Broadway School of Music & the Arts

Analysis

Broadway School of Music & the Arts is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in October 1983, 43 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 July 2023, Broadway School of Music & the Arts reported income of $501k and spending of $374k, leaving 25% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $232k to $501k (+116%), an average of +21% a year. The sharpest change came in the year to July 2021, when income rose by 47%. 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, Broadway School of Music & the Arts sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within OH. Charities of a similar size with the same main cause include Key West Theater and Community Stage ($501k), Bi-Okoto Drum & Dance Theatre ($501k) and Metropolitan Ensemble Theatre ($501k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. Other salaries and wages came to $110k. At year end it held assets of $423k against liabilities of $5,303, net assets of $417k. It reported 6 employees.