Center of Musical Studies Inc

Analysis

Center of Musical Studies Inc is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in July 1997, 29 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 December 2023, Center of Musical Studies Inc reported income of $616k and spending of $609k, spending 99% of its income. Across the 4 years on record, from December 2019 to December 2023, income grew from $535k to $616k (+15%), an average of +4.8% a year. The sharpest change came in the year to December 2022, when income rose by 215%. Over the whole period it spent 116% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Center of Musical Studies Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within MD. Charities of a similar size with the same main cause include Winkler-Loving County Livestock Association ($616k), Kerrytown Concert House Inc ($616k) and National Labor College ($615k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $102k (17% of expenses). At year end it held assets of $202k against liabilities of $488, net assets of $202k. It reported 2 employees.