Turtle Bay Music School Inc
- Assets
- $17.7m
- Revenue
- $369.1k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/1935
- Data as of
- 08/2021
- EIN
- 13-1775772
Organization Overview
Turtle Bay Music School Inc is located in New York, NY. The organization was established in 1935. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Turtle Bay 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, Turtle Bay Music School Inc generated $369.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (19.8%) each year. All expenses for the organization totaled $890.0k 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
TO SPREAD THE TRANFORMATIVE POWER OF MUSIC BY PROVIDING THE HIGHEST QUALITY MUSIC EDUCATION AND EXPERIENCES TO ALL IN THE COMMUNITY WHO SEEK THEM
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTIONAL AND OUTREACH PROGRAMS: INSTRUCTIONAL - PROVIDING MUSIC LESSONS AND CLASSES FOR GROUPS OR INDIVIDUALS, CONSISTING OF WEEKLY OR HOURLY INSTRUCTION BY FACULTY MEMBERS SKILLED IN THE PARTICULAR AREA LOF STUDY, OUTREACH - CREATING PARTNERSHIPS WITH PUBLIC SCHOOLS, COMMUNITY ORGANIZATIONS, HOSPITALS, SENIOR CENTERS, AND OTHERS AS APPROPRIATE WITH THE GOAL OF MAKING MUSIC ACCESSIBLE TO NEW YORKERS. THE WIDE VARIETY OF PROGRAMMING OFFERED INCLUDES IN-SCHOOL GROUP MUSIC LESSIONS, AFTER-SCHOOL PROGRAMS, FREE COMMUNITY CONCERTS, MASTER CLASSES, AND FAMILY PROGRAMMING. THE SCHOOL CEASED ALL OPERATIONS AND PROGRAMMING ON JANUARY 29, 2020
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edwin Sirlin Chairtreasurer | OfficerTrustee | 2 | $0 |
Nancy Grebey Trustee | OfficerTrustee | 1 | $0 |
Jeffrey Schlosser President | OfficerTrustee | 4 | $0 |
Blair Talcott Trustee | Trustee | 1 | $0 |
David Bondy Trustee | Trustee | 1 | $0 |
Mary Neumann Trustee | Trustee | 1 | $0 |
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 | $377,149 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $377,149 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$8,070 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $369,079 |
| 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 | $19,888 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $68,133 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $414 |
| Information technology | $404 |
| Royalties | $0 |
| Occupancy | $257,962 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,277 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $417,329 |
| Insurance | $46,305 |
| All other expenses | $46,440 |
| Total functional expenses | $889,957 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $398,193 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $15,847,772 |
| Investments—publicly traded securities | $1,092,899 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $381,765 |
| Total assets | $17,720,629 |
| Accounts payable and accrued expenses | $591,363 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $8,656,350 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,247,713 |
| Net assets without donor restrictions | $7,864,166 |
| Net assets with donor restrictions | $608,750 |
| 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 | $17,720,629 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Turtle Bay Music School Inc has recieved totaling $87,848.
| Awarding Organization | Amount |
|---|---|
Fishlinger Family Foundation New York, NY PURPOSE: GENERAL STUDENT SPONSORSHIP FUND. | $52,500 |
Network For Good Inc Washington, DC PURPOSE: Unrestricted | $35,090 |
Chubb Charitable Foundation Philadelphia, PA PURPOSE: MATCHING GIFTS | $258 |
Endowment Analysis
| Beg. Balance | $2,051,261 |
| Other Expense | $750,000 |
| Ending Balance | $1,301,261 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Musical & Dramatic Academy New York, NY | $154,874,684 | $91,373,218 |
Curtis Institute Of Music Philadelphia, PA | $375,391,914 | $65,896,582 |
Universal Ballet Foundation Tarrytown, NY | $0 | $12,642,868 |
School Of American Ballet Inc New York, NY | $111,037,435 | $21,205,372 |
Settlement Music School Of Philadelphia Philadelphia, PA | $34,802,698 | $14,057,233 |
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 |
Academy Of Vocal Arts Philadelphia, PA | $44,375,102 | $5,042,502 |