SPK Academy of Music Inc

Analysis

SPK Academy of Music Inc is a registered charity in United States, based in Chandler, AZ. It received its IRS tax-exemption ruling in August 2021, 5 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, SPK Academy of Music Inc reported income of $241k and spending of $217k, spending 90% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $188k to $241k (+29%), an average of +28% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, SPK Academy of Music Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 55th percentile within AZ. Charities of a similar size with the same main cause include Black Arts & Culture Alliance of Chicago ($241k), William Lewis School of Opera ($241k) and Arkansas Air and Military Museum ($241k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $26k (12% of expenses). At year end it held assets of $44k against liabilities of $0, net assets of $44k.