Mankato Suzuki School of Music Inc

Analysis

Mankato Suzuki School of Music Inc is a registered charity in United States, based in Mankato, MN. It received its IRS tax-exemption ruling in May 1984, 42 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 2024, Mankato Suzuki School of Music Inc reported income of $324k and spending of $338k, spending 104% of its income. Across the 3 years on record, from August 2022 to August 2024, income grew from $176k to $324k (+84%), an average of +36% a year. The sharpest change came in the year to August 2023, when income rose by 43%. Over the whole period it spent 111% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mankato Suzuki School of Music Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 62nd percentile within MN. Charities of a similar size with the same main cause include NVLD Project Inc ($324k), Divine Mercy Radio Inc ($324k) and Iconos Kids Inc ($324k).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 23% and program service revenue 76% of the total. Other salaries and wages came to $89k. At year end it held assets of $20k against liabilities of $99k, net assets of -$79k. It reported 12 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.