Academy Of Music Of Philadelphia Inc

Organization Overview

Academy Of Music Of Philadelphia Inc is located in Philadelphia, PA. The organization was established in 1956. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Academy Of Music Of Philadelphia 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 08/2021, Academy Of Music Of Philadelphia Inc generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $3.4m during the year ending 08/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO RAISE FUNDS THROUGH THE RESTORATION AND PRESERVATION FUND TO RESTORE AND MAINTAIN THE (CONTINUED):164-YEAR-OLD ACADEMY OF MUSIC, THE OLDEST KNOWN CONTINUOUSLY OPERATING OPERA HOUSE IN THE UNITED STATES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION'S PRIMARY PROGRAM SERVICE ACTIVITY IS TO RAISE FUNDS FOR THE RESTORATION OF THE ACADEMY OF MUSIC BUILDING THROUGH SPECIAL EVENTS AND A CAPITAL CAMPAIGN PROGRAM. COMBINED PROCEEDS ARE USED TO FUND NUMEROUS RESTORATION PROJECTS AS APPROVED BY THE ACADEMY BOARD. THE ACADEMY OF MUSIC BUILDING HAS BEEN DESIGNATED AS A NATIONAL HISTORIC LANDMARK AND THEREFORE ITS UPKEEP AND MAINTENANCE IS THE ORGANIZATION'S PRIMARY CONCERN. FOR THE YEAR ENDED AUGUST 31, 2021, THE RESTORATION PROJECTS INCLUDED RESTORATION OF THE BALCONY, REPAIRS TO THE BUILDING'S ROOF AND CUPOLA, AND ELEVATOR REPLACEMENT. IN ADDITION, THE AOM CONTINUED ITS MULTI-YEAR CAPITAL RENOVATIONS PROJECT VIA THE PILOT PROGRAM WHICH CONSISTED OF EVALUATION, ASSESSMENT AND DESIGN WORK. (CONTINUED):THESE PROGRAM SERVICE ACTIVITY EXPENDITURES ARE REPORTED AS PART OF FIXED ASSETS IN SCHEDULE D, PART VI.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Wyatt Elevator Company
Elevator Repair
$232,530
Hyatt At The Bellevue
Catering
$228,083
Haverstick-borthwick Company
Construction
$570,000
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$539,889
Related organizations$1,161,441
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,776,735
Noncash contributions included in lines 1a–1f $33,263
Total Revenue from Contributions, Gifts, Grants & Similar$3,478,065
Total Program Service Revenue$0
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $8,500
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events -$226,291
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,266,946

Grants Recieved

Over the last fiscal year, we have identified 4 grants that Academy Of Music Of Philadelphia Inc has recieved totaling $22,106.

Awarding OrganizationAmount
$10,106
Pew Charitable Trusts

Washington, DC

PURPOSE: Matching Gift

$10,000
Henry L Kimelman Family Foundation

Wilmington, DE

PURPOSE: GENERAL & UNRESTRICTED

$1,000
Phamsquad Foundation

Media, PA

PURPOSE: TO SUPPORT THE MISSION OF THE ORGANIZATION.

$1,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1
Ending Balance$1

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