Institute For The Musical Arts
- Assets
- $872.8k
- Revenue
- $189.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Goshen, MA
- Founding
- 04/1988
- Data as of
- 06/2022
- EIN
- 94-3054129
Organization Overview
Institute For The Musical Arts is located in Goshen, MA. The organization was established in 1988. According to its NTEE Classification (O40) the organization is classified as: Scouting, under the broad grouping of Youth Development and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For The Musical Arts 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, Institute For The Musical Arts generated $189.9k 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 (3.7%) each year. All expenses for the organization totaled $160.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.1%) 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
INSTRUCTION IN THE MUSICAL ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCERTS AND MUSIC INSTRUCTION.
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 |
|---|---|---|---|
Roma Baron Director | Trustee | 2 | $0 |
Elizabeth Cabraser Director | Trustee | 2 | $0 |
Ann Hackler Treasurer/cl | OfficerTrustee | 10 | $0 |
Leslie Ann Jones Director | Trustee | 2 | $0 |
Emily Lichter Director | Trustee | 2 | $0 |
June Millington President | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $152,757 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $162,757 |
| Total Program Service Revenue | $26,298 |
| Investment income | $871 |
| 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 | $189,926 |
| 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 | $37,200 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,873 |
| Payroll taxes | $4,961 |
| 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 | $9,490 |
| Advertising and promotion | $0 |
| Office expenses | $5,151 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,847 |
| Travel | $65 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,571 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,651 |
| Insurance | $14,488 |
| All other expenses | $12,581 |
| Total functional expenses | $160,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,704 |
| 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 | $5,800 |
| Net Land, buildings, and equipment | $678,995 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $88,340 |
| Total assets | $872,839 |
| Accounts payable and accrued expenses | $0 |
| 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 | $52,929 |
| Secured mortgages and notes payable | $51,450 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $221,678 |
| Total liabilities | $326,057 |
| Net assets without donor restrictions | $546,782 |
| 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 | $872,839 |