Bloomingdale School of Music Inc

Analysis

Bloomingdale School of Music Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 1966, 60 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 June 2023, Bloomingdale School of Music Inc reported income of $3.2m and spending of $2.9m, spending 90% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $3.2m (+33%), an average of +7.4% a year. The sharpest change came in the year to June 2022, when income rose by 26%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bloomingdale School of Music Inc 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 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Ash Registry Inc ($3.2m), Santa Fe Chamber Music Festival Ltd ($3.2m) and Ecole Claire Fontaine ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 47% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $163k (5.6% of expenses). Other salaries and wages came to $1.6m. It paid $30k in professional fundraising fees. At year end it held assets of $2.7m against liabilities of $371k, net assets of $2.4m. It reported 98 employees.