Louisville Academy Of Music Inc
- Assets
- $367.5k
- Revenue
- $223.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 01/1959
- Data as of
- 05/2022
- EIN
- 61-0530107
Organization Overview
Louisville Academy Of Music Inc, operating under the name Louisville Academy Of Music, is located in Louisville, KY. The organization was established in 1959. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Louisville Academy 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 05/2022, Louisville Academy Of Music generated $223.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $228.3k during the year ending 05/2022. While expenses have increased by 1.2% per year over the past 8 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
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WEEKLY, LAM TEACHES OVER 400 STUDENTS AGES 3-83, FROM MORE THAN 50 ZIP CODES. WITH STUDENT ENROLLMENT INCREASING 30% IN THE LAST 3 YEARS, OUR 19 FACULTY TEACH OVER 12,000 LESSONS ANNUALLY. OUR CORE PROGRAMMING FOCUSES ON LONG TERM LEARNING THROUGH WEEKLY INDIVIDUAL INSTRUMENT AND VOICE INSTRUCTION. THROUGH STUDYING AN INSTRUMENT OUR STUDENTS LEARN SKILLS, WHILE DEVELOPING DISCIPLINE, POISE, AND CONFIDENCE THAT HELP THEM AS THEY MATURE AND CHOOSE THEIR LIFE PATH. WE ARE DEVOTED TO TRAINING SERIOUS MUSICIANS WHO WILL BECOME CREATIVE, INSPIRED CITIZENS.
OUR MUSIC FOR EVERYONE PROGRAM PROVIDES ONSITE MUSIC EDUCATION TO SCHOOLS AND COMMUNITY CENTERS IN UNDERSERVED PARTS OF LOUISVILLE, WE OFFER NEEDS-BASED SCHOLARSHIPS FOR OUR TRADITIONAL CLASSES AND LESSONS, AND WE HOST DIVERSE GUEST ARTISTS WHO SHARE A WIDE VARIETY OF GENRES AND SKILLS WITH OUR STUDENTS. WE ARE PROUD OF THE ENRICHING LEARNING ENVIRONMENT WE CREATE FOR ALL OF OUR STUDENTS AND THEIR VARIED INTERESTS. SINCE THE PROGRAM'S 2018 INCEPTION, MUSIC FOR EVERYONE HAS GROWN EXPONENTIALLY IN RESPONSE TO INCREASING INTEREST WE REACHED 2,000 YOUTH IN THE LOCAL COMMUNITY LAST YEAR. SUPPORT OF MUSIC FOR EVERYONE WILL HELP SUSTAIN OUR EFFORTS TO MAKE MUSIC EDUCATION WIDELY ACCESSIBLE TO DESERVING STUDENTS, REGARDLESS OF SOCIO-ECONOMIC STATUS.
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 |
|---|---|---|---|
Eleanor Livingston Treasurer | OfficerTrustee | 2 | $0 |
Anna Hayden Secretary | OfficerTrustee | 2 | $0 |
Sara Callaway Executive Director | Officer | 40 | $0 |
Will Oldham Director | Trustee | 1 | $0 |
Sheronda Shorter Director | Trustee | 1 | $0 |
David Handmaker Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,816 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,816 |
| Total Program Service Revenue | $216,225 |
| Investment income | $50 |
| 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 | $223,091 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,185 |
| 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 | $161,506 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,350 |
| 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 | $14,999 |
| Advertising and promotion | $285 |
| Office expenses | $5,624 |
| Information technology | $1,065 |
| Royalties | $0 |
| Occupancy | $9,570 |
| 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 | $4,603 |
| Insurance | $2,811 |
| All other expenses | $0 |
| Total functional expenses | $228,266 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170,858 |
| Savings and temporary cash investments | $92,689 |
| Pledges and grants receivable | $9,389 |
| Accounts receivable, net | $4,930 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,290 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $86,295 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $367,451 |
| Accounts payable and accrued expenses | $38,663 |
| 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 | $38,663 |
| Net assets without donor restrictions | $286,648 |
| Net assets with donor restrictions | $42,140 |
| 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 | $367,451 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Louisville Academy Of Music Inc has recieved totaling $57,254.
| Awarding Organization | Amount |
|---|---|
Fund For The Arts Inc Louisville, KY PURPOSE: Cultural Pass, Sustaining Impact Grant | $23,754 |
Irvin F And Alice S Etscorn Charitable Foundation Louisville, KY PURPOSE: FUNDING FOR 40 WEEKS OF INDIVIDUAL INSTRUCTIONS AND STIPEND PER STUDENT | $16,000 |
Gheens Foundation Inc Louisville, KY PURPOSE: PROVIDE PRIVATE INSTRUMENT LESSONS BOTH IN-PERSON AND ONLINE | $10,000 |
Barr Foundation Inc Louisville, KY PURPOSE: GENERAL SUPPORT | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Old Town School Of Folk Music Inc Chicago, IL | $26,291,664 | $13,585,929 |
Merit School Of Music Chicago, IL | $32,406,157 | $6,571,408 |
National Association For Music Education Reston, VA | $9,057,318 | $6,884,178 |
Cleveland Music School Settlement Cleveland, OH | $23,962,029 | $4,711,711 |
United States Eventing Association Leesburg, VA | $3,606,586 | $4,712,475 |
Peoples Music School Inc Chicago, IL | $5,536,992 | $3,227,151 |
The Patrick G and Shirley W Ryan Opera Center Chicago, IL | $0 | $2,321,702 |
School Of The Performing Arts In The Richmond Community Sparc Richmond, VA | $4,988,298 | $2,911,343 |
American String Teachers Association Incorporated Fairfax, VA | $1,824,284 | $1,512,044 |
Heifetz International Music Institute Inc Staunton, VA | $536,696 | $1,780,872 |
Cleveland Center For Arts And Technology Cleveland, OH | $1,152,482 | $1,467,063 |
Ohio Music Education Association Medina, OH | $1,669,334 | $1,339,352 |