Studio School Of Music
- Assets
- $787.9k
- Revenue
- $794.4k
- Investments
- $0.0
- Employees
- 7
- Location
- Richardson, TX
- Founding
- 06/2013
- Data as of
- 12/2022
- EIN
- 46-4916791
Organization Overview
Studio School Of Music, operating under the name Studio School of Music, is located in Richardson, TX. The organization was established in 2013. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Studio School of Music employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Studio School of 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 12/2022, Studio School of Music generated $794.4k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $415.5k during the year ending 12/2022. While expenses have increased by 0.3% per year over the past 4 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
AT THE STUDIO SCHOOL OF MUSIC, OUR MISSION IS TO INSPIRE AND EMPOWER INDIVIDUALS THROUGH THE TRANSFORMATIVE POWER OF MUSIC EDUCATION. WE BELIEVE THAT EVERYONE DESERVES ACCESS TO HIGH-QUALITY MUSICAL INSTRUCTION, REGARDLESS OF THEIR BACKGROUND OR FINANCIAL CIRCUMSTANCES. OUR AIM IS TO CULTIVATE A VIBRANT AND INCLUSIVE COMMUNITY WHERE STUDENTS OF ALL AGES CAN DISCOVER, DEVELOP, AND EXPRESS THEIR MUSICAL TALENTS, FOSTERING A LIFELONG LOVE AND APPRECIATION FOR MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICE ACCOMPLISHMENTS WE ACHIEVED HUGE SUCCESS AS OUR 75 STUDENTS WERE FULLY TRAINED THIS YEAR AND ENABLED THEM TO BECOME SELF MADE PROFESSIONALS IN THE MUSIC INDUSTRY AND NOW THEY ARE INDEPENDENT AND SUPPORTING THEIR OWN EDUCATION AND THEIR FAMILIES THROUGH GENERATING INCOMES.
MANAGEMENT AND ADMISSIVE STAFF HAVE KEY ROLES IN IMPROVING THE ORGANIZATION GROWTH AND WE ACHIEVED SIGNIFICANT GROWTH AS COMPARED TO THE PREVIOUS YEAR.
FUNDRAISING: PROGRAM STAFF WERE ENGAGED TO RAISE FUNDS AND WE ACHIEVED HUGE SUCCESS BY ARRANGING TWO EVENTS, 5 YEAR ANNIVERSARY GALA, AND 8 YEAR ANNIVERSARY BENEFIT MUSICAL. THIS YEAR WE GENERATED MORE FUNDS AS COMPARE TO PRIOR YEARS AND THEIR 15% TIME WAS USED FOR RAISING FUNDS FOR EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Erby President | Officer | 20 | $78,000 |
Kelvin Harris Member | Trustee | 1 | $0 |
Kathryn Mcnorton Member | Trustee | 1 | $0 |
Jamie Kowlessar Member | Trustee | 1 | $0 |
Michelle Okyere Member | Officer | 1 | $0 |
Jackie Amos Member | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $77,400 |
| Fundraising events | $250,000 |
| Related organizations | $0 |
| Government grants | $100,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $343,001 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $770,401 |
| Total Program Service Revenue | $24,000 |
| 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 | $794,401 |
| 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. | $78,000 |
| Compensation of current officers, directors, key employees. | $78,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $300,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $1,966 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,300 |
| 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 | $0 |
| Insurance | $1,625 |
| All other expenses | $0 |
| Total functional expenses | $415,452 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $787,913 |
| 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 | $787,913 |
| 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 | $787,913 |
| 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 | $787,913 |