According to IRS returns (filed under federal non-profit Form 990), SoundExchange was holding the bag on a 'fund balance' of nearly $260 million by the tail end of 2008. Subsequently, SoundExchange executive Laura Williams told Digital Music News that the figure was closer to $200 million at the beginning of 2009 because of ongoing payouts. The organization could not offer more up-to-date figures, due to 'auditing phase' confidentialities.
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Exclusive: SoundExchange Holding Over $200 Million In Unpaid Artist Royalties... - Digital Music News
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