New School Of Music Inc
- Assets
- $345.3k
- Revenue
- $472.3k
- Investments
- $0.0
- Employees
- 36
- Location
- Cambridge, MA
- Founding
- 11/1976
- Data as of
- 08/2021
- EIN
- 04-2598978
Organization Overview
New School Of Music Inc is located in Cambridge, 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, New School Of Music Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New School Of Music 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, New School Of Music Inc generated $472.3k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $460.2k during the year ending 08/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HIGH QUALITY MUSIC INSTRUCTION AND ACCESS IN A VARIETY OF MUSICAL FORMS, INCLUDING CLASSICAL, JAZZ, POP AND WORLD MUSIC FOR STUDENTS OF ALL AGES, LEVELS OF TRAINING AND FINANCIAL MEANS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY MUSIC SCHOOL WHICH OFFERS INSTRUCTION IN VOICE AND INSTRUMENTS TO APPROXIMATELY 325 STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Drozdiak Caroline Executive Director | Officer | 40 | $39,600 |
Aglio Linda President | OfficerTrustee | 4 | $0 |
Salazar Emilia Tresurer | OfficerTrustee | 4 | $0 |
Miller Dorothy Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $61,700 |
| Total Program Service Revenue | $408,900 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,700 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $472,300 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $313,300 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,800 |
| Payroll taxes | $24,900 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,200 |
| Office expenses | $25,000 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,100 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $100 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,000 |
| Insurance | $3,100 |
| All other expenses | $0 |
| Total functional expenses | $460,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $274,200 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $25,400 |
| Net Land, buildings, and equipment | $32,200 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $345,300 |
| Accounts payable and accrued expenses | $94,700 |
| Grants payable | $0 |
| Deferred revenue | $33,300 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $600 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $128,600 |
| Net assets without donor restrictions | $216,700 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $345,300 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New School Of Music Inc has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Sims-Maes Foundation Inc Boston, MA PURPOSE: GENERAL PURPOSES | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Musical & Dramatic Academy New York, NY | $154,874,684 | $91,373,218 |
Universal Ballet Foundation Tarrytown, NY | $0 | $12,642,868 |
School Of American Ballet Inc New York, NY | $111,037,435 | $21,205,372 |
Society Of The Third Street Music School Settlement Inc New York, NY | $23,512,540 | $9,331,737 |
Professional Childrens School Inc New York, NY | $20,795,903 | $7,913,959 |
Elaine Kaufman Cultural Center-Lucy Moses School For Music And Dance New York, NY | $27,086,297 | $8,434,600 |
Usdan Center For The Creative And Performing Arts Wheatley Heights, NY | $9,094,063 | $7,842,834 |
The Brooklyn Queens Conservatory Of Music Brooklyn, NY | $5,364,852 | $5,242,264 |
South Shore Conservatory Of Music Inc Hingham, MA | $8,426,542 | $4,813,797 |
Neighborhood Music School Inc New Haven, CT | $8,041,622 | $5,408,099 |
Hoff Barthelson Music School Scarsdale, NY | $5,808,540 | $3,629,362 |
David Hochstein Memorial Music School Inc Rochester, NY | $9,075,130 | $4,251,000 |