Maine Academy Of Modern Music
- Assets
- $78.1k
- Revenue
- $568.6k
- Investments
- $0.0
- Employees
- 24
- Location
- Portland, ME
- Founding
- 10/2009
- Data as of
- 08/2021
- EIN
- 26-0835852
Organization Overview
Maine Academy Of Modern Music is located in Portland, ME. The organization was established in 2009. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2021, Maine Academy Of Modern Music employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Academy Of Modern Music 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, Maine Academy Of Modern Music generated $568.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $540.0k during the year ending 08/2021. While expenses have increased by 10.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE AND SUPPORT AN INDEPENDENT MUSIC SCHOOL FOCUSED ON ROCK AND CONTEMPORARY MUSIC. THE ACADEMY IS DEDICATED TO CREATING POSITIVE LIFE EXPERIENCES FOR MAINE STUDENTS OF ALL AGES AND ABILITIES THROUGH INNOVATION AND INCLUSIVE MUSIC PROGRAMS WHICH PROMOTE RESILIENCY, SELF-EXPRESSION, CREATIVITY, AND DETERMINATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACADEMY PROVIDES STUDENTS WITH INDIVIDUAL LESSONS, GROUP INSTRUCTION, AFTER-SCHOOL WORKSHOPS, PERFORMANCE OPPORTUNITIES, AND STATEWIDE BATTLE OF THE BANDS, RECORDING STUDIO CAMPS AND ROCK CAMPS IN PORTLAND, BAR HARBOR, KENNEBUNK, AND MACHIAS, MAINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Shaw Executive Director | Officer | 40 | $68,024 |
Michelle Austin Director | Trustee | 1 | $0 |
Colin Campbell Director | Trustee | 1 | $0 |
Carolyn Fernald Director | Trustee | 1 | $0 |
Jennifer Hutchins President | Trustee | 2 | $0 |
Bob Kirby Director | 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 | $150,545 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,545 |
| Total Program Service Revenue | $414,045 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $568,581 |
| 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. | $70,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $274,347 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,509 |
| Payroll taxes | $29,677 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $155 |
| Fees for services: Accounting | $980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,067 |
| Advertising and promotion | $13,635 |
| Office expenses | $1,149 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $88,553 |
| Travel | $832 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $206 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,856 |
| All other expenses | $15,576 |
| Total functional expenses | $540,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $78,120 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $78,120 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $78,120 |
| 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 | $78,120 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Maine Academy Of Modern Music has recieved totaling $53,593.
| Awarding Organization | Amount |
|---|---|
The Prbb Foundation Bozeman, MT PURPOSE: TO FURTHER TAX EXEMPT PURPOSE. | $24,000 |
Onion Foundation Wayne, ME PURPOSE: GENERAL PURPOSE | $15,000 |
Horizon Foundation Inc Portland, ME PURPOSE: GENERAL SUPPORT | $7,000 |
Davis Family Foundation Yarmouth, ME PURPOSE: Making Music at the Children's Museum and Theater of Maine (CMTM) | $6,000 |
Phineas W Sprague Memorial Foundation Mansfield, MA PURPOSE: PRIMARY PURPOSE OF THE FOUNDATION TO MEET IRS MINIMUM DISTRIBUTION REQUIREMENTS | $1,000 |
Baird Foundation Inc Milwaukee, WI PURPOSE: ARTS | $334 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Portsmouth Music And Arts Center Inc Portsmouth, NH | $1,568,792 | $1,079,924 |
Manchester Community Music School Manchester, NH | $1,328,158 | $1,138,182 |
Upper Valley Music Center Inc Lebanon, NH | $2,795,970 | $1,982,663 |
Apple Hill Center For Chamber Music Inc East Sullivan, NH | $1,628,321 | $937,243 |
Bowdoin International Music Festival Brunswick, ME | $4,398,499 | $875,017 |
Maine Academy Of Modern Music Portland, ME | $78,120 | $568,581 |
York County Arena Association Biddeford, ME | $264,802 | $514,472 |
New Hampshire Music Festival Inc Plymouth, NH | $321,298 | $505,242 |
The 1932 Criterion Theatre Bar Harbor, ME | $3,264,172 | $729,367 |
Great Waters Music Festival Inc Wolfeboro, NH | $450,267 | $658,682 |
Friends Of The Kotzschmar Organ Inc Portland, ME | $1,004,147 | $291,264 |
Ashuelot Concerts Keene, NH | $81,430 | $0 |