Suzuki Music School of Westport Inc

Analysis

Suzuki Music School of Westport Inc is a registered charity in United States, based in Westport, CT. It received its IRS tax-exemption ruling in September 1998, 28 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 August 2023, Suzuki Music School of Westport Inc reported income of $1.2m and spending of $1.2m, spending 104% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $1.5m to $1.2m (-18%), an average of -4.8% a year. The sharpest change came in the year to August 2023, when income dropped by 19%. Over the whole period it spent 94% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Suzuki Music School of Westport Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within CT. Charities of a similar size with the same main cause include Neuberger Family Foundation Inc ($1.2m), Watertown Community Foundation Inc ($1.2m) and Bellarmine Benefactors Trust ($1.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 8.4% and program service revenue 89% of the total. Compensation of current officers, directors and key employees was $104k (8.3% of expenses). Other salaries and wages came to $572k. At year end it held assets of $1.8m against liabilities of $1.4m, net assets of $410k. It reported 32 employees.