Musical Arts Institute
- Assets
- $204.0k
- Revenue
- $517.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 06/2010
- Data as of
- 12/2021
- EIN
- 30-0603029
Organization Overview
Musical Arts Institute is located in Chicago, IL. The organization was established in 2010. According to its NTEE Classification (A68) the organization is classified as: Music, 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. Musical Arts Institute 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 12/2021, Musical Arts Institute generated $517.6k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 32.2% each year . All expenses for the organization totaled $490.9k during the year ending 12/2021. While expenses have increased by 25.3% per year over the past 3 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
MUSICAL ARTS INSTITUTE PROVIDES INTENSIVE PRIVATE AND GROUP TRAINING, AFTER SCHOOL PROGRAMMING AND OTHER SPECIALIZED LEARNING OPPORTUNITIES FOR YOUTH. WE SERVE CULTURALLY AND ECONOMICALLY UNDESERVED COMMUNITIES WHERE ACCESS TO HIGH ACCESS TO HIGH QUALITY MUSIC IS LIMITED OR NONEXISTENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAI SERVES SEVERAL CHICAOG PUBLIC SCHOOLS WITHING THE SURROUNDING CITY. STUDENTS IN THE INNER CITY OF CHIAGO ARE LEARNING THE TECHNICAL AND ARTISTIC SKILLS NEEDED FOR THEM TO REACH THEIR FULLEST POTENTIAL AS YOUNG ARTISTS. MAI PROMOTES COMMUNITY AWARENESS OF THE ARTS AND HAS ENGAGED WITH THE COMMUNITY THROUGH CULTURALLY ENRICHING EVENTS. MAI HAS SPONSORED STUDENTS/STAFF RECITALS, HOSTED YEAR ROUND WORKSHOPS FOR MUSIC STUDENTS IN DISTRESSED AREAS IN CHICAGO. MAI HAS ALSO PROVDIED FREE MUSIC CLASSES AND CONCERTS TO CHILDREN THROUGHOUT THE CITY.
MAI SERVES SEVERAL CHICAOG PUBLIC SCHOOLS WITHING THE SURROUNDING CITY. STUDENTS IN THE INNER CITY OF CHIAGO ARE LEARNING THE TECHNICAL AND ARTISTIC SKILLS NEEDED FOR THEM TO REACH THEIR FULLEST POTENTIAL AS YOUNG ARTISTS. MAI PROMOTES COMMUNITY AWARENESS OF THE ARTS AND HAS ENGAGED WITH THE COMMUNITY THROUGH CULTURALLY ENRICHING EVENTS. MAI HAS SPONSORED STUDENTS/STAFF RECITALS, HOSTED YEAR ROUND WORKSHOPS FOR MUSIC STUDENTS IN DISTRESSED AREAS IN CHICAGO. MAI HAS ALSO PROVDIED FREE MUSIC CLASSES AND CONCERTS TO CHILDREN THROUGHOUT THE CITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lana Manson Finance Executive | Officer | 40 | $27,500 |
Michael Manson Executive Director | Officer | 40 | $27,000 |
Erick Nickerson Member | Trustee | 1 | $0 |
Bert Allen Board Chairman | Trustee | 1 | $0 |
Adrienne Jones Board Vice Chairman | Trustee | 1 | $0 |
Damon Thompson Member | 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 | $279,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $279,750 |
| Total Program Service Revenue | $215,389 |
| 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 | $517,572 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $134,250 |
| Fees for services: Legal | $6,330 |
| Fees for services: Accounting | $11,337 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $141,305 |
| Advertising and promotion | $16,442 |
| Office expenses | $38,508 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,435 |
| Travel | $10,013 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,059 |
| Interest | $867 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,287 |
| Insurance | $531 |
| All other expenses | $24,071 |
| Total functional expenses | $490,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $129,497 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $59,863 |
| 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 | $14,647 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $204,007 |
| Accounts payable and accrued expenses | $351 |
| 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 | $21,172 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $50,000 |
| Other liabilities | $0 |
| Total liabilities | $71,523 |
| Net assets without donor restrictions | $132,484 |
| 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 | $204,007 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Musical Arts Institute has recieved totaling $417,711.
| Awarding Organization | Amount |
|---|---|
Iff Chicago, IL PURPOSE: Working Capital as part of the CCT program grant | $350,000 |
Surack Family Foundation Fort Wayne, IN PURPOSE: GENERAL ADMINISTRATION SUPPORT | $25,000 |
Plusoneplusoneplusone San Francisco, CA PURPOSE: Black Creatives | $25,000 |
Seabury Foundation Chicago, IL PURPOSE: GENERAL OPERATING | $10,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $6,711 |
First Bank Of Highland Park Foundation Highland Park, IL PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa County Recorders Association Ottumwa, IA | $2,929,223 | $39,789,803 |
Milwaukee World Festival Inc Milwaukee, WI | $107,459,917 | $5,773,948 |
Grant Park Orchestral Association Chicago, IL | $15,259,948 | $7,547,765 |
Jazz St Louis St Louis, MO | $11,818,193 | $2,884,733 |
Chicago Sinfonietta Inc Chicago, IL | $3,675,444 | $3,506,738 |
Ragtag Film Society Columbia, MO | $1,382,564 | $1,866,748 |
Percussive Arts Society Inc Indianapolis, IN | $5,047,679 | $2,367,696 |
Music Of The Baroque Concert Series Inc Chicago, IL | $2,610,285 | $1,900,263 |
Radio Arts Foundation Clayton, MO | $3,517,540 | $1,458,263 |
Great American Songbook Foundation Inc Carmel, IN | $8,944,393 | $1,441,715 |
Glenview Stars Hockey Assn 5 Glenview Ice Center Glenview, IL | $561,491 | $1,280,609 |
Saturday In The Park Inc Sioux City, IA | $111,911 | $911,266 |