Powers Music School Inc

Organization Overview

Powers Music School Inc is located in Belmont, MA. The organization was established in 1976. According to its NTEE Classification (A6E) the organization is classified as: Performing Arts Schools, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2021, Powers Music School Inc employed 86 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Powers Music School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 08/2021, Powers Music School Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $1.6m during the year ending 08/2021. While expenses have increased by 1.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE MEMBERS OF THE COMMUNITY AND STUDENTS OF ALL AGES WITH ACCESS TO THE HIGHEST CALIBER OF MUSIC EDUCATION AND INSTRUCTION PROGRAM THAT FOSTER A LIFELONG APPRECIATION OF MUSIC.

Describe the Organization's Program Activity:

Part 3 - Line 4a

MUSIC INSTRUCTION FOR ALL AGES INCLUDING THREE SUMMER DAY PROGRAMS. DURING THE YEAR, APPROXIMATELY 900 STUDENTS RECEIVED INSTRUCTION.


COMMUNITY ACTIVITIES AND EVENTS, INCLUDING CONCERTS, RECITALS, AND WORKSHOPS AND OPEN READINGS.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$81,931
Noncash contributions included in lines 1a–1f $940
Total Revenue from Contributions, Gifts, Grants & Similar$81,931
Total Program Service Revenue$1,244,485
Investment income $35,573
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $39,231
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,651,220

Grants Recieved

Over the last fiscal year, we have identified 6 grants that Powers Music School Inc has recieved totaling $19,626.

Awarding OrganizationAmount
Belmont Savings Bank Foundation

Belmont, MA

PURPOSE: MUSIC STORYTELLING PROGRAM

$12,000
East Boston Saving Bank Charitable Foundation Inc

Rockland, MA

PURPOSE: EXEMPT PURPOSES

$3,000
Cambridge Savings Charitable Foundation Inc

Cambridge, MA

PURPOSE: EXEMPT PURPOSE

$2,500
Alan K And Isabelle Derkazarian Foundation

Belmont, MA

PURPOSE: ANNUAL FUND

$1,000
$1,000
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$126
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,490,829
Earnings$279,321
Ending Balance$1,770,150

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