Piano School of New York City Inc

Analysis

Piano School of New York City Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 2003, 23 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 publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Piano School of New York City Inc reported income of $1.1m and spending of $983k, spending 91% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $715k to $1.1m (+51%), an average of +8.5% a year. The sharpest change came in the year to June 2022, when income rose by 73%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Piano School of New York City Inc sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Open Earth Foundation ($1.1m), Friends of the Douglass Theatre Complex Inc ($1.1m) and Friends of Florence ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 5.4% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $134k (14% of expenses). Other salaries and wages came to $630k. At year end it held assets of $456k against liabilities of $74k, net assets of $381k. It reported 132 employees.