Harmony School of Music Incorporated

Analysis

Harmony School of Music Incorporated is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in August 2017, 9 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Harmony School of Music Incorporated reported income of $81k and spending of $74k, spending 92% of its income. Across the 2 years on record, from May 2022 to May 2023, income fell from $85k to $81k (-4.4%), an average of -4.4% a year. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Harmony School of Music Incorporated sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 29th percentile within IA. Charities of a similar size with the same main cause include Gallatin Noon Rotary Foundation ($81k), Rotary Club of Montpelier Charitable Foundation Inc ($81k) and Dewitt High School Panthers Football Touchdown Club ($81k).

On its Form 990-EZ for the period ending May 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $18k against liabilities of $12k, net assets of $6,717.