St Marys Music Academy

Analysis

St Marys Music Academy is a registered charity in United States, based in High Point, NC. It received its IRS tax-exemption ruling in February 2022, 4 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 December 2023, St Marys Music Academy reported income of $156k and spending of $146k, spending 94% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $127k to $156k (+23%), an average of +23% a year. The sharpest change came in the year to December 2023, when income rose by 23%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, St Marys Music Academy sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 46th percentile within NC. Charities of a similar size with the same main cause include Pittsburgh School for the Choral Arts ($156k), Ego Trip BRC Inc ($156k) and One Reel ($156k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.7% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $33k (23% of expenses). Other salaries and wages came to $89k. At year end it held assets of $175k against liabilities of $144k, net assets of $31k. It reported 2 employees.