Music Academy of the West

Analysis

Music Academy of the West is a registered charity in United States, based in Santa Barbara, CA. It received its IRS tax-exemption ruling in September 1948, 78 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 December 2023, Music Academy of the West reported income of $9.3m and spending of $13.0m, spending 140% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $10.6m to $9.3m (-12%), an average of -3.3% a year. The sharpest change came in the year to December 2021, when income rose by 62%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Music Academy of the West sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Colebrookdale Railroad Preservation Trust ($9.3m), Bay Org ($9.3m) and Esplanade Association Inc ($9.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $2.1m (16% of expenses). Other salaries and wages came to $1.9m. It paid $17k in professional fundraising fees. At year end it held assets of $112.0m against liabilities of $10.5m, net assets of $101.5m. It reported 84 employees.