Sacramento Preparatory Music Academy
- Assets
- $91.5k
- Revenue
- $299.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Folsom, CA
- Founding
- 12/2015
- Data as of
- 06/2022
- EIN
- 81-0754644
Organization Overview
Sacramento Preparatory Music Academy is located in Folsom, CA. The organization was established in 2015. 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, Sacramento Preparatory Music Academy employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sacramento Preparatory Music Academy 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, Sacramento Preparatory Music Academy generated $299.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.8% each year . All expenses for the organization totaled $678.4k during the year ending 06/2022. 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 PRESENT PUBLIC PERFORMANCES AND RECITALS OF MUSIC AND RELATED ART FORMS; TO SPONSOR LECTURE-DEMONSTRATIONS OF TOPICS RELATED TO MUSIC EDUCATION AND RELATED ART FORMS, AND TO INCREASE COMMUNITY AWARENESS OF THE IMPORTANCE OF ARTISTIC EXPRESSION FOR INDIVIUDAL SATISFACTION AND GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DUE TO COVID, THE ORGANIZATION WAS MOSTLY SHUT DOWN DURING THE TWO QUARTERS IN 2021. WE WENT BACK TO WORK IN THE FALL 2021 PROVIDING CHARITABLE MUSIC EDUCATION TO HOLLYWOOD PARK ELMENTARY SCHOOL & WEST CAMPUS HIGH SCHOLL IN THE SACRAMENTO CITY UNIFIED SCHOOL DISTRICT. WE SERVED OVER 3,500 STUDENTS 100% SCHOLARSHIP LESSONS DURING THE REGULAR CALENDAR SCHOOL YEAR. POST COVD, WE HAVE BEEN PRODUCING PERFORMANCES ONCE AGAIN. WE PRODUCED A 2-CITY TOUR IN FALL OF 2021, WINTER OF 2021, SPRING 2022 AND FALL OF 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Mcclara CEO | OfficerTrustee | 40 | $105,676 |
Melinda Banister Treasurer | OfficerTrustee | 2 | $0 |
Peter Petty Secretary | OfficerTrustee | 2 | $0 |
Jeff Cox Director | Trustee | 1 | $0 |
Jewelyn Williams Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $155,458 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,215 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $165,673 |
| Total Program Service Revenue | $133,624 |
| Investment income | $2 |
| 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 | $299,299 |
| 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. | $38,000 |
| Compensation of current officers, directors, key employees. | $3,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $105,672 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,267 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $127,595 |
| Advertising and promotion | $77,236 |
| Office expenses | $23,162 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,333 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $480 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,587 |
| Insurance | $985 |
| All other expenses | $0 |
| Total functional expenses | $678,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,429 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $29,045 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $91,474 |
| Accounts payable and accrued expenses | $4,612 |
| 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 | $504,900 |
| Total liabilities | $509,512 |
| Net assets without donor restrictions | -$418,038 |
| 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 | $91,474 |