Renaissance Music Academy of Virginia

Analysis

Renaissance Music Academy of Virginia is a registered charity in United States, based in Blacksburg, VA. It received its IRS tax-exemption ruling in July 1993, 33 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, Renaissance Music Academy of Virginia reported income of $475k and spending of $426k, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $440k to $475k (+8.1%), an average of +2.0% a year. The sharpest change came in the year to December 2021, when income rose by 17%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Renaissance Music Academy of Virginia sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within VA. Charities of a similar size with the same main cause include Kantorei ($475k), Florida Keys History and Discovery Foundation ($476k) and Sol-La Music Academy ($475k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 15% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $96k (22% of expenses). At year end it held assets of $782k against liabilities of $16k, net assets of $766k. It reported 10 employees.