Westrick Music Academy Inc

Analysis

Westrick Music Academy Inc is a registered charity in United States, based in Princeton JCT, NJ. It received its IRS tax-exemption ruling in March 1994, 32 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 August 2023, Westrick Music Academy Inc reported income of $898k and spending of $1000k, spending 111% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $790k to $898k (+14%), an average of +3.3% a year. The sharpest change came in the year to August 2023, when income rose by 16%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Westrick Music Academy Inc 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 81st percentile within NJ. Charities of a similar size with the same main cause include Theatre Y ($898k), Bioscience Los Angeles County Inc ($898k) and Mississippi Heritage Trust ($897k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 24% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $82k (8.2% of expenses). Other salaries and wages came to $289k. At year end it held assets of $1.1m against liabilities of $816k, net assets of $332k. It reported 24 employees.