New School of Music Inc

Analysis

New School of Music Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in November 1976, 50 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, New School of Music Inc reported income of $590k and spending of $545k, spending 92% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $506k to $590k (+17%), an average of +3.9% a year. The sharpest change came in the year to August 2021, when income dropped by 19%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New School of Music Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within MA. Charities of a similar size with the same main cause include Road Less Traveled Productions Ltd ($590k), Trinity Booster Club ($590k) and Access Monterey Peninsula Inc ($590k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 13% and program service revenue 85% of the total. Other salaries and wages came to $350k. At year end it held assets of $439k against liabilities of $171k, net assets of $268k. It reported 33 employees.