Opus 118 Harlem School of Music

Analysis

Opus 118 Harlem School of Music is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 1992, 34 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 August 2023, Opus 118 Harlem School of Music reported income of $389k and spending of $384k, spending 99% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $530k to $389k (-26%), an average of -7.4% a year. The sharpest change came in the year to August 2021, when income dropped by 33%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Opus 118 Harlem School of Music sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include Center for Islamophobia Studies ($389k), Csab Inc ($390k) and Huntington Historical Society ($389k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 68% and program service revenue 32% of the total. Other salaries and wages came to $214k. At year end it held assets of $120k against liabilities of $2,556, net assets of $117k. It reported 15 employees.