School For Strings Inc
- Assets
- $12.1m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 36
- Location
- New York, NY
- Founding
- 09/1977
- Data as of
- 08/2022
- EIN
- 51-0201835
Organization Overview
School For Strings Inc is located in New York, NY. The organization was established in 1977. 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 08/2022, School For Strings Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. School For Strings 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 08/2022, School For Strings Inc generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $1.5m during the year ending 08/2022. As we would expect to see with falling revenues, expenses have declined by (0.4%) 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 MUSIC STUDENTS WITH THE NECESSARY FACILITIES, EQUIPMENT, AND INSTRUCTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EXPENSES AS REPORTED IN PART IX WERE INCURRED TO HELP PROVIDE MUSIC STUDENTS WITH THE NECESSARY FACILITIES, EQUIPMENT, AND INSTRUCTORS TO HELP DEVELOP AND ENHANCE THEIR MUSICAL TALENTS. FOR THE YEAR ENDED AUGUST 31, 2022, THE NUMBER OF STUDENTS AND INSTRUCTORS THAT PARTICIPATED IN THE PROGRAM WERE 265 AND 32, RESPECTIVELY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexander Yudkovsky Executive Director | OfficerTrustee | 40 | $132,874 |
Gregory Galterio Chairman/president/trustee | OfficerTrustee | 0.1 | $0 |
Philip Toh Treasurer/trustee | OfficerTrustee | 0.5 | $0 |
Juliana Pereira Secretary/trustee | OfficerTrustee | 0.1 | $0 |
Carla Solomon Trustee | Trustee | 0.1 | $0 |
Mark Steinberg Trustee | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $26,700 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $39,130 |
| Noncash contributions included in lines 1a–1f | $3,148 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $65,830 |
| Total Program Service Revenue | $1,104,859 |
| Investment income | $192,652 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $79,641 |
| Net Income from Fundraising Events | $51,017 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,493,999 |
| 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. | $132,874 |
| Compensation of current officers, directors, key employees. | $34,547 |
| Compensation to disqualified persons | $758,931 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $52,855 |
| Payroll taxes | $74,381 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $22,895 |
| Office expenses | $12,478 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $119,826 |
| Insurance | $43,959 |
| All other expenses | $55,315 |
| Total functional expenses | $1,518,961 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,146,935 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,147 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,121 |
| Prepaid expenses and deferred charges | $20,204 |
| Net Land, buildings, and equipment | $784,742 |
| Investments—publicly traded securities | $9,117,532 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000,000 |
| Total assets | $12,108,681 |
| Accounts payable and accrued expenses | $59,658 |
| Grants payable | $0 |
| Deferred revenue | $71,723 |
| 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 | $131,381 |
| Net assets without donor restrictions | $11,937,432 |
| Net assets with donor restrictions | $39,868 |
| 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 | $12,108,681 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that School For Strings Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Stephanie And Carter Mcclelland Foundation New York, NY PURPOSE: UNRESTRICTED GRANT FOR DONEE'S EXEMPT PURPOSE. | $1,000 |
Endowment Analysis
| Beg. Balance | $2,443,746 |
| Net Contributions | $1,503 |
| Ending Balance | $2,445,249 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
School Of American Ballet Inc New York, NY | $111,037,435 | $21,205,372 |
Settlement Music School Of Philadelphia Philadelphia, PA | $34,802,698 | $14,057,233 |
Society Of The Third Street Music School Settlement Inc New York, NY | $23,512,540 | $9,331,737 |
Professional Childrens School Inc New York, NY | $20,795,903 | $7,913,959 |
Elaine Kaufman Cultural Center-Lucy Moses School For Music And Dance New York, NY | $27,086,297 | $8,434,600 |
Usdan Center For The Creative And Performing Arts Wheatley Heights, NY | $9,094,063 | $7,842,834 |
The Brooklyn Queens Conservatory Of Music Brooklyn, NY | $5,364,852 | $5,242,264 |
South Shore Conservatory Of Music Inc Hingham, MA | $8,426,542 | $4,813,797 |
Academy Of Vocal Arts Philadelphia, PA | $44,375,102 | $5,042,502 |
Neighborhood Music School Inc New Haven, CT | $8,041,622 | $5,408,099 |
Marlboro School Of Music Inc Philadelphia, PA | $99,638,142 | $11,583,017 |
Hoff Barthelson Music School Scarsdale, NY | $5,808,540 | $3,629,362 |