The Music School of Delaware Inc

Analysis

The Music School of Delaware Inc is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in September 1941, 85 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Music School of Delaware Inc reported income of $2.6m and spending of $3.6m, spending 137% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.8m to $2.6m (-4.4%), an average of -1.1% a year. The sharpest change came in the year to June 2022, when income rose by 319%. Over the whole period it spent 64% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Music School of Delaware Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within DE. Charities of a similar size with the same main cause include Rockville Institute a Research Institute for the Advancement of S ($2.6m), Society for American Archaeology ($2.6m) and Kalamazoo Symphony Orchestra ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 30% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $149k (4.1% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $14.4m against liabilities of $1.4m, net assets of $13.0m. It reported 114 employees.