Central Music Academy Inc

Analysis

Central Music Academy Inc is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in October 2004, 22 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Central Music Academy Inc reported income of $508k and spending of $343k, leaving 32% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $274k to $508k (+86%), an average of +13% a year. The sharpest change came in the year to June 2024, when income rose by 63%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Central Music Academy Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within KY. Charities of a similar size with the same main cause include Stoutsburg Sourland African American Museum NP ($508k), Science & Discovery Center of Northwest Florida Inc ($508k) and Museum of Texas Tech University Association ($508k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $105k (31% of expenses). Other salaries and wages came to $17k. At year end it held assets of $913k against liabilities of $478k, net assets of $435k. It reported 3 employees.