Brooklyn Music School

Analysis

Brooklyn Music School is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1936, 90 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, Brooklyn Music School reported income of $3.4m and spending of $3.0m, spending 89% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $3.1m to $3.4m (+8.6%), an average of +2.1% a year. The sharpest change came in the year to August 2022, when income rose by 37%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Brooklyn Music School sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include The District Theatre Inc ($3.4m), Belcourt Theatre Inc ($3.4m) and Sarasota Film Society Inc ($3.4m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 57% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $180k (6.0% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $1.8m against liabilities of $64k, net assets of $1.7m. It reported 128 employees.