Lagond Music School Inc

Analysis

Lagond Music School Inc is a registered charity in United States, based in Elmsford, NY. It received its IRS tax-exemption ruling in March 2005, 21 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 August 2023, Lagond Music School Inc reported income of $788k and spending of $892k, spending 113% of what it took in. Across the 6 years on record, from February 2019 to August 2023, income fell from $1.1m to $788k (-29%), an average of -6.5% a year. The sharpest change came in the year to August 2023, when income rose by 69%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lagond Music School Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include Arbor Learning Community ($788k), The Nest Academy Inc ($788k) and Health & Education Alliance of Louisiana ($788k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 28% and program service revenue 70% of the total. Other salaries and wages came to $287k. At year end it held assets of $264k against liabilities of $89k, net assets of $174k. It reported 8 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.