The Music School Of Delaware Inc
- Assets
- $14.4m
- Revenue
- $12.2m
- Investments
- $0.0
- Employees
- 120
- Location
- Wilmington, DE
- Founding
- 09/1941
- Data as of
- 06/2022
- EIN
- 51-0066934
Organization Overview
The Music School Of Delaware Inc is located in Wilmington, DE. The organization was established in 1941. 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, Music School Of Delaware Inc employed 120 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Music School Of Delaware 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, Music School Of Delaware Inc generated $12.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.2% each year . All expenses for the organization totaled $3.1m during the year ending 06/2022. While expenses have increased by 3.7% 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
PROVIDE OPPORTUNITY FOR ANYONE TO ACCESS EXCELLENCE IN MUSIC TRAINING, EDUCATION, AND EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSIC SCHOOL OF DELAWARE IS OPEN TO ALL AND HAS SOMETHING FOR EVERYONE. THE SCHOOL OFFERS ON-SITE AND VIRTUAL PROGRAMMING ENCOMPASSING: PRIVATE LESSONS IN APPROXIMATELY 30 INSTRUMENTS AND VOICE; EARLY CHILDHOOD CLASSES; SUZUKI ACADEMY; ORCHESTRAL, CHORAL, AND SMALL ENSEMBLES FOR CHILDREN AND ADULTS; GROUP INSTRUCTION; MUSIC HISTORY AND MUSICIANSHIP CLASSES; MUSIC THERAPY; AN "EL SISTEMA" ENSEMBLE PROGRAM FOR UNDERSERVED POPULATIONS; PROGRAMS ESPECIALLY FOR ADULTS; AND A 3-WEEK CHAMBER MUSIC FESTIVAL THAT BRINGS PERFORMERS FROM AROUND THE WORLD TO DELAWARE EACH JUNE. INSTRUCTION IS OFFERED IN CLASSICAL, ROCK, JAZZ, AND FOLK GENRES. THE SCHOOL PRESENTS OVER 120 PUBLIC PERFORMANCES ANNUALLY. THE MUSIC SCHOOL HAS CONTINUOUSLY OPERATED SINCE ITS FOUNDING NEARLY A CENTURY AGO, IN 1924. THE ONLY STATEWIDE COMMUNITY MUSIC SCHOOL IN THE NATION, THE MUSIC SCHOOL OF DELAWARE IS NATIONALLY ACCREDITED BY THE ACCREDITING COMMISSION FOR COMMUNITY AND PRE-COLLEGIATE ARTS SCHOOLS, AND BY THE NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC, AND IS A CHARTER MEMBER OF THE NATIONAL GUILD FOR COMMUNITY ARTS EDUCATION. THE MUSIC SCHOOL RECEIVED DELAWARE GOVERNOR'S AWARD FOR THE ARTS IN 2010.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Ransom President And CEO | Officer | 50 | $116,280 |
John Du Pont Board Chair | OfficerTrustee | 10 | $0 |
Kris Venkatesh First Vice Chair | OfficerTrustee | 10 | $0 |
Richard Facciolo Second Vice Chair | OfficerTrustee | 10 | $0 |
Lawrence A Hamermesh Treasurer | OfficerTrustee | 12 | $0 |
David B Brown Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $154,155 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,369,449 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,523,604 |
| Total Program Service Revenue | $1,341,133 |
| Investment income | $603 |
| 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 | $12,233,069 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $140,610 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $149,499 |
| Compensation of current officers, directors, key employees. | $49,001 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,521,247 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $232,776 |
| Payroll taxes | $125,400 |
| Fees for services: Management | $1,635 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,611 |
| Advertising and promotion | $47,329 |
| Office expenses | $24,749 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $113,900 |
| Travel | $15,348 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,215 |
| Interest | $12,970 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $164,525 |
| Insurance | $53,737 |
| All other expenses | $44,871 |
| Total functional expenses | $3,056,619 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $655,573 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,618 |
| 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 | $31,623 |
| Net Land, buildings, and equipment | $2,929,659 |
| Investments—publicly traded securities | $10,701,277 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,353,950 |
| Accounts payable and accrued expenses | $98,999 |
| Grants payable | $0 |
| Deferred revenue | $14,448 |
| 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 | $424,883 |
| Other liabilities | $356,029 |
| Total liabilities | $894,359 |
| Net assets without donor restrictions | $3,033,821 |
| Net assets with donor restrictions | $10,425,770 |
| 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 | $14,353,950 |