Corona Youth Music Project Inc
- Assets
- $34.1k
- Revenue
- $96.2k
- Investments
- $0.0
- Employees
- 6
- Location
- New York, NY
- Founding
- 06/2012
- Data as of
- 06/2022
- EIN
- 45-4330826
Organization Overview
Corona Youth Music Project Inc is located in New York, NY. The organization was established in 2012. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 06/2022, Corona Youth Music Project Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Corona Youth Music Project 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 06/2022, Corona Youth Music Project Inc generated $96.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $77.6k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 7 years. 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 TUITION-FREE MUSIC EDUCATION TO CHILDREN IN NEW YORK CITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES GROUP INSTRUMENT INSTRUCTION 7.5 HOURS PER WEEK TO 92 STUDENTS,AGES 5 TO 14 IN TWO ORCHESTRAS. THE GOAL IS TO CONTINUE WITH THE ORCHESTRASTUDENTS THROUGH ADULTHOOD.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alvaro F Rodas Secretary And Ed | OfficerTrustee | 40 | $25,000 |
Jinsoo Ro Board Member | Trustee | 12 | $0 |
Linda Golding President | Trustee | 12 | $0 |
Diane Wondisford Treasurer | Trustee | 12 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $64,562 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,654 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $96,216 |
| 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 | $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 | $96,216 |
| 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. | $25,000 |
| Compensation of current officers, directors, key employees. | $25,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,560 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,174 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $990 |
| Advertising and promotion | $0 |
| Office expenses | $239 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,251 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,627 |
| Insurance | $1,467 |
| All other expenses | $0 |
| Total functional expenses | $77,550 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,282 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,720 |
| 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 | $7,092 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $34,094 |
| 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 | $34,094 |
| 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 | $34,094 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Corona Youth Music Project Inc has recieved totaling $3,411.
| Awarding Organization | Amount |
|---|---|
D Addario Foundation Inc Farmingdale, NY PURPOSE: TO SUPPORT GROWTH AND APPRECIATION OF MUSIC | $3,148 |
Grossman Family Charitable Funds Inc Bethesda, MD PURPOSE: FOR PROMOTION OF MUSIC EDUCATION OF YOUTH | $250 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $13 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Camp Harbor View Foundation Inc Boston, MA | $69,208,202 | $14,199,041 |
Utec Inc Lowell, MA | $20,133,809 | $14,604,530 |
Shira Association Inc Brooklyn, NY | $274,073 | $8,368,956 |
Chdfs Inc New York, NY | $4,427,558 | $6,216,072 |
Metropolitan Development Center Inc Brooklyn, NY | $2,978,131 | $7,487,789 |
Deal Sephardic Youth Center Inc Oakhurst, NJ | $15,545,893 | $7,918,218 |
Exalt Youth New York, NY | $8,260,540 | $8,836,761 |
Nyc Kids Rise Inc Long Island City, NY | $4,984,268 | $4,157,127 |
Urban Dove Inc Long Island City, NY | $5,170,319 | $5,441,041 |
Horizons National Student Enrichment Program Inc Westport, CT | $6,013,839 | $4,724,137 |
Zichron Chaim Inc Monsey, NY | $8,440,547 | $4,476,093 |
Youthbuild Newark Newark, NJ | $8,371,396 | $7,058,437 |