School of American Music

Analysis

School of American Music is a registered charity in United States, based in Three Oaks, MI. It received its IRS tax-exemption ruling in August 2012, 14 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 December 2023, School of American Music reported income of $272k and spending of $84k, leaving 69% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $196k to $272k (+39%), an average of +39% a year. The sharpest change came in the year to December 2023, when income rose by 39%. Over the whole period it spent 36% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, School of American Music sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 60th percentile within MI. Charities of a similar size with the same main cause include Spokane Childrens Theatre Inc ($272k), Friends of South Florida Music Inc ($272k) and Missouri Appleseed ($272k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $12k (14% of expenses). At year end it held assets of $620k against liabilities of $0, net assets of $620k.