Mount Calvary Academy of Music

Analysis

Mount Calvary Academy of Music is a registered charity in United States, based in Excelsior, MN. It received its IRS tax-exemption ruling in May 2008, 18 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Mount Calvary Academy of Music reported income of $188k and spending of $189k, spending 100% of its income. Across the 5 years on record, from May 2019 to May 2023, income fell from $208k to $188k (-9.7%), an average of -2.5% a year. The sharpest change came in the year to May 2022, when income rose by 38%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mount Calvary Academy of Music sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 51st percentile within MN. Charities of a similar size with the same main cause include Chiarina ($188k), Three Bone Theatre Inc ($188k) and Technology Broadcasting Corporation ($188k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $49k (26% of expenses). At year end it held assets of $62k against liabilities of $14k, net assets of $47k. It reported 1 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.