Asheville Music School Sound Education

Analysis

Asheville Music School Sound Education is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in September 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 (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 2024, Asheville Music School Sound Education reported income of $275k and spending of $267k, spending 97% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $212k to $275k (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2022, when income rose by 120%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Asheville Music School Sound Education sits at the 67th 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 58th percentile within NC. Charities of a similar size with the same main cause include Western New York Heritage Inc ($275k), Compound LB ($275k) and Stonewall Sports Chicago ($275k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 25% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $57k (21% of expenses). Other salaries and wages came to $17k. At year end it held assets of $377k against liabilities of $87k, net assets of $291k. It reported 3 employees.