Armstrong Community Music School

Analysis

Armstrong Community Music School is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in November 2012, 14 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 January 2024, Armstrong Community Music School reported income of $1.5m and spending of $909k, leaving 41% of income unspent that year. Across the 5 years on record, from January 2020 to January 2024, income grew from $758k to $1.5m (+104%), an average of +20% a year. The sharpest change came in the year to January 2022, when income rose by 64%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Armstrong Community Music School sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 87th percentile within TX. Charities of a similar size with the same main cause include Northern Nevada Building and Construction Trade Council Develop ($1.5m), Thorncroft Equestrian Center ($1.5m) and Center Against Sexual & Domestic Abuse Inc ($1.5m).

On its Form 990 for the period ending January 2024, revenue came from contributions and grants 74% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $67k (7.3% of expenses). Other salaries and wages came to $508k. At year end it held assets of $2.1m against liabilities of $421k, net assets of $1.7m. It reported 52 employees.