Jazz Academy of Music Inc

Analysis

Jazz Academy of Music Inc is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in November 2003, 23 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, Jazz Academy of Music Inc reported income of $238k and spending of $236k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $211k to $238k (+13%), an average of +3.0% a year. The sharpest change came in the year to December 2022, when income rose by 85%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Jazz Academy of Music Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 57th percentile within MD. Charities of a similar size with the same main cause include Ennis Public Theatre ($238k), Friends for Education ($238k) and Texas Forestry Museum ($238k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.2% and program service revenue 95% of the total. At year end it held assets of $61k against liabilities of $93k, net assets of -$32k.