Laurel School of Music

Analysis

Laurel School of Music is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in July 2001, 25 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Laurel School of Music reported income of $672k and spending of $846k, spending 126% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $583k to $672k (+15%), an average of +3.6% a year. The sharpest change came in the year to June 2021, when income rose by 21%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Laurel School of Music sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within MN. Charities of a similar size with the same main cause include Southeastern Railway Museum ($672k), Coney Island USA ($672k) and Dance It Forward ($672k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 45% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $72k (8.5% of expenses). Other salaries and wages came to $426k. It paid $49k in professional fundraising fees. At year end it held assets of $144k against liabilities of $111k, net assets of $34k. It reported 65 employees.