Magnificat Institute Of Sacred Music Inc
- Assets
- $42.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lancaster, MA
- Founding
- 10/2006
- Data as of
- 06/2022
- EIN
- 20-3227346
Organization Overview
Magnificat Institute Of Sacred Music Inc is located in Lancaster, MA. The organization was established in 2006. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnificat Institute Of Sacred Music Inc 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, Magnificat Institute Of Sacred Music Inc generated $187.3k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $223.5k during the year ending 06/2022. While expenses have increased by 12.3% per year over the past 3 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul F Jernberg President | 40 | $99,807 | |
Michael Nohrden Clerk | 0 | $0 | |
John Smillie Treasurer | 0 | $0 | |
Cindy Montanaro Director | 0 | $0 | |
George A Ross Director | 0 | $0 | |
Bernard Towne Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $175,000 |
| Total Program Service Revenue | $12,138 |
| Membership dues | $0 |
| Investment income | $114 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $187,252 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $167,028 |
| Professional fees and other payments to independent contractors | $3,607 |
| Occupancy, rent, utilities, and maintenance | $1,151 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $51,676 |
| Total expenses | $223,462 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $42,776 |
| Other assets | $0 |
| Total assets | $42,776 |
| Total liabilities | $4,906 |
| Net assets or fund balances | $37,870 |
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