Los Angeles Music and Art School

Analysis

Los Angeles Music and Art School is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in June 1950, 76 years ago. 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 July 2023, Los Angeles Music and Art School reported income of $1.4m and spending of $968k, leaving 29% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $833k to $1.4m (+63%), an average of +13% a year. The sharpest change came in the year to July 2022, when income rose by 63%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Los Angeles Music and Art School sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within CA. Charities of a similar size with the same main cause include San Francisco Hillel ($1.4m), Teen Challenge International of Wisconsin Inc ($1.4m) and Association for Women in Science Inc ($1.4m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 60% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $347k (36% of expenses). Other salaries and wages came to $305k. At year end it held assets of $3.5m against liabilities of $78k, net assets of $3.5m. It reported 62 employees.