Studio School of Music

Analysis

Studio School of Music is a registered charity in United States, based in Richardson, TX. It received its IRS tax-exemption ruling in June 2013, 13 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 2022, Studio School of Music reported income of $794k and spending of $415k, leaving 48% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $643k to $794k (+24%), an average of +7.3% a year. The sharpest change came in the year to December 2022, when income rose by 37%. Over the whole period it spent 68% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Studio School of Music sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 81st percentile within TX. Charities of a similar size with the same main cause include Roseville Theater Arts Academy ($794k), Metropolitan Club Preservation Foundation ($794k) and Dakota Media Access Inc ($794k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 97% and program service revenue 3.0% of the total. Compensation of current officers, directors and key employees was $78k (19% of expenses). Other salaries and wages came to $300k. At year end it held assets of $788k against liabilities of $0, net assets of $788k. It reported 7 employees.