Korean American Music Academy
- Assets
- $52.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Tujunga, CA
- Founding
- 01/1991
- Data as of
- 08/2021
- EIN
- 95-4290753
Organization Overview
Korean American Music Academy is located in Tujunga, CA. The organization was established in 1991. 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. Korean American 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 08/2021, Korean American Music Academy generated $115.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $105.1k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (4.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
IN THE YEAR OF FISCAL YEAR 20-21, KOREAN AMERICAN MUSIC ACADEMY CONTINUED TO PROVIDE MUSIC EDUCATION, AND CONCERT UNDER COVID-19 . THE ANNUAL CONCERT WAS HELD IN 2021.
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 |
|---|---|---|---|
Tim Choi CEO | 5 | $0 | |
Yoosun Kim Secretary | 5 | $0 | |
Seung Kyung Yang CFO | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $115,388 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $69 |
| Total Revenue | $115,457 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $52,800 |
| Professional fees and other payments to independent contractors | $37,285 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $13,992 |
| Total expenses | $105,077 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $51,950 |
| Other assets | $0 |
| Total assets | $51,950 |
| Total liabilities | $0 |
| Net assets or fund balances | $51,950 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Colburn School Los Angeles, CA | $335,953,493 | $44,139,579 |
Music Academy Of The West Santa Barbara, CA | $120,750,921 | $15,444,605 |
Community Music Center San Francisco, CA | $15,281,174 | $7,950,655 |
Community School Of Music And Arts Mountain View, CA | $18,628,663 | $6,488,682 |
East Bay Center For The Performing Arts Richmond, CA | $17,638,229 | $4,210,824 |
Pasadena Conservatory Of Music Pasadena, CA | $15,881,465 | $7,957,752 |
Rlg Land Foundation Bakersfield, CA | $25,153,075 | $1,533,826 |
Etm-La Inc Burbank, CA | $1,833,553 | $2,704,236 |
Northwest Childrens Theater And School Inc Portland, OR | $1,969,323 | $1,602,828 |
Northwest Professional Dance Project Portland, OR | $1,772,788 | $1,279,998 |
Stanford Jazz Workshop Stanford, CA | $2,242,976 | $2,072,120 |
College Of Adaptive Arts Saratoga, CA | $617,789 | $1,346,565 |