Neighborhood Music School Inc

Analysis

Neighborhood Music School Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in February 1950, 76 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 2023, Neighborhood Music School Inc reported income of $4.7m and spending of $4.7m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $4.8m to $4.7m (-2.1%), an average of -0.7% a year. The sharpest change came in the year to June 2022, when income rose by 29%. 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, Neighborhood Music School Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 90th percentile within CT. Charities of a similar size with the same main cause include Jazz House Kids Inc ($4.7m), Toledo Science Center ($4.7m) and Education and Research Consortium of Western North Carolina ($4.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $177k (3.8% of expenses). At year end it held assets of $8.5m against liabilities of $3.5m, net assets of $4.9m. It reported 174 employees.