Northwest Community Music Academy

Analysis

Northwest Community Music Academy is a registered charity in United States, based in Crystal Lake, IL. It received its IRS tax-exemption ruling in January 2007, 19 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Northwest Community Music Academy reported income of $903k and spending of $876k, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $324k to $903k (+179%), an average of +29% a year. The sharpest change came in the year to June 2020, when income rose by 84%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Northwest Community Music Academy sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within IL. Charities of a similar size with the same main cause include Waterbury Symphony Orchestra Inc ($903k), Atlanta Dogwood Festival Inc ($903k) and Heurich House Foundation ($903k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 22% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $84k (9.5% of expenses). Other salaries and wages came to $510k. At year end it held assets of $462k against liabilities of $364k, net assets of $98k. It reported 46 employees.