Society Of The Third Street Music School Settlement Inc, operating under the name Third Street Music School, is located in New York, NY. The organization was established in 1942. 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 06/2022, Third Street Music School employed 221 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Third Street Music School 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 06/2022, Third Street Music School generated $11.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $10.3m during the year ending 06/2022. While expenses have increased by 5.5% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY MUSIC & DANCE INSTRUCTION REGARDLESS OF ARTISTIC ABILITY OR ECONOMIC CIRCUMSTANCES
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSIC AND DANCE INSTRUCTION(SEE SCHEDULE O)AS THE NATION'S LONGEST-RUNNING COMMUNITY MUSIC SCHOOL, THIRD STREET PROVIDES HIGH QUALITY MUSIC AND DANCE INSTRUCTION TO STUDENTS OF ALL AGES, ABILITIES, AND SOCIOECONOMIC BACKGROUNDS. THE MAJORITY OF THIRD STREET'S PROGRAMS SERVE CHILDREN IN GRADES PRE-K THROUGH 12TH-GRADE WITH WEEKLY AFTER-SCHOOL AND WEEKEND INSTRUCTION IN 22+ INSTRUMENTS AND VOICE; GROUP AND ENSEMBLE CLASSES; SEVERAL DANCE DISCIPLINES; MUSIC THEORY, COMPOSITION, AND PRODUCTION; AND PERFORMANCE TRAINING. THIRD STREET ALSO OFFERS EARLY CHILDHOOD PROGRAMS INCLUDING A LICENSED PRESCHOOL AND CLASSES IN MUSIC AND MOVEMENT; AS WELL AS ADULT PROGRAMS SUCH AS FLEXIBLE MUSIC LESSONS, FREE DAYTIME ACCESS TO PRACTICE STUDIOS, DANCE CLASSES, AND ENSEMBLE/PERFORMANCE ACTIVITIES, INCLUDING NEW HORIZONS BANDS FOR OLDER ADULTS. IN 2021-22, THIRD STREET SERVED 6,000+ STUDENTS, INCLUDING 1,706 IN OUR MUSIC & DANCE SCHOOL'S WEEKDAY, AFTER SCHOOL, AND WEEKEND PROGRAMS, AND 4,284 STUDENTS IN OUR PUBLIC-SCHOOL AND COMMUNITY PARTNERSHIPS PROGRAM. THIRD STREET'S OVERALL STUDENT POPULATION REFLECTS THE ETHNIC AND SOCIOECONOMIC DIVERSITY OF NYC: 23% HISPANIC, 22% CAUCASIAN, 22% ASIAN, 16% AFRICAN, AND 7% MIXED RACE. TO ENSURE EQUITABLE ACCESS, THIRD STREET PROVIDED NEED-BASED FINANCIAL AID AND HIGHLY-SUBSIDIZED PROGRAMMING TO OVER 80% OF ITS STUDENTS.IN 2021-22, THIRD STREET ALSO LEGALLY COMPLETED ITS ACQUISITION ISO, ONE OF THE CITY'S MOST PROMINENT YOUTH ORCHESTRA PROGRAMS AND A LONGTIME PARTNER OF THIRD STREET. OUR COMBINED PROGRAM, NOW KNOWN AS ISO AT THIRD STREET, EXPANDS ACCESS ACCESS TO ADVANCED MUSIC INSTRUCTION FOR 200+ ORCHESTRA STUDENTS FROM ACROSS THE FIVE BOROUGHS. STUDENTS ENJOY PROFESSIONAL-LEVEL PERFORMANCE OPPORTUNITIES AT THIRD STREET AND CELEBRATED VENUES, SUCH AS ALICE TULLY HALL AND CARNEGIE HALL.
THIRD STREET PARTNERS, SCHOOL & COMMUNITY PARTNERSHIPS (SEE SCHEDULE O)ESTABLISHED OVER 60 YEARS AGO, THIRD STREET PARTNERS IS A SCHOOL AND COMMUNITY PARTNERSHIP PROGRAM THAT REACHES THOUSANDS OF STUDENTS IN PRE-K THROUGH 12TH GRADE ACROSS THE FIVE BOROUGHS. IN 2021-2022, THIRD STREET PARTNERS SERVED 4,284 STUDENTS IN 30 PUBLIC SCHOOLS AND HUNDREDS MORE THROUGH PROGRAMS IN PUBLIC HOUSING AND UNDERSERVED COMMUNITIES. THROUGH THESE PARTNERSHIPS, THIRD STREET PROVIDES TEACHING ARTIST RESIDENCIES IN NYC PUBLIC SCHOOLS TO PROVIDE STUDENTS WITH SKILL-BASED, SEQUENTIAL INSTRUCTION THAT RANGES FROM MUSIC AND MOVEMENT, TO AFRICAN PERCUSSION, TO GROUP VIOLIN, AND ROCK BAND. COMMITTED TO SERVING UNDER-RESOURCED POPULATIONS, ABOUT 75% OF STUDENTS ENGAGED IN THIRD STREET PARTNERS ARE LIVING AT OR BELOW THE POVERTY LINE. FOR MANY OF THESE STUDENTS, THIRD STREET'S PROGRAMS ARE THEIR FIRST EXPOSURE TO ARTS EDUCATION.AT THIRD STREET, WE BELIEVE THAT MUSIC AND DANCE ARE ESSENTIAL CORE SUBJECTS TO A CHILD'S EDUCATION. WE OFFER SCHOOLS A CUSTOMIZABLE ARTS EDUCATION PROGRAM THAT IS SUSTAINABLE AND TAILORED TO EACH UNIQUE GROUP OF STUDENTS SERVED. BY WORKING CLOSELY WITH A SCHOOL'S ADMINISTRATION, THIRD STREET DESIGNS A PROGRAM THAT FILLS A GAP IN THE ACADEMIC CURRICULUM. ALL PROGRAMS PROVIDE STUDENTS WITH A FOUNDATIONAL KNOWLEDGE OF MUSICIANSHIP, INCLUDING INSTRUMENTAL SKILLS, RHYTHM, PITCH, MUSIC THEORY AND VOCABULARY, AND A BASIC SET OF REPERTOIRE. PROGRAMS ARE TYPICALLY YEAR-ROUND FOR 28-32 WEEKS, BEGINNING IN SEPTEMBER THROUGH JUNE AND CULMINATING WITH PERFORMANCE OPPORTUNITIES. FURTHER, STUDENTS ARE INVITED TO PARTICIPATE IN THE MUSIC & DANCE SCHOOL'S BRIDGE-TO-THE-ARTS ACCESS PROGRAM PARTNERS@3RD, WHICH OFFERS STUDENTS THE OPPORTUNITY TO PARTICIPATE IN A YEAR OF FREE SMALL GROUP INSTRUCTION IN AN INSTRUMENT OF THEIR CHOICE AT THIRD STREET'S HEADQUARTERS.
COMMUNITY CONCERTS(SEE SCHEDULE O)IN 2021-22, THIRD STREET PRESENTED OVER 250 FREE PUBLIC PERFORMANCES, ENRICHING THE COMMUNITY THROUGH THE SHARED LANGUAGE OF THE ARTS. HIGHLIGHTS INCLUDED OUR ANNUAL MUSIC IN ABE LEBEWOHL PARK OUTDOOR CONCERT SERIES, OUR LIVESOUNDS CONCERT SERIES WITH PERFORMANCES BY THIRD STREET FACULTY, AND DOZENS OF STUDENT PERFORMANCES INCLUDING OUR ANNUAL ALL ORCHESTRAS CONCERT, STOWE C. PHELPS HONORS CONCERT, NYC SYMPHONIC BAND CONCERT, PIANO HONORS SHOWCASE, BARBARA E. FIELD CHAMBER MUSIC CONCERT, AND STRING 'STRAVAGANZA. THE YEAR CULMINATED IN A SPECIAL ISO AT THIRD STREET CONCERT AT ALICE TULLY HALL.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Peter Flint Jr Chair | OfficerTrustee | 1 | $0 |
Erik D Lindauer Vice President | OfficerTrustee | 1 | $0 |
Ariel Fausto Vice President | OfficerTrustee | 1 | $0 |
Matt L Sperling Vice President | OfficerTrustee | 1 | $0 |
William Livingston IV Treasurer | OfficerTrustee | 1 | $0 |
Andrea Dipasquale Secretary | OfficerTrustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $870,978 |
Related organizations | $0 |
Government grants | $1,827,509 |
All other contributions, gifts, grants, and similar amounts not included above | $2,357,335 |
Noncash contributions included in lines 1a–1f | $78,134 |
Total Revenue from Contributions, Gifts, Grants & Similar | $5,055,822 |
Total Program Service Revenue | $5,251,344 |
Investment income | $243,956 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $388,853 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $10,995,495 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $1,091,268 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $832,629 |
Compensation of current officers, directors, key employees. | $267,520 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $4,903,745 |
Pension plan accruals and contributions | $85,194 |
Other employee benefits | $420,830 |
Payroll taxes | $479,952 |
Fees for services: Management | $0 |
Fees for services: Legal | $52,298 |
Fees for services: Accounting | $44,398 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $32,477 |
Fees for services: Other | $355,379 |
Advertising and promotion | $44,165 |
Office expenses | $259,882 |
Information technology | $121,882 |
Royalties | $0 |
Occupancy | $247,949 |
Travel | $14,752 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $124,688 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $549,433 |
Insurance | $114,859 |
All other expenses | $79,580 |
Total functional expenses | $10,298,899 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $417,364 |
Savings and temporary cash investments | $1,195,004 |
Pledges and grants receivable | $485,367 |
Accounts receivable, net | $2,014,746 |
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 | $51,558 |
Net Land, buildings, and equipment | $3,888,420 |
Investments—publicly traded securities | $11,513,279 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $570,737 |
Total assets | $20,136,475 |
Accounts payable and accrued expenses | $691,086 |
Grants payable | $0 |
Deferred revenue | $2,457,411 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $3,148,497 |
Net assets without donor restrictions | $9,575,358 |
Net assets with donor restrictions | $7,412,620 |
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 | $20,136,475 |