Colorado Institute of Music

Analysis

Colorado Institute of Music is a registered charity in United States, based in Wheat Ridge, CO. It received its IRS tax-exemption ruling in August 1999, 27 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 September 2023, Colorado Institute of Music reported income of $393k and spending of $361k, spending 92% of its income. Across the 4 years on record, from September 2019 to September 2023, income grew from $261k to $393k (+51%), an average of +15% a year. The sharpest change came in the year to September 2022, when income rose by 23%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Colorado Institute of Music sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 64th percentile within CO. Charities of a similar size with the same main cause include Palm Springs Opera Guild of the Desert ($393k), North Raleigh Arts & Creative Theatre ($393k) and World Stage Theatre ($393k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 6.5% and program service revenue 94% of the total. At year end it held assets of $21k against liabilities of $55k, net assets of -$33k.