Sacramento Preparatory Music Academy

Analysis

Sacramento Preparatory Music Academy is a registered charity in United States, based in Sacramento, CA. It received its IRS tax-exemption ruling in December 2015, 11 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 June 2023, Sacramento Preparatory Music Academy reported income of $235k and spending of $264k, spending 112% of what it took in. Across the 3 years on record, from June 2020 to June 2023, income fell from $315k to $235k (-25%), an average of -14% a year. The sharpest change came in the year to June 2023, when income dropped by 22%. Over the whole period it spent 147% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sacramento Preparatory Music Academy sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 59th percentile within CA. Charities of a similar size with the same main cause include Cabaret 313 ($235k), Case Barlow Farm ($235k) and York Art Association Inc ($235k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 21% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $52k (20% of expenses). Other salaries and wages came to $20k. At year end it held assets of $71k against liabilities of $518k, net assets of -$447k. It reported 4 employees.