Louisville Academy of Music Inc

Analysis

Louisville Academy of Music Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in January 1959, 67 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 May 2023, Louisville Academy of Music Inc reported income of $680k and spending of $632k, spending 93% of its income. Across the 5 years on record, from December 2019 to May 2023, income grew from $358k to $680k (+90%), an average of +17% a year. The sharpest change came in the year to May 2023, when income rose by 205%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Louisville Academy of Music Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within KY. Charities of a similar size with the same main cause include Minnesota Falun Dafa Association ($680k), Cumberland Valley School of Music ($680k) and Cascades Theatrical Company ($680k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 26% and program service revenue 74% of the total. Other salaries and wages came to $419k. At year end it held assets of $432k against liabilities of $55k, net assets of $377k. It reported 17 employees.