Midwest Young Artists
- Assets
- $9.8m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 66
- Location
- Highwood, IL
- Founding
- 08/1972
- Data as of
- 05/2022
- 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 05/2022, Midwest Young Artists employed 66 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 05/2022, Midwest Young Artists generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $1.2m during the year ending 05/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 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
2022
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 Executive Director | OfficerTrustee | 40 | $73,659 |
Ken Michaels Secretary | OfficerTrustee | 4 | $0 |
Kelly Corley Chair | OfficerTrustee | 4 | $0 |
Tom Sharp Treasurer | OfficerTrustee | 4 | $0 |
Eric Falberg Board Member | Trustee | 2 | $0 |
Derek Gover Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $134,096 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $525,649 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $659,745 |
| Total Program Service Revenue | $634,461 |
| Investment income | $18,906 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$122,482 |
| Net Income from Fundraising Events | -$8,734 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,202,624 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $70,732 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $98,650 |
| Compensation of current officers, directors, key employees. | $39,460 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $550,776 |
| Pension plan accruals and contributions | $19,628 |
| Other employee benefits | $32,238 |
| Payroll taxes | $35,434 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,791 |
| Fees for services: Accounting | $17,707 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,896 |
| Advertising and promotion | $11,304 |
| Office expenses | $36,336 |
| Information technology | $9,016 |
| Royalties | $0 |
| Occupancy | $68,112 |
| Travel | $1,845 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,240 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,004 |
| Insurance | $57,779 |
| All other expenses | $9,032 |
| Total functional expenses | $1,207,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,076,795 |
| Savings and temporary cash investments | $162,859 |
| Pledges and grants receivable | $60,973 |
| Accounts receivable, net | $18,328 |
| 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 | $6,526,169 |
| Investments—publicly traded securities | $1,549,294 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $384,586 |
| Total assets | $9,779,004 |
| Accounts payable and accrued expenses | $13,095 |
| Grants payable | $0 |
| Deferred revenue | $31,555 |
| 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 | $0 |
| Total liabilities | $44,650 |
| Net assets without donor restrictions | $8,870,763 |
| Net assets with donor restrictions | $863,591 |
| 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 | $9,779,004 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Midwest Young Artists has recieved totaling $215,173.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $115,650 |
Negaunee Foundation Ltd Northbrook, IL PURPOSE: UNRESTRICTED USE | $40,000 |
Schuler Education Foundation Lake Forest, IL PURPOSE: GENERAL SUPPORT | $27,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,511 |
John R Halligan Charitable Fund Bannockburn, IL PURPOSE: UNRESTRICTED USE | $7,500 |
Highland Park Community Foundation Highland Park, IL PURPOSE: General Support | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kansas City Symphony Kansas City, MO | $64,822,369 | $17,397,853 |
Milwaukee Symphony Orchestra Inc Milwaukee, WI | $122,941,209 | $33,243,126 |
Saint Louis Symphony Endowment Trust Saint Louis, MO | $280,111,729 | $18,922,089 |
Indiana Symphony Society Inc Indianapolis, IN | $13,063,766 | $26,550,940 |
The Louisville Orchestra Inc Louisville, KY | $7,756,568 | $11,516,592 |
Fort Wayne Philharmonic Orchestra Inc Fort Wayne, IN | $27,926,694 | $5,947,084 |
Madison Symphony Orchestra Inc Madison, WI | $6,807,074 | $3,792,114 |
Des Moines Symphony Association Des Moines, IA | $12,208,795 | $2,653,432 |
Milwaukee Youth Symphony Orchestra Inc Milwaukee, WI | $9,958,210 | $2,491,222 |
Elgin Symphony Orchestra Assoc Elgin, IL | $718,957 | $2,098,094 |
Quad City Symphony Orchestra Association Davenport, IA | $1,491,842 | $2,535,869 |
Wisconsin Chamber Orchestra Inc Madison, WI | $6,414,052 | $3,173,196 |