Allegro Charter School of Music

Analysis

Allegro Charter School of Music is a registered charity in United States, based in N Charleston, SC. It received its IRS tax-exemption ruling in July 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2024, Allegro Charter School of Music reported income of $4.5m and spending of $5.1m, spending 114% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.6m to $4.5m (+74%), an average of +12% a year. The sharpest change came in the year to June 2023, when income rose by 53%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Allegro Charter School of Music sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within SC. Charities of a similar size with the same main cause include The Carmel School ($4.5m), Anna Julia Cooper School ($4.5m) and Academy for Advanced & Creative Learning ($4.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $268k (5.3% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $5.2m against liabilities of $3.2m, net assets of $2.0m. It reported 62 employees.