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 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $1.3m during the year ending 09/2021. While expenses have increased by 2.6% 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
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
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chinn-Horng Nanette Chen Director | Trustee | 1 | $0 |
Bruce Rosenblum Chair | OfficerTrustee | 2 | $0 |
Geoffrey Menin Secretary | OfficerTrustee | 1 | $0 |
Roberta Pieczenik PHD Director | Trustee | 1 | $0 |
Henry A Rosenberg Jr Director | Trustee | 1 | $0 |
Pennie Abramson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,176,450 |
| 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 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 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 | $0 |
| 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 |
| 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 | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $528,655 |