Preucil School of Music

Analysis

Preucil School of Music is a registered charity in United States, based in Iowa City, IA. It received its IRS tax-exemption ruling in November 1977, 49 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 2024, Preucil School of Music reported income of $1.4m and spending of $1.5m, spending 107% of what it took in. Across the 5 years on record, from July 2020 to July 2024, income fell from $1.6m to $1.4m (-11%), an average of -2.8% a year. The sharpest change came in the year to July 2023, when income dropped by 37%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Preucil School of Music sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within IA. Charities of a similar size with the same main cause include Cyt Chicago Inc ($1.4m), White Columns Inc ($1.4m) and Marine Discovery Center Inc ($1.4m).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 9.9% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $141k (9.3% of expenses). Other salaries and wages came to $929k. At year end it held assets of $5.7m against liabilities of $40k, net assets of $5.7m. It reported 81 employees.