Music Academy Of The West
- Assets
- $112.0m
- Revenue
- $9.3m
- Investments
- $14.9m
- Employees
- 84
- Location
- Santa Barbara, CA
- Founding
- 09/1948
- Data as of
- 12/2023
- EIN
- 95-1525814
Organization Overview
Music Academy Of The West is located in Santa Barbara, CA. The organization was established in 1948. 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 12/2023, Music Academy Of The West employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Music Academy Of The West 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 12/2023, Music Academy Of The West generated $9.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $13.0m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MUSIC ACADEMY OF THE WEST MAKES A UNIQUE AND ENDURING CONTRIBUTION TO THE WORLD OF MUSIC BY ADVANCING THE DEVELOPMENT OF THE NEXT GENERATION OF GREAT CLASSICALLY TRAINED MUSICIANS AND CULTIVATING DISCERNING, APPRECIATIVE, AND ADVENTUROUS AUDIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSIC ACADEMY PRESENTS AN ANNUAL FULL-SCHOLARSHIP SUMMER SCHOOL AND FESTIVAL FOR 135 CLASSICALLY TRAINED FELLOWS AGES 18 TO 34. IN 2023, FOR EIGHT INTENSIVE WEEKS, OUR FELLOWS STUDIED WITH OVER 50 EXCEPTIONAL TEACHING ARTISTS, PERFORMED IN MORE THAN 100 CONCERTS AND MASTERCLASSES, AND FORGED CLOSE CONNECTIONS WITH THE COMMUNITY THROUGH OUR UNIQUE COMPEER PROGRAM. MUSIC ACADEMY ALSO SEEKS TO ENGAGE DIVERSE AUDIENCES BY OFFERING $10 COMMUNITY ACCESS TICKETS, WELCOMING EVERYONE FROM ACROSS ALL GENERATIONS, CULTURES, AND BACKGROUNDS TO EXPERIENCE THE TRANSFORMATIVE POWER OF MUSIC.
YEAR-ROUND, THE MUSIC ACADEMY CONTINUES ITS COMMITMENT TO MUSIC EDUCATION, PERFORMANCE, AND CAREER-ADVANCING MENTORSHIP FOR ALUMNI. THE SING! PROGRAM IS A FREE, AFTER-SCHOOL CHORAL PROGRAM FOR LOCAL ELEMENTARY STUDENTS WHICH AIMS TO INSPIRE PERSONAL GROWTH AND EXPRESSION THROUGH MUSIC. SING! HAD OVER 220 PARTICIPANTS, HELD PROGRAMS IN 6 LOCAL SANTA BARBARA COUNTY SCHOOLS, AND OFFERED UP TO 15 PERFORMANCE OPPORTUNITIES TO CHORISTERS. MUSIC ACADEMY SUPPORTED ALUMNI CREATIVE PROJECTS AND PROGRAMS GEARED TOWARDS ENTREPRENEURIAL AND "OFF-STAGE" TRAINING THROUGH THE ALUMNI ENTERPRISE AWARDS, FAST PITCH COMPETITION, MENTORSHIP, AND SUMMER RESIDENCIES. AS PART OF THE KESTON MUSIC ACADEMY EXCHANGE (MAX) PARTNERSHIP WITH THE LONDON SYMPHONY ORCHESTRA (LSO), 12 INSTRUMENTALISTS WERE SELECTED FOR A 10-DAY LONDON RESIDENCY PERFORMING SIDE-BY-SIDE WITH LSO MUSICIANS. THE MUSIC ACADEMY ALSO ENGAGED THE SANTA BARBARA COMMUNITY THROUGH ITS FALL MARIPOSA CONCERT SERIES, MET LIVE BROADCASTS, AND BY OFFERING ITS CAMPUS SPACES TO LOCAL MUSIC TEACHERS AND PERFORMING ARTS ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maurice Singer Chair | OfficerTrustee | 20 | $0 |
Jerrold Eberhardt Vice Chair | OfficerTrustee | 20 | $0 |
Pamela Strobel Secretary | OfficerTrustee | 15 | $0 |
Ellen Barger Director | Trustee | 5 | $0 |
Judy Astbury Director | Trustee | 5 | $0 |
Margaret Cafarelli Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Frank Schipper Construction Co Construction | 12/30/23 | $324,921 |
Santa Barbara Center For The Performing Performance Production | 12/30/23 | $206,987 |
Seasons Catering Catering | 12/30/23 | $182,176 |
Termar Inc Painting | 12/30/23 | $147,316 |
Classic Charter Bus Transportation | 12/30/23 | $139,653 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $789,261 |
| Related organizations | $0 |
| Government grants | $424,258 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,909,582 |
| Noncash contributions included in lines 1a–1f | $570,826 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,123,101 |
| Total Program Service Revenue | $978,093 |
| Investment income | $1,174,678 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,566 |
| Net Gain/Loss on Asset Sales | -$484 |
| Net Income from Fundraising Events | -$41,533 |
| Net Income from Gaming Activities | $559 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,290,553 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| Grants and other assistance to domestic individuals. | $72,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $5,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,115,091 |
| Compensation of current officers, directors, key employees. | $248,580 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,854,950 |
| Pension plan accruals and contributions | $50,877 |
| Other employee benefits | $312,035 |
| Payroll taxes | $281,306 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,755 |
| Fees for services: Accounting | $184,837 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $17,281 |
| Fees for services: Investment Management | $225,419 |
| Fees for services: Other | $122,401 |
| Advertising and promotion | $370,162 |
| Office expenses | $107,710 |
| Information technology | $259,008 |
| Royalties | $0 |
| Occupancy | $1,021,878 |
| Travel | $1,369,312 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $365,407 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,174,491 |
| Insurance | $107,238 |
| All other expenses | $490,049 |
| Total functional expenses | $12,997,164 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,168,290 |
| Savings and temporary cash investments | $887,251 |
| Pledges and grants receivable | $8,036,490 |
| Accounts receivable, net | $498,630 |
| 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 | $89,813 |
| Net Land, buildings, and equipment | $35,839,924 |
| Investments—publicly traded securities | $46,113,656 |
| Investments—other securities | $14,851,396 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,504,188 |
| Total assets | $111,989,638 |
| Accounts payable and accrued expenses | $1,012,019 |
| 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 | $9,523,137 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,535,156 |
| Net assets without donor restrictions | $85,052,553 |
| Net assets with donor restrictions | $16,401,929 |
| 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 | $111,989,638 |
Grants Awarded
Over the last fiscal year, Music Academy Of The West has awarded $40,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
OPERA 4 KIDS PURPOSE: ALUMNI ENTERPRISE AWARDS | $20,000 |
SPEKTRAL QUARTET PURPOSE: ALUMNI ENTERPRISE AWARDS | $20,000 |