Northeast Iowa School of Music

Analysis

Northeast Iowa School of Music is a registered charity in United States, based in Dubuque, IA. 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Northeast Iowa School of Music reported income of $354k and spending of $312k, spending 88% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $375k to $354k (-5.6%), an average of -1.4% a year. The sharpest change came in the year to June 2023, when income rose by 44%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Northeast Iowa School of Music sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 67th percentile within IA. Charities of a similar size with the same main cause include Westmoreland Arts & Heritage Festival Inc ($354k), Superior Public Museums ($354k) and Craftnow Philadelphia ($354k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 31% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $58k (19% of expenses). Other salaries and wages came to $143k. At year end it held assets of $248k against liabilities of $6,197, net assets of $241k. It reported 30 employees.