Afro-American Music Institute Inc

Analysis

Afro-American Music Institute Inc is a registered charity in United States, based in Pittsburgh, PA. It received its IRS tax-exemption ruling in February 1993, 33 years ago. 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 2022, Afro-American Music Institute Inc reported income of $1.1m and spending of $330k, leaving 69% of income unspent that year. Across the 4 years on record, from August 2019 to August 2022, income grew from $153k to $1.1m (+594%), an average of +91% a year. The sharpest change came in the year to August 2022, when income rose by 307%. Over the whole period it spent 57% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Afro-American Music Institute Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within PA. Charities of a similar size with the same main cause include Disabled and Alone Life Services for the Handicapped Inc ($1.1m), Loving Care Day Care Center Inc ($1.1m) and Mount Olives Church of God Inc ($1.1m).

On its Form 990 for the period ending August 2022, revenue came from contributions and grants 95% and program service revenue 5.4% of the total. Other salaries and wages came to $82k. At year end it held assets of $1.2m against liabilities of $399k, net assets of $813k. It reported 2 employees.