Heifetz International Music Institute Inc

Analysis

Heifetz International Music Institute Inc is a registered charity in United States, based in Staunton, VA. It received its IRS tax-exemption ruling in July 1996, 30 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 September 2021, Heifetz International Music Institute Inc reported income of $1.8m and spending of $1.3m, leaving 26% of income unspent that year. Across the 3 years on record, from September 2019 to September 2021, income grew from $1.6m to $1.8m (+15%), an average of +7.0% a year. The sharpest change came in the year to September 2021, when income rose by 102%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Heifetz International Music Institute Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within VA. Charities of a similar size with the same main cause include Emerald Coast Theatre Company ($1.8m), Alameda Theater Conservancy ($1.8m) and American Friends of Sufi Arts Culture and Knowledge ($1.8m).

On its Form 990 for the period ending September 2021, revenue came from contributions and grants 66% and program service revenue 34% of the total. Other salaries and wages came to $313k. At year end it held assets of $537k against liabilities of $8,041, net assets of $529k. It reported 6 employees.