DMV Music Academy

Analysis

DMV Music Academy is a registered charity in United States, based in Hyattsville, MD. It received its IRS tax-exemption ruling in November 2019, 7 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending April 2024, DMV Music Academy reported income of $111k and spending of $90k, spending 81% of its income. Across the 2 years on record, from April 2023 to April 2024, income grew from $68k to $111k (+63%), an average of +63% a year. The sharpest change came in the year to April 2024, when income rose by 63%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, DMV Music Academy sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 41st percentile within MD. Charities of a similar size with the same main cause include Colorado Film Institute ($111k), Guild of Natural Science Illustrators Inc P O Box 652 ($111k) and Gujarati Cultural Association of the Piedmont ($111k).

On its Form 990-EZ for the period ending April 2024, revenue came from contributions and grants 86% and program service revenue 14% of the total. At year end it held assets of $26k against liabilities of $0, net assets of $26k.