Classical Kids Music Education NFP

Analysis

Classical Kids Music Education NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in January 2009, 17 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 2024, Classical Kids Music Education NFP reported income of $321k and spending of $330k, spending 103% of its income. Across the 4 years on record, from June 2020 to June 2024, income grew from $204k to $321k (+58%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 54%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Classical Kids Music Education NFP sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 63rd percentile within IL. Charities of a similar size with the same main cause include Indiana War Memorials Foundation Inc ($321k), Winter Garden Art Association ($321k) and Vang Council of LA Crosse ($321k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 27% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $111k (33% of expenses). Other salaries and wages came to $55k. At year end it held assets of $180k against liabilities of $13k, net assets of $167k. It reported 5 employees.