Form990
Click to see attachment
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private
foundations)
MediumBullet Do not enter social security numbers on this form as it may be made public.
MediumBullet Information about Form 990 and its instructions is at www.IRS.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
A For the 2014 calendar year, or tax year beginning 08-01-2014 , and ending 07-31-2015
BCheck if applicable:
CName of organization
THE NARAS FOUNDATION
 
Doing business as
THE GRAMMY FOUNDATION
 
Number and street (or P.O. box if mail is not delivered to street address)
3030 OLYMPIC BOULEVARD
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SANTA MONICA, CA90404
D Employer identification number

95-3199223
E Telephone number

G Gross receipts $ 6,652,204
F Name and address of principal officer:
NEIL PORTNOW
3030 OLYMPIC BOULEVARD
SANTA MONICA,CA90404
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
WWW.GRAMMY.COM/GRAMMY_FOUNDATION
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1988
M State of legal domicile: CA
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: TO SUPPORT EDUCATIONAL AND PRESERVATION-RELATED CHARITABLE GOALS OF THE RECORDING ACADEMY.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 19
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 19
5 Total number of individuals employed in calendar year 2014 (Part V, line 2a) ...... 5 19
6 Total number of volunteers (estimate if necessary) ............. 6 365
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 50,000
b Net unrelated business taxable income from Form 990-T, line 34 ......... 7b 40,592
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 4,406,711 4,277,333
9 Program service revenue (Part VIII, line 2g) ......... 329,327 267,854
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 185,172 345,712
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 351,391 587,257
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 5,272,601 5,478,156
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 496,888 495,320
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 1,996,160 2,091,610
16a Professional fundraising fees (Part IX, column (A), line 11e)..... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet817,124    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 2,408,987 2,403,661
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 4,902,035 4,990,591
19 Revenue less expenses. Subtract line 18 from line 12....... 370,566 487,565
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 6,840,948 7,159,200
21 Total liabilities (Part X, line 26)............. 1,459,461 1,550,369
22 Net assets or fund balances. Subtract line 21 from line 20..... 5,381,487 5,608,831
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name MediumBullet
Firm's EIN MediumBullet
Firm's address MediumBullet



Phone no.
May the IRS discuss this return with the preparer shown above? (see instructions) ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2014)
Form 990 (2014)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III ..............
1
Briefly describe the organization’s mission: THE NARAS FOUNDATION (THE FOUNDATION, DBA GRAMMY FOUNDATION) WAS ESTABLISHED BY NARAS TO SUPPORT ITS EDUCATIONAL AND PRESERVATION-RELATED CHARITABLE GOALS. THE FOUNDATION WAS INCORPORATED IN 1988 TO CULTIVATE THE UNDERSTANDING, APPRECIATION, AND ADVANCEMENT OF THE CONTRIBUTION OF RECORDED MUSIC ON AMERICAN CULTURE - FROM THE ARTISTIC AND TECHNICAL LEGENDS OF THE PAST TO THE STILL UNIMAGINED MUSICAL BREAKTHROUGHS OF THE FUTURE GENERATIONS OF MUSIC PROFESSIONALS. THE FOUNDATION ACCOMPLISHES THIS MISSION THROUGH PROGRAMS AND ACTIVITIES THAT ENGAGE THE MUSIC INDUSTRY AND CULTURAL COMMUNITY, AS WELL AS THE GENERAL PUBLIC. THE FOUNDATION WORKS IN PARTNERSHIP YEAR-ROUND WITH NARAS AND ITS REGIONAL OFFICES TO BRING NATIONAL ATTENTION TO IMPORTANT ISSUES, SUCH AS THE VALUE AND IMPACT OF MUSIC AND ARTS EDUCATION, AND THE URGENCY OF PRESERVING OUR RICH CULTURAL HERITAGE.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ......................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ............................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 921,772 including grants of $   ) (Revenue $ 143,900 )
GRAMMY CAMP - FOCUSING ON ALL ASPECTS OF COMMERCIAL MUSIC, GRAMMY CAMP PROVIDES INTERACTIVE RESIDENTIAL AND NON-RESIDENTIAL SUMMER MUSIC INDUSTRY TRAINING FOR HIGH SCHOOL STUDENTS. THE VARIETY OF CAREER TRACKS OFFERED EXPLORE THE CREATIVE PROCESS AND ENGAGE STUDENTS IN THE TECHNICAL ASPECTS OF PERFORMING, RECORDING AND DISTRIBUTION, WHILE EMPHASIZING NEW AND EMERGING MUSIC INDUSTRY TRENDS. RESIDENTIAL GRAMMY CAMPS WERE HELD IN NEW YORK AND LOS ANGELES, WHILE A 5-DAY NON-RESIDENTIAL VERSION WAS HELD IN NASHVILLE. MUSIC CAREER TRACKS COVERED INCLUDED AUDIO ENGINEERING, ELECTRONIC MUSIC PRODUCTION, MUSIC JOURNALISM, MUSIC BUSINESS, SONGWRITING, VOCAL PERFORMANCE, INSTRUMENTAL PERFORMANCE AND VIDEO PRODUCTION.IN 2014-15 GRAMMY CAMP WEEKEND WAS ADDED TO THE CAMP PROGRAMS. GRAMMY CAMP - WEEKEND IS A ONE DAY NON-RESIDENTIAL MUSIC INDUSTRY EXPERIENCE WHERE A SMALL GROUP (20-30) OF HIGH SCHOOL STUDENTS CAN GAIN AN INTRODUCTION TO THE BUSINESS OF MUSIC. EACH WEEKEND SESSION CONCENTRATES ON ONE TO THREE CAREER TRACKS (AUDIO ENGINEERING, ELECTRONIC MUSIC PRODUCTION, SONGWRITING, VIDEO PRODUCTION OR VOCAL PERFORMANCE). PARTICIPANTS LEAVE WITH A BETTER UNDERSTANDING OF HOW THE MUSIC BUSINESS WORKS AND HOW THEY CAN BEGIN TO PLAN A SUCCESSFUL CAREER PATH. THE GRAMMY FOUNDATION PARTNERS WITH LOCAL TEEN CENTERS, SCHOOLS AND COMMUNITY ORGANIZATIONS WHO HELP IDENTIFY AND SELECT STUDENTS TO ATTEND.
4b (Code:   ) (Expenses $ 365,519 including grants of $ 224,500 ) (Revenue $   )
GRAMMY SIGNATURE SCHOOLS - THE GRAMMY SIGNATURE SCHOOLS PROGRAM HONORS TOP PUBLIC HIGH SCHOOL MUSIC PROGRAMS THAT PROMOTE AND PRESERVE MUSIC EDUCATION AS A KEY PART OF THEIR CURRICULUM. THE FOUNDATION CONVENES A PANEL OF EXPERTS TO REVIEW APPLICATIONS, AUDIO AND PRINTED MATERIALS TO SELECT THE BEST MUSIC PROGRAMS IN THE COUNTRY. UNDERSTANDING THAT MANY SCHOOLS STRUGGLE TO SUSTAIN MUSIC CLASSES, MUCH LESS A FULL MUSIC CURRICULUM, THE FOUNDATION INTRODUCED THE ENTERPRISE AWARD IN 2004, SPECIFICALLY DESIGNED FOR SCHOOLS WITH ECONOMIC NEEDS. ALL SELECTED SCHOOL MUSIC PROGRAMS RECEIVE CASH GRANTS. ADDITIONALLY SCHOOLS GARNERING GOLD LEVEL AWARDS, AND HIGHER RECEIVE A SPECIAL CUSTOM AWARD AND A MEDIA WORTHY VISIT FROM A REPRESENTATIVE OF THE GRAMMY FOUNDATION.IN 2015, 13 PUBLIC HIGH SCHOOL MUSIC PROGRAMS FROM 13 CITIES AND 9 STATES WERE HONORED WITH CASH AWARDS TOTALING $61,000. THIS YEAR A.N. MCCALLUM HIGH SCHOOL IN AUSTIN, TX WAS NAMED THE NATIONAL GRAMMY SIGNATURE SCHOOL.IN 2011, THE GRAMMY FOUNDATION CREATED THE GRAMMY SIGNATURE SCHOOLS COMMUNITY AWARD. THROUGH THIS PROGRAM THE GRAMMY FOUNDATION IDENTIFIES DESERVING PUBLIC HIGH SCHOOL MUSIC PROGRAMS TO RECEIVE THE AWARD AND A FINANCIAL GRANT OF $2,000. FUNDING FOR THE PROGRAM HAS COME FROM GRAMMY FOUNDATION PARTNERS BEST BUY, THE HOT TOPIC FOUNDATION, CONVERSE, JOURNEYS AND RBC. SINCE ITS INCEPTION OVER 450 SCHOOLS HAVE RECEIVED CASH REWARDS TOTALING OVER $900,000.
4c (Code:   ) (Expenses $ 362,142 including grants of $   ) (Revenue $ 20,820 )
GRAMMY CAMP - JAZZ SESSION - THIS PROGRAM IDENTIFIES, SELECTS AND REWARDS TOP HIGH SCHOOL INSTRUMENTALISTS AND SINGERS WITH ELEVEN DAYS FILLED WITH ONCE-IN-A-LIFETIME OPPORTUNITIES. ENSEMBLE MEMBERS TRAVEL TO LOS ANGELES DURING GRAMMY WEEK TO REHEARSE, PERFORM AND RECORD TOGETHER, OFTEN WITH GRAMMY AWARD-WINNING GUEST ARTISTS AT A SERIES OF HIGH PROFILE GRAMMY WEEK EVENTS. ENSEMBLE MEMBERS ALSO ATTEND THE GRAMMYS. APPROXIMATELY $2 MILLION IN SCHOLARSHIPS HAVE BEEN OFFERED TO ENSEMBLE MEMBERS BY BERKLEE COLLEGE OF MUSIC, MANHATTAN SCHOOL OF MUSIC, NEW SCHOOL FOR JAZZ AND CONTEMPORARY MUSIC, THE USC THORNTON SCHOOL OF MUSIC, AND OTHERS. ALUMNI HAVE GONE ON TO SUCCESSFUL MUSIC CAREERS PERFORMING WITH ARTISTS SUCH AS BEYONCE, TERENCE BLANCHARD, CHICK COREA, GAVIN DEGRAW, INDIA ARIE, BRANFORD MARSALIS, WYNTON MARSALIS, AND CHRISTIAN SCOTT, AS WELL AS ORGANIZATIONS SUCH AS THE JAZZ AT LINCOLN CENTER ORCHESTRA AND THE NEW YORK PHILHARMONIC.IN 2015, APPROXIMATELY 500 HIGH SCHOOL STUDENTS APPLIED TO SUBMIT VIDEO AUDITIONS FOR 30 AVAILABLE POSITIONS: 18-PIECE BIG BAND, 8-VOICE JAZZ CHOIR AND A 4-PIECE JAZZ COMBO. AFTER INITIAL SCREENINGS TO NARROW THE NUMBER, THE TWO ENSEMBLE DIRECTORS CONFER WITH GRAMMY FOUNDATION STAFF TO MAKE FINAL SELECTIONS. CONFERENCE CALLS WITH PARENTS/GUARDIANS PROVIDE GUIDANCE REGARDING STUDENT EXPECTATIONS RELATIVE TO PERFORMANCE AND BEHAVIOR. THE STUDENTS, DIRECTORS, AND CHAPERONES ARRIVED IN LOS ANGELES TEN DAYS PRIOR TO THE GRAMMY AWARDS TELECAST. THE PROGRAM HAS BEEN SHOWCASED ON THE DAVID LETTERMAN SHOW, ENTERTAINMENT TONIGHT, THE CBS EARLY MORNING SHOW AND EVEN THE GRAMMY TELECAST STAGE.
(Code:   ) (Expenses $ 1,779,353 including grants of $ 270,820 ) (Revenue $ 111,858 )
GRAMMY CAREER DAY (FORMERLY GRAMMY CAMP BASIC TRAINING): SPENDING $114,987 REVENUE: $0THE GRAMMY FOUNDATION'S OLDEST PROGRAM IS GRAMMY CAREER DAY. THIS NATIONAL OUTREACH PROGRAM PROVIDES INSIGHT TO HIGH SCHOOL STUDENTS ABOUT CAREERS THAT ARE AVAILABLE IN MUSIC, AND DIRECTION ON HOW TO PREPARE FOR THEM. HELD ON UNIVERSITY CAMPUSES AND OTHER LEARNING ENVIRONMENTS ACROSS THE COUNTRY EACH YEAR, THESE ONE-DAY CONFERENCES ALLOW STUDENTS TO DISCUSS WITH INDUSTRY PROFESSIONALS WHAT IT'S LIKE TO WORK IN THE MUSIC INDUSTRY WHILE LEARNING WHAT IT TAKES TO BE SUCCESSFUL IN THE FIELD.IN 2015, THE FOUNDATION WORKED IN COOPERATION WITH SELECT RECORDING ACADEMY CHAPTERS AND OTHERS TO PRESENT GRAMMY CAREER DAY EVENTS IN THE FOLLOWING CITIES: AUSTIN, BEND, FAIRBANKS, KANSAS CITY, LAS VEGAS, LOS ANGELES, MIAMI AND NEW YORK. CONFERENCE TOPICS RANGED FROM ENGINEERING AND SONGWRITING TO ARTIST MANAGEMENT AND JOURNALISM. OVER 2,000 HIGH SCHOOL STUDENTS ATTENDED THESE EVENTS.MUSIC EDUCATOR AWARD SPENDING: $311,957 REVENUE: $0THE MUSIC EDUCATOR AWARD WAS ESTABLISHED TO RECOGNIZE CURRENT EDUCATORS (K THROUGH COLLEGE, PUBLIC AND PRIVATE SCHOOLS) WHO HAVE MADE A SIGNIFICANT AND LASTING CONTRIBUTION TO THE FIELD OF MUSIC EDUCATION AND WHO DEMONSTRATE A COMMITMENT TO THE BROADER CAUSE OF MAINTAINING MUSIC EDUCATION IN THE SCHOOLS. THIS PROGRAM IS A JOINT PARTNERSHIP AND PRESENTATION OF THE RECORDING ACADEMY AND GRAMMY FOUNDATION.ONE RECIPIENT WILL BE SELECTED FROM 10 FINALISTS AND WILL BE RECOGNIZED FOR HIS/HER REMARKABLE IMPACT ON STUDENTS' LIVES. THE WINNER WILL BE FLOWN TO LOS ANGELES TO ACCEPT THE AWARD, ATTEND THE GRAMMY AWARDS CEREMONY AND RECEIVE A $10,000 HONORARIUM. THE NINE FINALISTS WILL RECEIVE A $1,000 HONORARIUM AND THE SCHOOLS OF ALL 10 FINALISTS WILL RECEIVE MATCHING GRANTS. GRAMMYINTHESCHOOLS.COM SPENDING: $20,816 REVENUE: $0GRAMMY IN THE SCHOOLS.COM IS THE OFFICIAL WEBSITE FOR GRAMMY FOUNDATION MUSIC EDUCATION PROGRAMS. IT PROVIDES INFORMATION ON THE ORGANIZATION, PROGRAM APPLICATIONS AND ADDITIONAL CONTENT ABOUT CAREERS IN THE MUSIC INDUSTRY.ARCHIVING AND PRESERVATION PROGRAMSTHE GRAMMY FOUNDATION'S ARCHIVING AND PRESERVATION INITIATIVES ARE DESIGNED TO RAISE PUBLIC AWARENESS OF THE URGENT NEED TO PRESERVE OUR NATION'S RECORDED SOUND LEGACY. THIS IS ACHIEVED THROUGH THE DEVELOPMENT OF INFORMATION RESOURCES AND ARCHIVING/DOCUMENTATION PROJECTS THAT PROMOTE PRESERVATION OF OUR NATION'S VAST RECORDED SOUND HERITAGE. LEGACY CONCERT SPENDING: $328,095 REVENUE: $44,044THE LEGACY CONCERT IS PRODUCED EACH YEAR DURING GRAMMY WEEK TO HEIGHTEN PUBLIC AWARENESS OF OUR WORK IN PROTECTING OUR CULTURAL LEGACY. IN 2015, "LEAN ON ME" - THE 17TH ANNUAL LEGACY CONCERT - WAS HOSTED AT THE WILSHIRE EBELL THEATRE IN LOS ANGELES, CALIFORNIA. THE EVENT EXPLORED THE EVOLUTION OF MUSIC'S ROLE IN ADVANCING PHILANTHROPIC CAUSES AND CELEBRATED THE VISIONARIES BEHIND THE CREATION OF THOSE RENOWNED SONGS AND CONCERTS. THE PRESENTATION FEATURED VIDEO FOOTAGE FROM THE GRAMMY FOUNDATION LIVING HISTORIES ARCHIVE, FARM AID, CONCERT FOR BANGLADESH AND LIVE MUSICAL PERFORMANCES. GUEST ARTISTS INCLUDED GRAMMY NOMINEES ALOE BLACC AND ROBIN THICKE, GRAMMY CAMP ALUM RILEY BRIA, DEBORAH COX, ROZZI CRANE, LINDSEY STIRLING, WALK THE MOON AND GRAMMY WINNERS MELISSA ETHERIDGE, JOHN MELLENCAMP AND WILLIE NELSON. THE GRAMMY FOUNDATION WAS INSTRUMENTAL IN WRITING AND SUCCESSFULLY PASSING THE NATIONAL RECORDING PRESERVATION ACT. THIS LEGISLATION CREATED A NATIONAL RECORDING PRESERVATION BOARD THAT WORKS WITH THE LIBRARIAN OF CONGRESS AND THE PUBLIC TO SELECT ENTRIES FOR THE NATIONAL RECORDING REGISTRY, ENSURING THE PRESERVATION OF THESE DESIGNATED HISTORIC RECORDINGS. SINCE THE PASSAGE OF THE ACT IN 2000 AND ITS REAUTHORIZATION IN 2008, MORE THAN 300 RECORDINGS HAVE BEEN ADDED TO THE REGISTRY. LIVING HISTORIES PROGRAM SPENDING: $101,577 REVENUE: $0THE FOUNDATION'S LIVING HISTORIES PROGRAM PRESERVES ON VIDEOTAPE THE LIFE STORIES OF KEY RECORDING INDUSTRY PROFESSIONALS AND VISIONARIES WHO HELPED CREATE THE HISTORY OF RECORDED SOUND. THIS FOOTAGE IS AVAILABLE FOR RESEARCH AND EDUCATIONAL PURPOSES AND IS UTILIZED BY THE GRAMMY FOUNDATION TO DEVELOP PROGRAMS THAT TELL THE UNIQUE STORIES OF OUR MUSICAL HISTORY THROUGH THE UNFILTERED VOICES OF ITS MAKERS. TO DATE, WE HAVE COMPLETED MORE THAN 200 INTERVIEWS WITH LEGENDARY ARTISTS, PRODUCERS, EXECUTIVES, SONGWRITERS, TECHNOLOGY PIONEERS AND OTHER IMPORTANT FIGURES. THESE INDIVIDUAL ORAL HISTORIES WILL BE FEATURED ON VARIOUS WEBSITES, INCLUDING THE MEMBERSHIP SITE FOR THE RECORDING ACADEMY AND ON GRAMMYFOUNDATION.ORG.ENTERTAINMENT LAW INITIATIVE SPENDING:: $218,064 REVENUE: $46,690THE GRAMMY FOUNDATION'S ENTERTAINMENT LAW INITIATIVE (ELI) WAS CONCEIVED IN 1998 AND DESIGNED TO FORGE A CONNECTION BETWEEN THE CREATIVE, TECHNICAL AND LEGAL COMMUNITIES WITH THE GOAL OF PROMOTING DISCUSSION AND DEBATE ABOUT COMPELLING LEGAL ISSUES FACING THE MUSIC INDUSTRY TODAY. ONE OF THE PREMIER EDUCATIONAL INITIATIVES OF ELI IS THE NATIONAL LEGAL WRITING CONTEST AND SCHOLARSHIP PROGRAM, WHICH AWARDS $11,000 IN SCHOLARSHIPS AND IS CO-SPONSORED BY THE AMERICAN BAR ASSOCIATION. LAW STUDENTS FROM ACROSS THE COUNTRY ARE INVITED TO RESEARCH, ANALYZE AND SUBMIT ESSAYS REGARDING IMPORTANT ISSUES FACING THE ENTERTAINMENT INDUSTRY.CONSISTING OF TWO MAIN COMPONENTS, A WRITING COMPETITION AND A LUNCHEON, ELI INVITES ENTERTAINMENT LAW STUDENTS TO WRITE A 3,000-WORD ESSAY ON A LEGAL TOPIC FACING THE MUSIC INDUSTRY TODAY. AT THE LUNCHEON, A SUBSTANTIAL CASH SCHOLARSHIP OF $5,000 WAS AWARDED TO THE AUTHOR OF THE WINNING PAPER, AND $1,500 WAS AWARDED TO EACH OF FOUR RUNNERS-UP. THIS HIGH-PROFILE LUNCHEON PROVIDES INVALUABLE NETWORKING AND EDUCATIONAL OPPORTUNITIES TO THE NATION'S TOP LAW STUDENTS. ADDITIONALLY, THE ELI FINALISTS' PAPERS ARE PUBLISHED IN A MAJOR LEGAL JOURNAL AND EACH WINNER WILL RECEIVE AIRFARE, HOTEL ACCOMMODATIONS, AND A TICKET TO THE ANNUAL GRAMMY AWARDS TELECAST, AS WELL AS INVITATIONS TO OTHER GRAMMY WEEK ACTIVITIES.GRAMMY FOUNDATION SPENDING:$351,688 INCLUDING GRANTS $270,820 REVENUE:$0THE GRAMMY FOUNDATION GRANT PROGRAM, WITH FUNDING PROVIDED BY THE RECORDING ACADEMY, AWARDS GRANTS TO ORGANIZATIONS AND INDIVIDUALS IN TWO CATEGORIES: SCIENTIFIC RESEARCH STUDIES THAT ADVANCE OUR KNOWLEDGE OF THE IMPACT OF MUSIC ON THE HUMAN CONDITION, AND ARCHIVE PROJECTS DESIGNED TO PRESERVE THE MUSIC AND RECORDED SOUND HERITAGE OF THE AMERICAS FOR FUTURE GENERATIONS. THE GRANT PROGRAM CONTINUES TO GARNER MORE QUALIFIED APPLICATIONS EACH YEAR, WHICH EXPANDS ITS ABILITY TO FUND OUTSTANDING, MEANINGFUL, AND DIVERSE PROJECTS. IN 2015, GRANTS WERE AWARDED TO 14 RECIPIENTS IN THE UNITED STATES. RESEARCH PROJECTS INCLUDE A STUDY THAT WILL INVESTIGATE THE IMPACT OF LISTENING TO MUSIC AND HOW IT IS ASSOCIATED WITH EMOTIONAL REGULATION IN SERVICE MEMBERS WITH POST-TRAUMATIC STRESS DISORDER, AND A STUDY THAT WILL RESEARCH A MUSICAL BIOFEEDBACK-BASED INTERVENTION FOR EPILEPSY. PRESERVATION AND ARCHIVING INITIATIVES INCLUDE THE ASSESSMENT OF HALIM ABDEL MESSIEH EL-DABH'S LIFE'S WORK IN ELECTRONIC MUSIC PRODUCTION AS WELL AS A PROJECT PRESERVING COMEDY PIONEER LENNY BRUCE'S PERSONAL TAPES.IN 2015, THE GRAMMY FOUNDATION AWARDED $200,000 IN FUNDING. SINCE ITS INCEPTION IN 1987 THE GRANTS PROGRAM HAS AWARDED MORE THAN $6 MILLION TO OVER 300 NOTEWORTHY PROJECTS.OUTREACH ACTIVITIES SPENDING: $332,169 REVENUE: $71,124THE GRAMMY FOUNDATION'S OUTREACH ACTIVITIES THROUGHOUT THE YEAR CONTINUE TO RAISE AWARENESS FOR OUR MUSIC EDUCATION PROGRAMS AND PRESERVATION AND ADVANCEMENT INITIATIVES. THESE EFFORTS INCLUDE PARTICIPATION IN VARIOUS MUSIC FESTIVALS, PANELS AND CONFERENCES IN ADDITION TO PARTNERSHIPS WITH THE AMERICAN FEDERATION OF TEACHERS, THE NATIONAL PTA, THE NATIONAL EDUCATORS ASSOCIATION, THE NATIONAL ASSOCIATION FOR MUSIC EDUCATION AND THE LIBRARY OF CONGRESS.
4d Other program services (Describe in Schedule O.)
(Expenses $ 1,779,353 including grants of $ 270,820 ) (Revenue $ 111,858 )
4e Total program service expensesMediumBullet3,428,786
Form 990 (2014)
Form 990 (2014)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment........................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors (see instructions)? Click to see attachment...
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II........
4
 
No
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If "Yes," complete Schedule C,
Part III............................
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes," complete Schedule D, Part III Click to see attachment....................
8
 
No
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment..............
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If "Yes," complete Schedule D, Part VClick to see attachment......
10
Yes
 
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10?
If "Yes," complete Schedule D, Part VI.Click to see attachment...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment.......
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment............
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment.........................
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year?
If "Yes," complete Schedule D, Parts XI and XII Click to see attachment.................
12a
Yes
 
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
12b
 
No
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E....
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?.....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV......... Click to see attachment
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IVClick to see attachment
15
Yes
 
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV... Click to see attachment
16
 
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I (see instructions) .... Click to see attachment
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............ Click to see attachment
18
Yes
 
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III................... Click to see attachment
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
Form 990 (2014)
Form 990 (2014)
Page 4
Part IV
Checklist of Required Schedules (continued)
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.. Click to see attachment
21
Yes
 
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........ Click to see attachment
22
Yes
 
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5 about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a................
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
 
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I....
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I...................
25b
 
No
26
Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? If "Yes," complete Schedule L, Part II................
26
 
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part III.........
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If "Yes," complete Schedule L, Part IV ..........................
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If "Yes,"
complete Schedule L, Part IV.....................
28b
 
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner? If "Yes," complete Schedule L, Part IV...
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..Click to see attachment
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M............. Click to see attachment
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I........
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1........................
34
 
No
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
 
No
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2...
35b
 
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2.............
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VI
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2014)
Form 990 (2014)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V ..............
Yes
No
1a
Enter the number reported in Box 3 of Form 1096 Enter -0- if not applicable ..
1a
124
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
19
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?..........................
4a
 
No
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
Yes
 
b
If "Yes," did the organization notify the donor of the value of the goods or services provided?.....
7b
Yes
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
0
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?............................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?............................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds.
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?.........................
8
 
 
9a
Did the sponsoring organization make any taxable distributions under section 4966?...
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year. ....................
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
Form 990 (2014)
Form 990 (2014)
Page 6
Part VI
Governance, Management, and Disclosure For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI ..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year .....................
1a
19
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent ...................
1b
19
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? ...........................
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
 
No
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe in Schedule O how this was done.......................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process in Schedule O (see instructions).
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
CA , IL , NJ , NY , TN
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
MediumBulletJUDY WONG

3030 OLYMPIC BLVD
SANTA MONICA,CA90404 (310) 392-3777
Form 990 (2014)
Form 990 (2014)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII ..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) CHRISTINE ALBERT........................................................................
DIRECTOR (AUGUST 2014 - JUNE 2015)
 1.00
.......................   		X           0 0 0
(2) PAMELA ALEXANDER........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(3) RACHNA BHASIN........................................................................
SECRETARY/TREASURER
 1.00
.......................   		X   X       0 0 0
(4) DARRELL BROWN........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(5) TIM BUCHER........................................................................
CHAIR
 1.00
.......................   		X   X       0 0 0
(6) TROY CARTER........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(7) DAN CHERRY........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(8) GREG CHIN........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(9) GEOFF COTTRILL........................................................................
VICE CHAIR
 1.00
.......................   		X   X       0 0 0
(10) DAVID DORN........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(11) GEORGE J FLANIGEN IV........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(12) ETHIOPIA HABTEMARIAM........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(13) JOHN HAMM........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(14) MICHAL KATZ........................................................................
DIRECTOR (JUNE 2015-JULY 2015)
 1.00
.......................   		X           0 0 0
(15) AMANDA MARKS........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(16) JEANNE MEYER........................................................................
DIRECTOR (AUGUST 2014 - JUNE 2015)
 1.00
.......................   		X           0 0 0
(17) ELIZABETH MOODY........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
Form 990 (2014)
Form 990 (2014)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) JOHN POPPO........................................................................
DIRECTOR (JUNE 2015 - JULY 2015)
 1.00
.......................   		X           0 0 0
(19) RUSTY RUEFF........................................................................
CHAIR EMERITUS
 1.00
.......................   		X   X       0 0 0
(20) DAVID WEBSTER........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(21) WILLIAM WILLIAM ADAMS........................................................................
DIRECTOR
 1.00
.......................   		X           0 0 0
(22) NEIL PORTNOW........................................................................
PRESIDENT/CEO
 1.00
.......................   		X   X       0 0 0
(23) KRISTEN MADSEN........................................................................
SENIOR VICE PRESIDENT
 20.00
.......................   		    X       163,131 0 45,684
(24) DAVID SEARS........................................................................
EXECUTIVE DIRECTOR OF EDUCATION
 40.00
.......................   		        X   158,984 0 28,669
(25) KELLY DARR........................................................................
SENIOR DIRECTOR
 40.00
.......................   		        X   119,971 0 13,137
(26) SCOTT GOLDMAN........................................................................
VICE PRESIDENT
 20.00
.......................   		        X   127,157 0 34,005
(27) DANA TOMARKEN........................................................................
VICE PRESIDENT
 20.00
.......................   		        X   123,354 0 0






1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 692,597 0 121,495
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organizationMediumBullet5
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
NARAS

3030 OLYMPIC BOULEVARD
SANTA MONICA,CA90404 		SHARED SERVICES 226,811
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet1
Form 990 (2014)
Form 990 (2014)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII .............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512-514
Contributions, Gifts, GrantAmt and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c  
d Related organizations...1d  
e Government grants (contributions)1e  
f All other contributions, gifts, grants, and
similar amounts not included above1f 		4,277,333
g Noncash contributions included in lines
1a-1f:$ 		62,546
h Total. Add lines 1a-1f.......MediumBullet 4,277,333
Program Service RevenueAmt Business Code
2a GRAMMY CAMP TUITION 611710 143,900 143,900    
b ELI LUNCHEON/PANELS 711300 46,690 46,690    
c LEGACY CONCERT 711130 44,044 44,044    
d GRAMMY JAZZ ENSEMBLES 611710 20,820 20,820    
e GRAMMY CAMP/JAZZ ENSEMBLE FEES 611710 12,400 12,400    
f All other program service revenue .        
g Total. Add lines 2a–2f........MediumBullet 267,854
OtherAmt RevenueAmt 3 Investment income (including dividends, interest, and other similar amounts).......MediumBullet 231,358     231,358
4 Income from investment of tax-exempt bond proceeds..MediumBullet        
5 Royalties...........MediumBullet        
(i) Real (ii) Personal
6a Gross rents    
b Less: rental expenses    
c Rental income or (loss)    
d Net rental income or (loss).......MediumBullet        
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 1,281,647  
b Less: cost or other basis and sales expenses 1,167,293  
c Gain or (loss) 114,354  
d Net gain or (loss)..........MediumBullet 114,354     114,354
8a Gross income from fundraising events (not including
$  
of contributions reported on line 1c). See Part IV, line 18 ..
a 40,000
b Less: direct expenses ...b 6,755
c Net income or (loss) from fundraising events..MediumBullet 33,245   33,245
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet        
10a Gross sales of inventory, less
returns and allowances .
a  
b Less: cost of goods sold ..b  
c Net income or (loss) from sales of inventory..MediumBullet        
Miscellaneous Revenue Business Code
11a ONLINE AUCTIONS 900099 495,288     495,288
b OTHER INCOME 900099 51,900 1,900 50,000  
c GRANT REFUNDS 900099 6,824 6,824    
d All other revenue ....        
e Total. Add lines 11a–11d ...... MediumBullet 554,012
12 Total revenue. See Instructions......MediumBullet 5,478,156 276,578 50,000 874,245
Form 990 (2014)
Form 990 (2014)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX ...............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 441,320 441,320
2 Grants and other assistance to domestic individuals. See Part IV, line 22 .... 34,000 34,000
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16 ............ 20,000 20,000
4 Benefits paid to or for members ....    
5 Compensation of current officers, directors, trustees, and key employees .... 144,840 57,212 79,662 7,966
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....        
7 Other salaries and wages .... 1,516,527 928,420 257,008 331,099
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 117,401 28,184 77,590 11,627
9 Other employee benefits ....... 194,043 109,285 48,965 35,793
10 Payroll taxes ........... 118,799 70,203 22,996 25,600
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 13,151 1,451 473 11,227
c Accounting ........... 58,250   58,250  
d Lobbying ...........        
e Professional fundraising services. See Part IV, line 17    
f Investment management fees ...... 39,069   39,069  
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) .... 740,963 500,812 74,228 165,923
12 Advertising and promotion .... 1,164 213 45 906
13 Office expenses ....... 256,614 233,552 5,134 17,928
14 Information technology ...... 41,244 23,478 8,553 9,213
15 Royalties ..        
16 Occupancy ........... 13,617 6,944 3,771 2,902
17 Travel ............ 567,960 399,418 29,423 139,119
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ......        
19 Conferences, conventions, and meetings ....        
20 Interest ...........        
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .....        
23 Insurance .............. 21,764 11,671 5,043 5,050
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a CATERING 110,216 103,868 3,016 3,332
b PRINTING 93,654 79,276 1,001 13,377
c EVENT SITE RENTAL 70,452 70,452 0 0
d
e All other expenses 375,543 309,027 30,454 36,062
25 Total functional expenses. Add lines 1 through 24e 4,990,591 3,428,786 744,681 817,124
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2014)
Form 990 (2014)
Page 11
Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ............. 500 1 500
2 Savings and temporary cash investments ......... 1,513,814 2 1,796,728
3 Pledges and grants receivable, net ...........   3  
4 Accounts receivable, net ............. 176,542 4 197,493
5 Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..................
  5  
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
  6  
7 Notes and loans receivable, net .............   7  
8 Inventories for sale or use ..............   8  
9 Prepaid expenses and deferred charges .......... 217,385 9 173,010
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 71,479
b Less: accumulated depreciation ..... 10b 71,479 0 10c 0
11 Investments—publicly traded securities ..........   11  
12 Investments—other securities. See Part IV, line 11 ..... 4,856,303 12 4,902,494
13 Investments—program-related. See Part IV, line 11 .....   13  
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 76,404 15 88,975
16 Total assets. Add lines 1 through 15 (must equal line 34)...... 6,840,948 16 7,159,200
Liabilities 17 Accounts payable and accrued expenses ......... 318,089 17 182,640
18 Grants payable .................   18  
19 Deferred revenue ................ 679,062 19 882,775
20 Tax-exempt bond liabilities .............   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D..   21  
22 Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L..........   22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ....   24  
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D.................... 462,310 25 484,954
26 Total liabilities. Add lines 17 through 25......... 1,459,461 26 1,550,369
Net Assets or Fund Balance Organizations that follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets .............. 5,066,235 27 5,341,002
28 Temporarily restricted net assets ........... 315,252 28 267,829
29 Permanently restricted net assets ...........   29 0
Organizations that do not follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds ........   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ........... 5,381,487 33 5,608,831
34 Total liabilities and net assets/fund balances ........ 6,840,948 34 7,159,200
Form 990 (2014)
Form 990 (2014)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI ..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
5,478,156
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
4,990,591
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
487,565
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..
4
5,381,487
5
Net unrealized gains (losses) on investments ...............
5
-260,221
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
0
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, column (B))
10
5,608,831
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII .............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? .................
3a
 
No
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
 
 
Form 990 (2014)
Form 990 (2014)
Page 13
Form 990, Special Condition Description:
Special Condition Description
Form 990 (2014)
Form 990 (2014)
Page 14
Additional Data


Software ID:  
Software Version:  
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ.
right arrow Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
THE NARAS FOUNDATION
 
Employer identification number

95-3199223
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions.
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
a
b
c
d
e
f
Enter the number of supported organizations .............................  
g
Provide the following information about the supported organization(s).
(i)Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 9 above or IRC section (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
Total    

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990EZ.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 2
Part II
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .... 3,633,126 3,393,193 4,239,094 4,406,711 4,277,333 19,949,457
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3 3,633,126 3,393,193 4,239,094 4,406,711 4,277,333 19,949,457
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f).. 9,689,549
6 Public support. Subtract line 5 from line 4. 10,259,908
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
7 Amounts from line 4.. 3,633,126 3,393,193 4,239,094 4,406,711 4,277,333 19,949,457
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... 124,315 121,509 144,302 162,461 231,358 783,945
9 Net income from unrelated business activities, whether or not the business is regularly carried on..         50,000 50,000
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. 383,519 719,991 554,561 795,090 805,042 3,258,203
11 Total support Add lines 7 through 10. 24,041,605
12
12
3,258,203
13
First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here........................................right arrow
Section C. Computation of Public Support Percentage
14
14
42.680 %
15
15
44.340 %
16a
b
17a
b
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......            
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5.            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public support (Subtract line 7c from line 6.)  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) 2014 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.)..            
14
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
b
20
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 11 of Part I. If you checked 11a of Part I, complete Sections A and B. If you checked 11b of Part I, complete Sections A and C. If you checked 11c of Part I, complete Sections A, D, and E. If you checked 11d of Part I, complete Sections A and D, and complete Part V.)
Section A. All Supporting Organizations
Yes
No
1
Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.
1
 
 
2
Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).
2
 
 
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer (b) and (c) below.
3a
 
 
b
Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.
3b
 
 
c
Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.
3c
 
 
4a
Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked 11a or 11b in Part I, answer (b) and (c) below.
4a
 
 
b
Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations....
4b
 
 
c
Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.
4c
 
 
5a
Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer (b) and (c) below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed, (ii) the reasons for each such action, (iii) the authority under the organization's organizing document authorizing such action, and (iv) how the action was accomplished (such as by amendment to the organizing document).
5a
 
 
b
Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (a) its supported organizations; (b) individuals that are part of the charitable class benefited by one or more of its supported organizations; or (c) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.
6
 
 
7
Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in IRC 4958(c)(3)(C)), a family member of a substantial contributor, or a 35-percent controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .
7
 
 
8
Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part II of Schedule L (Form 990).
8
 
 
9a
Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.
9a
 
 
b
Did one or more disqualified persons (as defined in line 9(a)) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.
9b
 
 
c
Did a disqualified person (as defined in line 9(a)) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.
9c
 
 
10a
Was the organization subject to the excess business holdings rules of IRC 4943 because of IRC 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer b below.
10a
 
 
b
Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).
10b
 
 
11
Has the organization accepted a gift or contribution from any of the following persons?
a
A person who directly or indirectly controls, either alone or together with persons described in (b) and (c) below, the governing body of a supported organization?
11a
 
 
b
A family member of a person described in (a) above?
11b
 
 
c
A 35% controlled entity of a person described in (a) or (b) above? If “Yes” to a, b, or c, provide detail in Part VI.
11c
 
 
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 5
Part IV
Supporting Organizations (continued)

Section B. Type I Supporting Organizations
Yes
No
1
Did the directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.
1
 
 
2
Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.
2
 
 
Section C. Type II Supporting Organizations
Yes
No
1
Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (1) a written notice describing the type and amount of support provided during the prior tax year, (2) a copy of the Form 990 that was most recently filed as of the date of notification, and (3) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?
1
 
 
2
Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).
2
 
 
3
By reason of the relationship described in (2), did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer (a) and (b) below.
Yes
No
a
Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.
2a
 
 
b
Did the activities described in (a) constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.
2b
 
 
3
Parent of Supported Organizations. Answer (a) and (b) below.
a
Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations? Provide details in Part VI.
3a
 
 
b
Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI the role played by the organization in this regard.
3b
 
 
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 6
Part V – Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

1.   Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970. See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.
Section A - Adjusted Net Income (A) Prior Year (B) Current Year
(optional)
1 Net short-term capital gain 1    
2 Recoveries of prior-year distributions 2    
3 Other gross income (see instructions) 3    
4 Add lines 1 through 3 4    
5 Depreciation and depletion 5    
6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6    
7 Other expenses (see instructions) 7    
8 Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) 8    

Section B - Minimum Asset Amount (A) Prior Year (B) Current Year
(optional)
1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): 1
a Average monthly value of securities 1a    
b Average monthly cash balances 1b    
c Fair market value of other non-exempt-use assets 1c    
d Total (add lines 1a, 1b, and 1c) 1d    
e Discount claimed for blockage or other factors (explain in detail in Part VI):  
2 Acquisition indebtedness applicable to non-exempt use assets 2    
3 Subtract line 2 from line 1d 3    
4 Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions). 4    
5 Net value of non-exempt-use assets (subtract line 4 from line 3) 5    
6 Multiply line 5 by .035 6    
7 Recoveries of prior-year distributions 7    
8 Minimum Asset Amount (add line 7 to line 6) 8    

Section C - Distributable Amount Current Year
1 Adjusted net income for prior year (from Section A, line 8, Column A) 1  
2 Enter 85% of line 1 2  
3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3  
4 Enter greater of line 2 or line 3 4  
5 Income tax imposed in prior year 5  
6 Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) 6  
7   Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)
Schedule A (Form 990 or 990-EZ) 2014
Schedule A (Form 990 or 990-EZ) 2014
Page 7
Section D - Distributions Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity		  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations  
4 Amounts paid to acquire exempt-use assets  
5 Qualified set-aside amounts (prior IRS approval required)  
6 Other distributions (describe in Part VI). See instructions  
7Total annual distributions. Add lines 1 through 6.  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions		  
9 Distributable amount for 2014 from Section C, line 6  
10 Line 8 amount divided by Line 9 amount  

Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2014 		(iii)
Distributable
Amount for 2014
1 Distributable amount for 2014 from Section C, line
6 		 
2 Underdistributions, if any, for years prior to 2014
(reasonable cause required--see instructions)		  
3 Excess distributions carryover, if any, to 2014:
a From 2009.......X
b From 2010.......X
c From 2011.......X
d From 2012.......X
e From 2013.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2014 distributable amount  
i Carryover from 2009 not applied (see
instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from 3f.  
4Distributions for 2014 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2014 distributable amount  
c Remainder. Subtract lines 4a and 4b from 4.  
5 Remaining underdistributions for years prior to
2014, if any. Subtract lines 3g and 4a from line 2
(if amount greater than zero, see instructions)		  
6 Remaining underdistributions for 2014. Subtract
lines 3h and 4b from line 1 (if amount greater than
zero, see instructions)		  
7 Excess distributions carryover to 2015. Add lines
3j and 4c.		  
8 Breakdown of line 7:
a From 2010.......X
b From 2011.......X
c From 2012.......X
d From 2013.......  
e From 2014.......  
Schedule A (Form 990 or 990-EZ) (2014)
Schedule A (Form 990 or 990-EZ) 2014
Page 8
Part VI
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Return Reference Explanation
Schedule A (Form 990 or 990-EZ) 2014

Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Name of the organization
THE NARAS FOUNDATION
 
Employer identification number

95-3199223
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ





Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
Page 2
Name of organization
THE NARAS FOUNDATION
  		Employer identification number

95-3199223
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
RESTRICTED
 
 

   
 
 
  ,    

$RESTRICTED


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
Page 3
Name of organization
THE NARAS FOUNDATION
  		Employer identification number

95-3199223
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Schedule B (Form 990, 990-EZ, or 990-PF) (2014)
Page 4
Name of organization
THE NARAS FOUNDATION
  		Employer identification number

95-3199223
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10)
that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2014)

Additional Data


Software ID:  
Software Version:  
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet Attach to Form 990.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
THE NARAS FOUNDATION
 
Employer identification number

95-3199223
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register .................... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .......................................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958) relating to these items:
a
Revenue included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIII and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII .......
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current year (b)Prior year b (c)Two years back (d)Three years back (e)Four years back
1a Beginning of year balance .... 5,171,555 4,955,037 4,144,939 4,196,185 3,659,038
b Contributions ........          
c Net investment earnings, gains, and losses 1,614,071 1,572,975 2,161,676 1,555,973 1,047,738
d Grants or scholarships .....          
e Other expenditures for facilities
and programs ........ 		1,615,303 1,356,457 1,351,578 1,607,219 510,591
f Administrative expenses ....          
g End of year balance ...... 5,170,323 5,171,555 4,955,037 4,144,939 4,196,185
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet95.000 %
b
Permanent endowment SchDMd Bullet  
c
Temporarily restricted endowment SchDMd Bullet5.000 %
The percentages in lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
 
No
(ii) related organizations ........................
3a(ii)
 
No
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................      
b Buildings ................        
c Leasehold improvements ............        
d Equipment ................        
e Other .................   71,479 71,479 0
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......SchDMdBullet 0
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 3
Part VII
Investments—Other Securities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
(3)Other
(A) EQUITIES 		2,839,377 F

(B) FIXED INCOME 		1,840,485 F

(C) OTHER 		222,120 F

(D) CASH AND CASH EQUIVALENTS 		512 F





Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet 4,902,494
Part VIII
Investments—Program Related. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
Federal income taxes  
PAYABLE TO NARAS 76,430
PAYABLE TO MUSICARES 319,549
DEFERRED COMPENSATION LIABILITY 88,975






Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 484,954
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2014

Schedule D (Form 990) 2014
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1 5,427,062
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a -260,221
b Donated services and use of facilities ......... 2b 215,951
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d ..................... 2e -44,270
3 Subtract line 2e from line 1..................... 3 5,471,332
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b 6,824
c Add lines 4a and 4b....................... 4c 6,824
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 5,478,156
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1 5,199,718
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a 215,951
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d...................... 2e 215,951
3 Subtract line 2e from line 1..................... 3 4,983,767
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ............ 4b 6,824
c Add lines 4a and 4b....................... 4c 6,824
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 4,990,591
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
PART V, LINE 4: TO PROVIDE EARNINGS FOR FUTURE OPERATING AND PROGRAM NEEDS.
PART X, LINE 2: THE GRAMMY FOUNDATION ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES. ASC 740 PRESCRIBES A COMPREHENSIVE MODEL FOR HOW A COMPANY SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT THE COMPANY HAS TAKEN, OR EXPECTS TO TAKE, ON A TAX RETURN. DURING THE YEARS ENDED JULY 31, 2015 AND JULY 2014, THE GRAMMY FOUNDATION DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS.
PART XI, LINE 4B - OTHER ADJUSTMENTS: REFUNDS OF UNUSED AWARDED GRANTS FROM PRIOR YEARS
PART XII, LINE 4B - OTHER ADJUSTMENTS: REFUNDS OF UNUSED AWARDED GRANTS FROM PRIOR YEARS
Schedule D (Form 990) 2014

Additional Data


Software ID:  
Software Version:  




SCHEDULE F(Form 990)
Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right pointing arrow large image Complete if the organization answered "Yes" to Form 990,Part IV, line 14b, 15, or 16.Right pointing arrow large image Attach to Form 990.Right pointing arrow large image Information about Schedule F (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
THE NARAS FOUNDATION
 
Employer identification number

95-3199223
Part I
General Information on Activities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of its grants
and other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria
used to award the grants or assistance? ...........................
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.
3
Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in region (d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in region		 (f) Total expenditures
for and investments
in region
NORTH AMERICA 0 0 PROGRAM SERVICES MUSIC RESEARCH GRANT 20,000
           
           
           
           
           
           
           
           
           
           
           
           
           
           
           
           
3a Sub-total ..... 0 0 20,000
b Total from continuation sheets to Part I ... 0 0 0
c Totals (add lines 3a and 3b) 0 0 20,000
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (a)(c) Region (b)(d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount
of non-cash
assistance 		(h) Description
of non-cash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
NORTH AMERICA MUSIC RESEARCH GRANT 20,000 CHECK      
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
2 Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter ....MediumBullet
1
3
Enter total number of other organizations or entities .......................MediumBullet
0
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
non-cash
assistance 		(g) Description
of non-cash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes,"the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926)......................................
2 Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; do not file with Form 990)............................
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471)..............................
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621)...............................................
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships. (see Instructions for Form 8865)....................................
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see Instructions for Form 5713; do not file with Form 990).....................................
Schedule F (Form 990) 2014
Schedule F (Form 990) 2014
Page 5
Part V
Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions).
ReturnReference Explanation
PART I, LINE 2: GRANT RECIPIENTS ARE REQUIRED TO SUBMIT AN APPLICATION THAT FOLLOWS GRAMMY FOUNDATION GUIDELINES WHICH INCLUDES FINANCIAL INFORMATION, ORGANIZATIONAL INFORMATION, AND LETTERS OF RECOMMENDATION AND SUPPORT. SELECTION CRITERIA INCLUDES BOTH A PEER AND A GRANT COMMITTEE REVIEW OF THE PROJECT. AT THE COMPLETION OF THE PROJECT, GRANT RECIPIENTS ARE REQUIRED TO PROVIDE A FINAL NARRATIVE REPORT DETAILING THE PROJECT AND ITS RESULTS AS WELL AS A FINAL BUDGET REPORT SHOWING ACTUAL FIGURES AND INDICATING HOW THE FOUNDATION'S FUNDS WERE ALLOCATED.
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule F (Form 990) 2014
Additional Data


Software ID:  
Software Version:  



SCHEDULE G (Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information Regarding
Fundraising or Gaming Activities
Complete if the organization answered "Yes" to Form 990, Part IV, lines 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a. right arrowAttach to Form 990 or Form 990-EZ.
right arrowInformation about Schedule G (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
THE NARAS FOUNDATION
 
Employer identification number

95-3199223
Part I
Fundraising Activities. Complete if the organization answered "Yes" to Form 990, Part IV, line 17. Form 990-EZ
filers are not required to complete this part.
1
Indicate whether the organization raised funds through any of the following activities. Check all that apply.
a e
b f
c g
d
2a
Did the organization have a written or oral agreement with any individual (including officers, directors, trustees
or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?
b
If "Yes," list the ten highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization.
(i) Name and address of individual
or entity (fundraiser) 		(ii) Activity (iii) Did fundraiser have custody or control of contributions? (iv) Gross receipts
from activity 		(v) Amount paid to
(or retained by)
fundraiser listed in
col. (i) 		(vi) Amount paid to
(or retained by)
organization
Yes No
             
             
             
             
             
             
             
             
             
             
Total .................right arrow      
3
List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.
For Paperwork Reduction Act Notice, see the Instructions for Form 990or 990-EZ.
Cat. No. 50083H
Schedule G (Form 990 or 990-EZ) 2014
Schedule G (Form 990 or 990-EZ) 2014
Page 2
Part II
Fundraising Events. Complete if the organization answered "Yes" to Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000.
(a) Event #1

JACKSON BROWNE
(event type) 		(b) Event #2

 
(event type) 		(c) Other events

 
(total number) 		(d) Total events
(add col. (a) through col. (c))
VerticalRevenue 1 Gross receipts . . . 40,000     40,000
2 Less: Contributions . .        
3 Gross income (line 1
minus line 2) . . . 		40,000     40,000
VerticalDirectExpenses 4 Cash prizes . . .        
5 Noncash prizes . .        
6 Rent/facility costs . .        
7 Food and beverages .        
8 Entertainment . . .        
9 Other direct expenses . 6,755     6,755
10 Direct expense summary. Add lines 4 through 9 in column (d) ........... right arrow 6,755
11 Net income summary. Subtract line 10 from line 3, column (d)........... right arrow 33,245
Part III
Gaming. Complete if the organization answered "Yes" to Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.
VerticalRevenue (a) Bingo (b) Pull tabs/Instant
bingo/progressive bingo 		(c) Other gaming (d) Total gaming (add col.(a) through col.(c))
1 Gross revenue . . . .        
VerticalDirectExpenses 2 Cash prizes . . . .        
3 Non-cash prizes . . .        
4 Rent/facility costs . . .        
5 Other direct expenses . .        
6 Volunteer labor . . .
%
%
%
7 Direct expense summary. Add lines 2 through 5 in column (d) ........... right arrow  
8 Net gaming income summary. Subtract line 7 from line 1, column (d) ......... right arrow  
9
Enter the state(s) in which the organization conducts gaming activities:
a
Is the organization licensed to conduct gaming activities in each of these states? ............
b
If "No," explain:
 
10a
Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? .....
b
If "Yes," explain:
 
Schedule G (Form 990 or 990-EZ) 2014
Schedule G (Form 990 or 990-EZ) 2014
Page 3
11
Does the organization conduct gaming activities with nonmembers? .................
12
Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity
formed to administer charitable gaming? ..........................
13
Indicate the percentage of gaming activities conducted in:
a
The organization's facility ......................
13a
%
b
An outside facility ........................
13b
%
14
Enter the name and address of the person who prepares the organization's gaming/special events books and records:
Name right arrow
Address right arrow
15a
Does the organization have a contract with a third party from whom the organization receives gaming
revenue? ......................................
b
If "Yes," enter the amount of gaming revenue received by the organization right arrow $   and the
amount of gaming revenue retained by the third party right arrow $  
c
If "Yes," enter name and address of the third party:
Name right arrow
Address right arrow
 
 
16
Gaming manager information:
Name right arrow
Gaming manager compensation right arrow $  
Description of services provided right arrow
 
17
Mandatory distributions:
a
Is the organization required under state law to make charitable distributions from the gaming proceeds to
retain the state gaming license? ............................
b
Enter the amount of distributions required under state law distributed to other exempt organizations or spent
in the organization's own exempt activities during the tax year right arrow$  
Part IV
Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v), and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also provide any additional information (see instructions).
Return Reference Explanation
Schedule G (Form 990 or 990-EZ) 2014
Additional Data


Software ID:  
Software Version:  
Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Information about Schedule I (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
THE NARAS FOUNDATION
 
Employer identification number
95-3199223
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21, for any recipient that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance
(1) APPALSHOP INC
91 MADISON AVENUE
WHITESBURG,KY41858 		61-0890210 501(C)(3) 10,000       PRESERVATION GRANT
(2) ARHOOLIE FOUNDATION
10341 SAN PABLO AVENUE
EL CERRITO,CA94530 		68-0351651 501(C)(3) 12,200       PRESERVATION GRANT
(3) ASSOCIATION FOR CULTURAL EQUITY
425 E 25TH STREET ROOM 1000
NEW YORK,NY10010 		13-3168746 501(C)(3) 20,000       PRESERVATION GRANT
(4) DREXEL UNIVERSITY
3201 ARCH STREET SUITE 420
PHILADELPHIA,PA19104 		23-1352630 501(C)(3) 20,000       RESEARCH GRANT
(5) NEW YORK UNIVERSITY
545 FIRST AVENUE
NEW YORK,NY10016 		13-5562308 501(C)(3) 20,000       RESEARCH GRANT
(6) WESLEYAN UNIVERSITY
237 HIGH STREET
MIDDLETOWN,CT06459 		06-0646959 501(C)(3) 20,000       RESEARCH GRANT
(7) CREATIVE MUSIC FOUNDATION INC
35 BIRCH LANE
WOODSTOCK,NY12498 		23-7390187 501(C)(3) 13,720       PRESERVATION GRANT
(8) THE GREAT AMERICAN SONGBOOK FOUNDATION INC
ONE CENTER GREEN
CARMEL,IN46032 		26-0620716 501(C)(3) 10,000       PRESERVATION GRANT
(9) BOSTON SYMPHONY ORCHESTRA INC
301 MASSACHUSETTS AVENUE
BOSTON,MA02115 		04-2103550 501(C)(3) 10,000       PRESERVATION GRANT
(10) BRANDEIS UNIVERSITY
415 SOUTH STREET
WALTHAM,MA02454 		04-2103552 501(C)(3) 20,000       PRESERVATION GRANT
(11) UNIVERSITY OF NORTH TEXAS
1155 UNION CIRCLE 311247
DENTON,TX76203 		23-7232618 501(C)(3) 16,650       PRESERVATION GRANT
(12) CHEROKEE NATIONAL YOUTH CHOIR
PO BOX 948
TAHLEQUAH,OK74465 		115 10,000       MUSIC PROGRAM GRANT
(13) FARM AID INC
501 CAMBRIDGE STREET 3RD FL
CAMBRIDGE,MA02141 		36-3383233 501(C)(3) 15,000       LEGACY CONCERT GRANT
(14) WINDHAM HIGH SCHOOL
19 HAVERHILL ROAD
WINDHAM,NC03087 		115 10,000       MUSIC EDUCATOR AWARD WINNER
(15) ALLENDALE PUBLIC SCHOOLS
10760 68TH AVENUE
ALLENDALE,MI49401 		115 5,500       GRAMMY SIGNATURE SCHOOL ENTERPRISE AWARD
(16) CCSD - CANYON SPRINGS HIGH SCHOOL
2832 EAST FLAMINGO ROAD
LAS VEGAS,NV89121 		115 5,500       GRAMMY SIGNATURE SCHOOL ENTERPRISE AWARD
(17) MARGARITA MUNIZ ACADEMY FOUNDATION
20 CHILD STREET
JAMAICA PLAIN,MA02130 		80-0827704 501(C)(3) 5,500       GRAMMY SIGNATURE SCHOOL ENTERPRISE AWARD
(18) OSBOURN HIGH SCHOOL
9005 TUDOR LANE
MANASSAS,VA20110 		115 5,500       GRAMMY SIGNATURE SCHOOL ENTERPRISE AWARD
(19) PHILLIP & SALA BURTON HIGH SCHOOL
400 MANSELL STREET
SAN FRANCISCO,CA94134 		115 5,500       GRAMMY SIGNATURE SCHOOL ENTERPRISE AWARD
(20) SUMTER SCHOOL DISTRICT
1345 WILSON HALL ROAD
SUMTER,SC29150 		115 5,500       GRAMMY SIGNATURE SCHOOL ENTERPRISE AWARD
(21) BAND BOOSTERS ASSOC OF PLEASURE RIDGE PARK
5901 GREENWOOD ROAD
LOUISVILLE,KY40258 		61-6041266 501(C)(3) 5,500       GRAMMY SIGNATURE SCHOOL ENTERPRISE AWARD
(22) GAMP PARENT & ALUMNI ORG
2136 W RITNER STREET
PHILADELPHIA,PA19145 		26-2219136 501(C)(3) 5,500       GRAMMY SIGNATURE SCHOOL ENTERPRISE AWARD
(23) TRUSTEES OF INDIANA UNIVERSITY
DEPT 78867 PO BOX 78000
DETROIT,MI482780867 		115 5,000       PRESERVATION GRANT
(24) AN MCCALLUM HIGH SCHOOL
1111 WEST 6TH STREET SUITE A370
AUSTIN,TX78703 		115 5,000       GRAMMY SIGNATURE SCHOOL NATIONAL AWARD
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................ Bullet Image
15
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
9
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2014

Schedule I (Form 990) 2014
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance
(1) MUSIC EDUCATOR AWARD WINNER 9 18,000      
(2) PRESERVATION GRANT 1 5,000      
(3) ENTERTAINMENT LAW INITIATIVE SCHOLARSHIP WINNER 5 11,000      








Part IV
Supplemental Information. Provide the information required in Part I, line 2, Part III, column (b), and any other additional information.
Return Reference Explanation
PART I, LINE 2: AT THE COMPLETION OF THE PROJECT, GRANT RECIPIENTS ARE REQUIRED TO PROVIDE A FINAL NARRATIVE REPORT DETAILING THE PROJECT AND ITS RESULTS AS WELL AS A FINAL BUDGET REPORT SHOWING ACTUAL FIGURES AND INDICATING HOW THE FOUNDATION'S FUNDS WERE ALLOCATED.
Schedule I (Form 990) 2014


Additional Data


Software ID:  
Software Version:  


Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 23.
SchJMediumBullet Attach to Form 990.
SchJMediumBullet Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
THE NARAS FOUNDATION
 
Employer identification number

95-3199223
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain....
1b
 
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a? ..
2
 
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ................
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
No
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
No
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
No
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2014

Schedule J (Form 990) 2014
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column(B) reported as deferred in prior Form 990
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
1KRISTEN MADSENSENIOR VICE PRESIDENT (i)
(ii)		 156,337
...............................
0 		875
...............................
0 		5,919
...............................
0 		23,000
...............................
0 		22,684
...............................
0 		208,815
...............................
0 		0
...............................
0
2DAVID SEARSEXECUTIVE DIRECTOR OF EDUCATION (i)
(ii)		 152,539
...............................
0 		1,000
...............................
0 		5,445
...............................
0 		14,211
...............................
0 		14,458
...............................
0 		187,653
...............................
0 		0
...............................
0
3SCOTT GOLDMANVICE PRESIDENT (i)
(ii)		 102,401
...............................
0 		875
...............................
0 		23,881
...............................
0 		23,000
...............................
0 		11,005
...............................
0 		161,162
...............................
0 		0
...............................
0
Schedule J (Form 990) 2014

Schedule J (Form 990) 2014
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.
Return Reference Explanation
Schedule J (Form 990) 2014

Additional Data


Software ID:  
Software Version:  
SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
Noncash Contributions
Right pointing arrow large imageComplete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
Right pointing arrow large imageInformation about Schedule M (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
THE NARAS FOUNDATION
 
Employer identification number

95-3199223
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of contributions or items contributed 		(c)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
noncash contribution amounts
1 Art—Works of art ....        
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications ..      
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded .        
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		       
12 Securities—Miscellaneous ..        
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		       
15 Real estate—Residential .        
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( GRAMMY TICKETS ) X 1 29,750 COST OR SELLING PRIC
26 Other Right pointing arrow large image ( MERCHANDISE ) X 9 19,291 COST OR SELLING PRIC
27 Other Right pointing arrow large image ( BEVERAGES ) X 1 7,231 COST OR SELLING PRIC
28 Other Right pointing arrow large image ( EQUIPMENT ) X 1 6,274 COST OR SELLING PRIC
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement ...
29
0
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that
it must hold for at least three years from the date of the initial contribution, and which is not required to be used
for exempt purposes for the entire holding period? ..................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any non-standard contributions?
31
 
No
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash
contributions? ..........................
32a
Yes
 
b
If "Yes," describe in Part II.
33
If the organization did not report an amount in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) (2014)
Schedule M (Form 990) (2014)
Page 2
Part II
Supplemental Information. Provide the information required by Part I, lines 30b,
32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.
Return Reference Explanation
PART I, COLUMN (B): COLUMN "B" REFERS TO THE NUMBER OF CONTRIBUTORS. FORM 8283 WAS NOT PROVIDED BY DONOR. DONOR PROVIDED EITHER AN INVOICE NOTING THE DONATED SERVICES OR FILLED OUT OUR "DONOR FORM".
PART I, LINE 32B: GRAMMY FOUNDATION USES AN AUCTION HOUSE (JULIEN'S AUCTIONS) AND/OR ONLINE AUCTION COMPANIES SUCH AS KOMPOLT AND CHARITY BUZZ TO SELL DONATED AUCTION ITEMS ON THE ORGANIZATION'S BEHALF.
Schedule M (Form 990) (2014)
Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public
Inspection
Name of the organization
THE NARAS FOUNDATION
 
Employer identification number

95-3199223
Return Reference Explanation
FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS COMPRISED SOLELY OF NO LESS THAN FOUR DIRECTORS, ONE OF WHOM SHALL BE A REPRESENTATIVE CHOSEN BY NARAS, AND WHOSE NUMBER SHALL BE FIXED FROM TIME TO TIME BY THE BOARD. THE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE ELECTED TO A ONE-YEAR TERM BY VOTE OF THE MAJORITY OF THE ENTIRE BOARD AT THE ANNUAL MEETING OF THE BOARD (OR AT SUCH OTHER MEETING AS MAY BE SELECTED BY THE BOARD) ACTING UPON THE RECOMMENDATIONS OF THE NOMINATING COMMITTEE; PROVIDED, HOWEVER THAT THE CHAIR (WHO SHALL SERVE AS CHAIR OF THE EXECUTIVE COMMITTEE), VICE CHAIR AND SECRETARY/TREASURER SHALL SERVE EX OFFICIO AS VOTING MEMBERS OF THE EXECUTIVE COMMITTEE. THE PRESIDENT SHALL SERVE EX OFFICIO AS A NON-VOTING MEMBER OF THE EXECUTIVE COMMITTEE. ADDITIONAL MEMBERS OF THE EXECUTIVE COMMITTEE MAY BE RECOMMENDED BY THE NOMINATING COMMITTEE FROM TIME TO TIME. DURING THOSE PERIODS WHEN THE BOARD IS NOT IN SESSION, THE EXECUTIVE COMMITTEE SHALL HAVE THE POWER TO ACT WITH THE FULL AUTHORITY OF THE BOARD AND SHALL EXERCISE GENERAL SUPERVISION OF THE AFFAIRS OF FOUNDATION, AND IN ALL EVENTS SHALL BE AUTHORIZED TO ADDRESS MATTERS OF A SENSITIVE, CONFIDENTIAL NATURE, TO THE EXTENT PERMITTED BY DELAWARE GENERAL CORPORATION LAW. ANY ACTION TAKEN BY THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE BOARD AS SOON AS IS PRACTICABLE.
FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS PREPARED BY DELOITTE TAX, LLP, WORKING IN CONJUNCTION WITH GRAMMY FOUNDATION'S FINANCE DEPARTMENT. THE DRAFT OF THE FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT. THE INITIAL DRAFT OF THE FORM 990 IS THEN PROVIDED TO GRAMMY FOUNDATION'S FINANCE COMMITTEE FOR THEIR REVIEW. ANY COMMENTS RESULTING FROM THEIR REVIEW ARE INCORPORATED INTO THE FINAL FILING OF THE FORM 990.
FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY AND QUESTIONNAIRE IS PRESENTED TO BOARD MEMBERS ON AN ANNUAL BASIS. THE RESPONSES ARE MAINTAINED BY THE DIRECTOR OF CORPORATE CONTRACTS AND CORPORATE SECRETARY OF NARAS. THE CONFLICT OF INTEREST POLICY IS MONITORED AND ENFORCED BY BOTH THE SENIOR VICE PRESIDENT AND THE CHAIRPERSON OF THE BOARD.
FORM 990, PART VI, SECTION B, LINE 15 ON A BI-ANNUAL BASIS, MANAGEMENT PREPARES AN ANALYTICAL STUDY OF EXECUTIVE COMPENSATION THAT COMPARES THE COMPENSATION PAID TO EXECUTIVES IN SIMILAR TAX-EXEMPT ORGANIZATIONS OF SIMILAR ACTIVITIES AND SIZE, USING THE AMOUNTS REPORTED ON THE FORM 990 FOR THESE SIMILAR ORGANIZATIONS. THE PROCESS IS OVERSEEN BY THE SENIOR VICE PRESIDENT, WITH INPUT FROM OUR INDEPENDENT PUBLIC ACCOUNTING FIRM. THIS STUDY IS THEN PROVIDED TO THE ORGANIZATION'S AUDIT COMMITTEE FOR REVIEW. THE PROCESS TO DETERMINE THE SENIOR VICE PRESIDENT'S COMPENSATION IS THE SAME, AND IT IS OVERSEEN BY THE PRESIDENT AND CEO OF GRAMMY FOUNDATION IN CONSULTATION WITH THE CHAIR OF THE BOARD. THE PRESIDENT AND CEO OF GRAMMY FOUNDATION IS ALSO THE PRESIDENT AND CEO OF NARAS, AN AFFLIATED TAX EXEMPT ORGANIZATION. THE PRESIDENT AND CEO IS PAID ENTIRELY BY NARAS AND IS SUBJECT TO THE COMPENSATION POLICIES SET FORTH FOR THAT TAX EXEMPT ORGANIZATION.
FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST.
FORM 990, PART VII: ALL OF NEIL PORTNOW'S COMPENSATION IS PAID BY NARAS, AN AFFILIATED EXEMPT ORGANIZATION, FOR HIS SERVICES TO THEM. HIS SERVICES TO THE GRAMMY FOUNDATION ARE AS A VOLUNTEER. HE IS NOT COMPENSATED BY THE GRAMMY FOUNDATION FOR ANY OF HIS WORK AS ITS PRESIDENT AND CEO.
FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 390,910. MANAGEMENT AND GENERAL EXPENSES 66,961. FUNDRAISING EXPENSES 119,870. TOTAL EXPENSES 577,741. LAYOUT & DESIGN: PROGRAM SERVICE EXPENSES 31,563. MANAGEMENT AND GENERAL EXPENSES 100. FUNDRAISING EXPENSES 5,285. TOTAL EXPENSES 36,948. PUBLIC RELATIONS: PROGRAM SERVICE EXPENSES 21,325. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 550. TOTAL EXPENSES 21,875. PHOTOGRAPHY: PROGRAM SERVICE EXPENSES 18,199. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 400. TOTAL EXPENSES 18,599. COMMISSIONS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 24,727. TOTAL EXPENSES 24,727. COMPUTER PROGRAMMING & CONSULTING: PROGRAM SERVICE EXPENSES 8,198. MANAGEMENT AND GENERAL EXPENSES 4,230. FUNDRAISING EXPENSES 11,989. TOTAL EXPENSES 24,417. SECURITY: PROGRAM SERVICE EXPENSES 24,597. MANAGEMENT AND GENERAL EXPENSES 2,937. FUNDRAISING EXPENSES 2,352. TOTAL EXPENSES 29,886. TRANSCRIPTION: PROGRAM SERVICE EXPENSES 6,020. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,020. EDITORIAL PRODUCTION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 750. TOTAL EXPENSES 750.
FORM 990, PART IV, LINE 34 FOR GAAP PURPOSES, GRAMMY FOUNDATION IS AFFILIATED WITH NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES, INC. ("NARAS"), MUSICARES FOUNDATION, INC., GRAMMY MUSEUM FOUNDATION, INC., NARAS PROPERTIES, INC., THE LATIN ACADEMY OF RECORDING ARTS & SCIENCES ("LARAS") AND LATIN GRAMMY CULTURAL FOUNDATION. HOWEVER, THERE IS NOT A MAJORITY BOARD OVERLAP BETWEEN GRAMMY FOUNDATION, INC. AND THESE OTHER EXEMPT ORGANIZATIONS. ACCORDINGLY, THESE ENTITIES ARE NOT TREATED AS RELATED ORGANIZATIONS FOR TAX PURPOSES.
FORM 3115 TANGIBLE PROPERTY REGULATION STATEMENT PURSUANT TO THE SMALL BUSINESS EXCEPTION UNDER SECTION 10.11(6)(B)(III) OF REV. PROC. 2015-20, THE TAXPAYER IS CHANGING TO ADOPT THE FINAL TANGIBLE PROPERTY REGULATIONS PROSPECTIVELY WITH ITS TAX YEAR BEGINNING JANUARY 1, 2014, AND WITHOUT FILING A FORM 3115. SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION TAXPAYER IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER TREAS. REG. 1.263(A)-1(F) FOR ALL ELIGIBLE AMOUNTS PAID OR INCURRED DURING THE TAXABLE YEAR. SECTION 1.263(A)-3(N) CAPITALIZATION ELECTION TAXPAYER HEREBY ELECTS TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER TREAS. REG. 1.263(A)-3(N). THE COSTS WERE INCURRED DURING THE TAXABLE YEAR IN THE ELECTING TAXPAYER'S TRADE OR BUSINESS AND THE ELECTING TAXPAYER TREATS SUCH COSTS AS CAPITAL EXPENDITURES ON ITS BOOKS AND RECORDS.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2014

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