Friends of the Academy of Music Inc

Analysis

Friends of the Academy of Music Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in April 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Friends of the Academy of Music Inc reported income of $224k and spending of $254k, spending 113% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $223k to $224k (+0.1%), an average of +0.0% a year. The sharpest change came in the year to June 2022, when income rose by 63%. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Friends of the Academy of Music Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 58th percentile within CA. Charities of a similar size with the same main cause include Pinedorado Lions Foundation Inc ($224k), Utah Schools for the Deaf and the Blind Education Foundation ($224k) and Flathead Library Foundation ($224k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 28% of the total. At year end it held assets of $178k against liabilities of $0, net assets of $178k.