | $70,448 |
| MISCELLANEOUS INCOME | 900099 | $75,400 | $75,400 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $2,622,350 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $68,696,516 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $67,233,218 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $221,461 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,241,837 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,196,176 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,814,670 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $915,113 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,699,305 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,800,185 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,301,995 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $324,922 | TotalAmt |
Fees For Services Lobbying FeesForServicesLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $276,000 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $670,070 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,363,809 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $54,949 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $488,383 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,132,110 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,313,355 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $415,015 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $159,327 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $151,013 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,636,166 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $698,874 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| BAD DEBT EXPENSE | $1,540,991 |
| MISCELLANEOUS | $1,097,810 |
| COST RECOVERY | $970,486 |
| BANK FEES | $230,977 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,251,701 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,958,022 | BOYAmt |
| EOY | $7,531,144 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $45,514,676 | BOYAmt |
| EOY | $48,931,048 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $155,747,661 | BOYAmt |
| EOY | $154,834,316 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,041,957 | BOYAmt |
| EOY | $16,622,003 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $914,032 | BOYAmt |
| EOY | $1,459,675 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $47,675,684 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $30,266,341 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,520,227 | BOYAmt |
| EOY | $17,409,343 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $433,575,500 | BOYAmt |
| EOY | $449,087,729 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,274,677 | BOYAmt |
| EOY | $43,471,598 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $722,546,752 | BOYAmt |
| EOY | $739,346,856 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,463,081 | BOYAmt |
| EOY | $12,839,138 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,424,610 | BOYAmt |
| EOY | $21,268,428 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $641,059,532 | BOYAmt |
| EOY | $658,654,906 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $680,947,223 | BOYAmt |
| EOY | $692,762,472 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,599,529 | BOYAmt |
| EOY | $46,584,384 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,599,529 | BOYAmt |
| EOY | $46,584,384 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $722,546,752 | BOYAmt |
| EOY | $739,346,856 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,444,815 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$1,093,332 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $4,633,372 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,600,183 | OtherCostOrOtherBasisAmt |
| Depreciation | $364,972 | DepreciationAmt |
| Book Value | $1,235,211 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,321,563 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,783,519 | DepreciationAmt |
| Book Value | $538,044 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $43,753,938 | OtherCostOrOtherBasisAmt |
| Depreciation | $28,117,850 | DepreciationAmt |
| Book Value | $15,636,088 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $17,409,343 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| LICENSING COSTS, NET | $24,629,114 |
| INVESTMENTS IN SUBSIDIARIES | $18,826,065 |
| OTHER DEPOSITS | $16,419 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $43,471,598 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (5 entries)
| DescDesc | AmtAmt |
|---|---|
| FUNDS HELD IN AGENCY | $635,850,080 |
| DUE TO MEMBERS | $17,910,807 |
| LOANS FROM MEMBERS | $4,403,810 |
| CAPITAL LEASES PAYABLE | $248,423 |
| DUE TO AFFILIATES | $241,786 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $658,654,906 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | 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, 2021 AND 2020. 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 2018. |
| 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 2021, BUT COLLECTED AFTER DECEMBER 31, 2021. THE FUNDS HELD IN AGENCY BALANCE OF $635,850,080 AT DECEMBER 31, 2021 INCLUDED A $152,940,771 ACCRUAL FOR SUCH ROYALTIES. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| First Class Or Charter Travel | Yes (X) | FirstClassOrCharterTravelInd |
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MICHAEL J HUPPE | ||||||||||||||
| PRESIDENT & CEO | $1,175,144 | $0 | $925,000 | $0 | $35,044 | $0 | $14,500 | $0 | $30,681 | $0 | $2,180,369 | $0 | $0 | $0 |
| ANJULA SINGH | ||||||||||||||
| EXECUTIVE VP & CFO | $636,617 | $0 | $123,000 | $0 | $7,782 | $0 | $14,500 | $0 | $12,795 | $0 | $794,694 | $0 | $0 | $0 |
| CHARLES C RUSHING | ||||||||||||||
| CHIEF LEGAL OFFICER | $513,702 | $0 | $67,000 | $0 | $20,423 | $0 | $14,400 | $0 | $25,416 | $0 | $640,941 | $0 | $0 | $0 |
| SCOTT D DAY | ||||||||||||||
| CHIEF TECHNOLOGY OFFICER | $501,481 | $0 | $55,000 | $0 | $4,932 | $0 | $14,500 | $0 | $4,260 | $0 | $580,173 | $0 | $0 | $0 |
| ESTHER MIREYA TEJEDA | ||||||||||||||
| CHIEF MARKETING & COMMS. OFFICER | $472,216 | $0 | $20,000 | $0 | $8 | $0 | $14,500 | $0 | $17,174 | $0 | $523,898 | $0 | $0 | $0 |
| LUIS BONILLA | ||||||||||||||
| SVP, OPERATIONS | $361,204 | $0 | $70,000 | $0 | $5,046 | $0 | $14,500 | $0 | $28,577 | $0 | $479,327 | $0 | $0 | $0 |
| JULIA MASSIMINO | ||||||||||||||
| SVP, GLOBAL PUBLIC POLICY | $98,528 | $0 | $45,000 | $0 | $294,324 | $0 | $5,984 | $0 | $5,893 | $0 | $449,729 | $0 | $0 | $0 |
| TIM DADSON | ||||||||||||||
| GENERAL COUNSEL | $351,998 | $0 | $46,000 | $0 | $787 | $0 | $12,798 | $0 | $4,260 | $0 | $415,843 | $0 | $0 | $0 |
| BARRY LEVINE | ||||||||||||||
| VP, STRATEGIC PARTNERSHIPS | $288,842 | $0 | $50,000 | $0 | $20,292 | $0 | $9,891 | $0 | $136 | $0 | $369,161 | $0 | $0 | $0 |
| JONATHAN BENDER | ||||||||||||||
| COO | $0 | $0 | $0 | $0 | $104,922 | $0 | $0 | $0 | $0 | $0 | $104,922 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE J PART I, LINE 1A | OUR POLICY IS NOT TO PROVIDE FOR FIRST CLASS TRAVEL, HOWEVER BASED ON EXTENUATING CIRCUMSTANCES WE DID PERMIT SUCH TRAVEL FOR A FEW INSTANCES IN 2021. OUR PRESIDENT AND CEO IS PERMITTED SPOUSAL COMPANION TRAVEL REIMBURSEMENT FOR REASONABLE TRAVEL COSTS ANNUALLY. WHERE APPLICABLE, FIRST CLASS TAVEL AND SPOUSAL COMPANION TRAVEL WAS INCUDED AS A TAXABLE BENEFIT, AND THE TAX ON THESE AMOUNTS WERE GROSSED UP FOR EMPLOYEES. WHERE APPLICABLE, THE TAX ON SHORT-TERM AND LONG-TERM DISABILITY IS GROSSED UP FOR EMPLOYEES. |
| SCHEDULE J PART I, LINE 4B | JONATHAN BENDER RECEIVED $104,922 IN SEVERANCE PAYMENTS IN 2021 BASED UPON THE TERMS OF HIS AGREEMENT. JULIA MASSIMINO RECEIVED $273,476.84 IN SEVERANCE PAYMENTS IN 2021 BASED UPON THE TERMS OF HER AGREEMENT. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART 1, LINE 1 | FUTURE OF MUSIC. IT WAS INDEPENDENTLY FORMED IN 2003 TO BUILD FAIRER, SIMPLER, AND MORE EFFICIENT MUSIC INDUSTRY THROUGH TECHNOLOGY, DATA, AND ADVOCACY. THE ONLY ORGANIZATION DESIGNATED BY THE U.S. GOVERNMENT TO ADMINISTER THE SECTION 114 SOUND RECORDING LICENSE, SOUNDEXCHANGE COLLECTS AND DISTRIBUTES DIGITAL PERFORMANCE ROYALTIES ON BEHALF OF 560,000 MUSIC CREATORS AND GROWING. |
| FORM 990, PART I, LINE 5 | AS OF DECEMBER 31, 2021, SOUNDEXCHANGE HAD 193 EMPLOYEES. |
| FORM 990, PART III, LINE 1 | SOUNDEXCHANGE IS THE PREMIER MUSIC TECH ORGANIZATION ON A MISSION TO POWER THE FUTURE OF MUSIC. INDEPENDENTLY FORMED IN 2003, THE NON-PROFIT DEVELOPS AND IMPLEMENTS INNOVATIVE, EFFICIENT, AND TRUSTED FINANCIAL-TECH AND DATA MANAGEMENT SOLUTIONS FOR THE GLOBAL MUSIC MARKETPLACE, INCLUDING PROVIDING TECHNOLOGY AND ROYALTY SOLUTIONS FOR SOUND RECORDINGS AND MUSIC PUBLISHING, AND SERVING AS THE CRITICAL BACKBONE TO TODAY'S DIGITAL MUSIC INDUSTRY. THROUGH TECHNOLOGY, DATA AND ADVOCACY, SOUNDEXCHANGE ENDEAVORS TO MAKE THE BUSINESS OF MUSIC FAIRER, SIMPLER, AND MORE EFFICIENT. THE ORGANIZATION REPRESENTS APPROXIMATELY 560,000 CREATORS (RECORDING ARTISTS AND SOUND RECORDING RIGHTS OWNERS), INCLUDING MAJOR AND INDEPENDENT RECORD LABELS, FOR THE COLLECTION AND DISTRIBUTION OF ROYALTIES FOR PUBLIC PERFORMANCE OF THEIR WORK ON NON-INTERACTIVE DIGITAL RADIO SERVICES. SOUNDEXCHANGE ALSO ADMINISTERS DIRECT NON-STATUTORY LICENSING ARRANGEMENTS BETWEEN SOUND RECORDING COPYRIGHT OWNERS AND SERVICES PERFORMING THEIR SOUND RECORDINGS AND COLLECTS, AND DISTRIBUTES ROYALTIES RECEIVED FROM FOREIGN COLLECTIVE MANAGEMENT ORGANIZATIONS ON BEHALF OF ITS MEMBERS. SOUNDEXCHANGE ALSO ADVOCATES FOR CREATORS' RIGHTS, SEEKING ROYALTY STRUCTURES THAT PROTECT THE VALUE OF MUSIC FOR ARTISTS, ENSURING THEY ARE PAID FAIRLY NO MATTER WHERE THEIR MUSIC IS PLAYED. THE LIBRARY OF CONGRESS HAS DESIGNATED SOUNDEXCHANGE TO ADMINISTER THE STATUTORY LICENSES FOR NON-INTERACTIVE DIGITAL RADIO SERVICES, INCLUDING PANDORA, SIRIUSXM, AND MUSIC CHOICE AND MORE THAN 3,600 OTHER DIGITAL MUSIC SERVICES. TO DATE, SOUNDEXCHANGE HAS DISTRIBUTED NEARLY $9 BILLION IN ROYALTIES AND DISTRIBUTED NEARLY $1 BILLION JUST IN 2021, THROUGH PROPRIETARY MUSIC TECH SOLUTIONS THAT TURN DATA INTO ACCURATE REVENUE. |
| 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 GOVERNING DOCUMENTS MAKE CLEAR THAT MINUTES ARE NOT MANDATORY. WE DO KEEP WRITTEN MINUTES OF ALL BOARD MEETINGS. |
| FORM 990, PART VI, SECTION B, LINE 11B | MANAGEMENT WILL REVIEW THE 990 PRIOR TO FILING. A COPY OF THE FILED 990 WILL BE PROVIDED TO THE FULL BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE SOUNDEXCHANGE GOVERNANCE MANUAL REQUIRES THE DISCLOSURE OF ANY POTENTIAL CONFLICTS OF INTEREST. IN ADDITION, THE MEMBERS OF THE BOARD OF DIRECTORS AND OFFICERS OF THE COMPANY COMPLETE AN ANNUAL QUESTIONAIRE THAT ASKS IF THERE HAVE BEEN ANY CONFLICTS OF INTEREST IN THE REPORTING YEAR. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION COMMITTEE, COMPRISING OF MEMBERS OF THE BOARD OF DIRECTORS, CONSIDERS EXTERNAL SALARY DATA, SCOPE AND COMPLEXITY OF THE RESPONSIBILITIES OF THE POSITION, IN DETERMINING, AND RECOMMENDING TO THE FULL BOARD FOR APPROVAL, THE PRESIDENT AND CEO'S EXECUTIVE COMPENSATION. THE PRESIDENT AND CEO ASSESSES COMPENSATION FOR THE OFFICERS AND OTHER EXECUTIVE TEAM MEMBERS BY UTILIZING RELEVANT EXTERNAL COMPARABLE SALARY DATA FOR LIKE RESPONSIBILITIES AT NOT-FOR-PROFIT ORGANIZATIONS, EXPERIENCE AND ANNUAL REVIEW PROCESS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CONFLICT OF INTEREST DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. A NON-GAAP VERSION OF THE FINANCIAL STATEMENTS IS MADE AVAILABLE ON SOUNDEXCHANGE'S WEBSITE. |
| FORM 990, PART XI, LINE 9: | MEMBER CONTRIBUTION 4,633,372. |
| PART XII, LINE 2C | OVERSIGHT OF AUDIT: THERE HAVE BEEN NO CHANGES DURING THE YEAR IN THE PROCESS FOR OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (3 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd | Address Line1ForeignAddress/AddressLine1Txt | CityForeignAddress/CityNm | Province Or StateForeignAddress/ProvinceOrStateNm | CountryForeignAddress/CountryCd | Foreign PostalForeignAddress/ForeignPostalCd | Legal Domicile Foreign CountryLegalDomicileForeignCountryCd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SOUNDEXCHANGE ENTERPRISES INC | ||||||||||||||||||
| 733 10TH STREET NW 10TH FLOOR | WASHINGTON | DC | 20001 | 822233404 | VAR MUSIC ADM SVC | DE | SOUNDEXCHANGE | C | $158,321 | $23,250,811 | 1.00000 | Yes (1) | ||||||
| SXWORKS LLC | ||||||||||||||||||
| 733 10TH STREET NW 10TH FLOOR | WASHINGTON | DC | 20001 | 822227618 | SEE PART VII | DE | SX ENTERPRISES | C | $21,340,438 | 1.00000 | Yes (1) | |||||||
| CMRRA LTD | ||||||||||||||||||
| 999999999 | SEE PART VII | SXWORKS | C | $7,814,736 | $69,333,909 | 1.00000 | Yes (1) | 320-56 WELLESLEY STREET | WEST TORONTO | ONTARIO | CA | M5S 2S3 | CA | |||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | Yes (1) | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (11 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| SOUNDEXCHANGE ENTERPRISES INC | ||
| A | $151,013 | ACCRUAL |
| SOUNDEXCHANGE ENTERPRISES INC | ||
| L | $689,712 | REIMB SVCS |
| SOUNDEXCHANGE ENTERPRISES INC | ||
| B | $115,036 | CASH FUNDING |
| SOUNDEXCHANGE ENTERPRISES INC | ||
| B | $697,575 | ACCRUAL |
| SXWORKS LLC | ||
| L | $985,204 | REIMB SVCS |
| SXWORKS LLC | ||
| B | $1,588,144 | CASH FUNDING |
| SXWORKS LLC | ||
| B | $2,038,170 | ACCRUAL |
| CMRRA | ||
| L | $872,034 | REIMB SVCS |
| CMRRA | ||
| B | $2,706,822 | CASH FUNDING |
| CMRRA | ||
| B | $51,981 | CASH FUNDING |
| CMRRA | ||
| B | $1,845,646 | ACCRUAL |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART IV, LINE 2, COLUMN (B) | FormAndLineReferenceDesc |
| Explanation | GLOBAL PUBLISHER SERVICES PART IV, LINE 3, COLUMN (B) MECHANICAL ROYALTY ADMIN | ExplanationTxt |