Midwest Young Artists
- Assets
- $10.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 49
- Location
- Highwood, IL
- Founding
- 08/1972
- Data as of
- 05/2024
- EIN
- 23-7179740
Organization Overview
Midwest Young Artists is located in Highwood, IL. The organization was established in 1972. According to its NTEE Classification (A69) the organization is classified as: Symphony Orchestras, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 05/2024, Midwest Young Artists employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midwest Young Artists 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 05/2024, Midwest Young Artists generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $1.3m during the year ending 05/2024. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
MISSION OF MYA IS TO BUILD A HOME WITH THE POWER OF MUSIC TO ENRICH THE LIVES OF THE STUDENTS AND THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF MUSIC EDUCATION, PERFORMACE ABILITIES AND ACHIEVEMENT FOR APPROXIMATELY 500 STUDENTS AGES 8-19 IN PERFORMING ORCHESTRAL, CHAMBER, JAZZ AND CHORAL MUSIC.
ORCHESTRAL STUDENTS HAVE THE CHANCE TO PERFORM IN PREMIERE PERFORMANCE VENUES WITH WORLD-RENOWNED CONDUCTORS AND GUEST ARTISTS ALONG WITH THE OPPORTUNITY TO PERFORM IN MULTIPLE COMPETITIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allan Dennis Founder/president | OfficerTrustee | 40 | $53,884 |
Martha Arroyo Chair | OfficerTrustee | 4 | $0 |
Tom Sharp Treasurer | OfficerTrustee | 4 | $0 |
Eric Falberg Board Member | Trustee | 2 | $0 |
Michelle Stone Board Member | Trustee | 2 | $0 |
J Schneider Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $117,669 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $580,496 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $698,165 |
| Total Program Service Revenue | $729,835 |
| Investment income | $120,605 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,303 |
| Net Income from Fundraising Events | $75 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,587,915 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $77,277 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $97,799 |
| Compensation of current officers, directors, key employees. | $24,450 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $650,659 |
| Pension plan accruals and contributions | $4,241 |
| Other employee benefits | $24,094 |
| Payroll taxes | $62,186 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,555 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,649 |
| Office expenses | $52,040 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $80,139 |
| Travel | $1,717 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $961 |
| Interest | $820 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,538 |
| Insurance | $70,985 |
| All other expenses | $200 |
| Total functional expenses | $1,279,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,727 |
| Savings and temporary cash investments | $1,192,562 |
| Pledges and grants receivable | $2,578 |
| Accounts receivable, net | $111,522 |
| 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 | $0 |
| Net Land, buildings, and equipment | $6,568,423 |
| Investments—publicly traded securities | $2,154,618 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $494,156 |
| Total assets | $10,661,586 |
| Accounts payable and accrued expenses | $25,605 |
| Grants payable | $0 |
| Deferred revenue | $69,254 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,462 |
| Total liabilities | $117,321 |
| Net assets without donor restrictions | $9,740,386 |
| Net assets with donor restrictions | $803,879 |
| 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 | $10,661,586 |