Headwaters School of Music and the Arts

Analysis

Headwaters School of Music and the Arts is a registered charity in United States, based in Bemidji, MN. It received its IRS tax-exemption ruling in May 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 December 2023, Headwaters School of Music and the Arts reported income of $393k and spending of $378k, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $371k to $393k (+5.7%), an average of +1.4% a year. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Headwaters School of Music and the Arts sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within MN. Charities of a similar size with the same main cause include Belvoir Community Committee ($393k), American Water Works Association ($393k) and Eby-Klein Youth and Family Center Inc ($393k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 31% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $48k (13% of expenses). Other salaries and wages came to $192k. At year end it held assets of $266k against liabilities of $118k, net assets of $148k. It reported 51 employees.