Heifetz International Music Institute Inc
- Assets
- $536.7k
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 6
- Location
- Staunton, VA
- Founding
- 07/1996
- Data as of
- 09/2021
- EIN
- 52-1959289
Organization Overview
Heifetz International Music Institute Inc is located in Staunton, VA. The organization was established in 1996. 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 09/2021, Heifetz International Music Institute Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heifetz International Music Institute 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 09/2021, Heifetz International Music Institute Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $1.3m during the year ending 09/2021. While expenses have increased by 3.1% per year over the past 6 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
THE MISSION OF THE HEIFETZ INSTITUTE IS TO DEVELOP THE EXPRESSIVE POTENTIAL OF EVERY PERFORMER. THROUGH INNOVATIVE PERFORMANCE & COMMUNICATION TRAINING, THE INSTITUTE TRAINS MUSICIANS TO REDEFINE THE CONCERT EXPERIENCE BY CONVEYING THE EMOTION OF THEIR MUSIC AND EXPLORING THEIR CREATIVE POTENTIAL. THE UNDERLYING PHILOSOPHY IS THAT ARTISTS EXPRESS THEIR INDIVIDUALITY NOT ONLY THROUGH TECHNICALLY ROBUST MUSIC-MAKING, BUT ALSO THROUGH EMOTIONAL AND PHYSICAL ENGAGEMENT WITH THE MUSIC THEY PLAY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT EDUCATION IN MUSIC AND THE PERFORMING ARTS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Roe President & CEO | 40 | $100,769 | |
Bruce Rosenblum Chair | OfficerTrustee | 2 | $0 |
Geoffrey Menin Secretary | OfficerTrustee | 1 | $0 |
Mark Biegel Treasurer | OfficerTrustee | 1 | $0 |
Joseph Orlick Vice-Chair | OfficerTrustee | 1 | $0 |
Chinn-Horng Nanette Chen Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $116,077 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,060,373 |
| Noncash contributions included in lines 1a–1f | $116,585 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,176,450 |
| Total Program Service Revenue | $605,343 |
| Investment income | $83 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,004 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,780,872 |
| 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 | $313,358 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $38,207 |
| Payroll taxes | $20,198 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $138 |
| Fees for services: Accounting | $4,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,509 |
| Advertising and promotion | $20,379 |
| Office expenses | $42,904 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,332 |
| Travel | $6,906 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $35 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,146 |
| Insurance | $12,998 |
| All other expenses | $8,121 |
| Total functional expenses | $1,314,479 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $463,167 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,429 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,849 |
| Prepaid expenses and deferred charges | $3,642 |
| Net Land, buildings, and equipment | $38,710 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,899 |
| Total assets | $536,696 |
| Accounts payable and accrued expenses | $575 |
| 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 | $7,466 |
| Total liabilities | $8,041 |
| Net assets without donor restrictions | $528,655 |
| 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 | $536,696 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Heifetz International Music Institute Inc has recieved totaling $111,237.
| Awarding Organization | Amount |
|---|---|
Gary And Pennie Abramson Charitable Foundation Rockville, MD PURPOSE: UNRESTRICTED FUNDS | $75,000 |
Diana & Michael David Epstein Foundation Inc Rockville, MD PURPOSE: CHARITABLE | $13,500 |
Galena-Yorktown Foundation Washington, DC PURPOSE: UNRESTRICTED FUNDS | $10,000 |
Community Foundation Of The Central Blue Ridge Staunton, VA PURPOSE: GENERAL SUPPORT | $7,500 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $5,112 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $125 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Levine Music Inc Washington, DC | $18,009,056 | $11,157,550 |
National Association For Music Education Reston, VA | $9,057,318 | $6,884,178 |
Brevard Music Center Incorporated Brevard, NC | $69,609,976 | $12,354,771 |
Imagination Stage Inc Bethesda, MD | $7,434,755 | $5,049,513 |
United States Eventing Association Leesburg, VA | $3,606,586 | $4,712,475 |
Dance Place Washington, DC | $6,291,453 | $1,912,991 |
School Of The Performing Arts In The Richmond Community Sparc Richmond, VA | $4,988,298 | $2,911,343 |
Vagabond School Of The Drama Inc Flat Rock, NC | $5,199,970 | $3,956,407 |
American String Teachers Association Incorporated Fairfax, VA | $1,824,284 | $1,512,044 |
Dance Institute Of Washington Inc Washington, DC | $1,055,707 | $1,517,581 |
Heifetz International Music Institute Inc Staunton, VA | $536,696 | $1,780,872 |
Kentucky Music Educators Assn Inc Richmond, KY | $990,506 | $1,002,541 |