Institute for the Musical Arts

Analysis

Institute for the Musical Arts is a registered charity in United States, based in Goshen, MA. It received its IRS tax-exemption ruling in April 1988, 38 years ago. 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 2023, Institute for the Musical Arts reported income of $193k and spending of $161k, spending 83% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $198k to $193k (-2.3%), an average of -0.6% a year. The sharpest change came in the year to June 2021, when income rose by 60%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Institute for the Musical Arts sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 57th percentile within MA. Charities of a similar size with the same main cause include Odessa Crime Stoppers Incorporated ($193k), Timothy International Discipleship Training ($193k) and California Federation of Womens Clubs ($193k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Other salaries and wages came to $40k. At year end it held assets of $662k against liabilities of $83k, net assets of $579k. It reported 1 employees.