Young Musicians Of Virginia
- Assets
- $68.2k
- Revenue
- $303.7k
- Investments
- $0.0
- Employees
- 8
- Location
- Virginia Beach, VA
- Founding
- 08/2001
- Data as of
- 05/2024
- EIN
- 54-2018258
Organization Overview
Young Musicians Of Virginia is located in Virginia Beach, VA. The organization was established in 2001. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 05/2024, Young Musicians Of Virginia employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Young Musicians Of Virginia 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, Young Musicians Of Virginia generated $303.7k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $299.6k during the year ending 05/2024. As we would expect to see with falling revenues, expenses have declined by (2.8%) 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
TO PROVIDE MUSIC AND ACADEMIC CLASSES AND EDUCATIONAL PROGRAMS FOR HOMESCHOOLED STUDENTS. ALSO TO ALLOW STUDENTS TO PARTICIPATE IN MUSIC COMPETITIONS, CONCERTS, AND FIELD TRIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL PROGRAMS, PROVIDING MUSIC AND ACADEMIC CLASSES FOR APPROXIMATELY 131 STUDENTS WHICH INCLUDED 36 ACTIVITIES SUCH AS CONCERTS, DRAMA, RECITALS, AND FIELD TRIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tyler Bucheister President | Officer | 1 | $0 |
Veronica Dowdell Secretary | Officer | 1 | $4,522 |
Lorrie Kinlaw Treasurer | Officer | 1 | $0 |
Adrianne Sanchez Vice President | Officer | 1 | $0 |
Stephanie Field Board Member | Trustee | 1 | $0 |
Allison Siff Executive Director | Officer | 15 | $12,538 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,714 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,714 |
| Total Program Service Revenue | $291,682 |
| Investment income | $8 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $248 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $303,652 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,164 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $13,597 |
| Compensation of current officers, directors, key employees. | $13,597 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,830 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,565 |
| Payroll taxes | $0 |
| Fees for services: Management | $876 |
| Fees for services: Legal | $30 |
| Fees for services: Accounting | $1,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $475 |
| Office expenses | $9,486 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,083 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,606 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $261 |
| Insurance | $3,940 |
| All other expenses | $166,929 |
| Total functional expenses | $299,604 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,184 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $50 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $68,234 |
| Accounts payable and accrued expenses | $2,066 |
| Grants payable | $0 |
| Deferred revenue | $20,071 |
| 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 | $22,137 |
| Net assets without donor restrictions | $46,097 |
| Net assets with donor restrictions | $0 |
| 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 | $68,234 |