Bronx School For Music Inc
- Assets
- $106.5k
- Revenue
- $419.8k
- Investments
- $0.0
- Employees
- 12
- Location
- Bronx, NY
- Founding
- Data as of
- 06/2022
- EIN
- 85-4066770
Organization Overview
Bronx School For Music Inc is located in Bronx, NY. According to its NTEE Classification (A6E) the organization is classified as: Performing Arts Schools, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Bronx School For Music Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bronx School For 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, Bronx School For Music Inc generated $419.8k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 48.9% each year . All expenses for the organization totaled $371.4k during the year ending 06/2022. 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
BRONX SCHOOL OF MUSIC'S MISSION IS TO PROVIDE CHILDREN OF THE BRONX COMMUNITY WITH AFFORDABLE AND HIGH-QUALITY PRIVATE INSTRUMENTAL MUSIC LESSONS AND MUSIC ENRICHMENT CLASSES IN A FACILITY THAT IS DEDICATED TO THE STUDENTS IT SERVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BRONX SCHOOL FOR MUSIC PROVIDES BRONX CHILDREN WITH AFFORDABLE AND ACCESSIBLE INDIVIDUAL AND GROUP MUSIC INSTRUCTION IN A SPACE ENTIRELY DEDICATED TO MUSICAL INSTRUCTION AND EXPLORATION. THE HEART OF THE BRONX SCHOOL FOR MUSIC'S PROGRAM IS TO FOCUS ON INDIVIDUALLY CATERED, ONE-ON-ONE MUSIC INSTRUCTION FROM LEADING PERFORMERS AND EDUCATORS BASED IN NEW YORK CITY . CHILDREN UNDER THE AGE OF FIVE ENROLL IN EARLY CHILDHOOD MUSIC AND TRANSITION TO PRIVATE LESSONS WHEN THEY ARE ELIGIBLE. WE BELIEVE THAT AN ENVIRONMENT DEDICATED TO THE ARTS WILL INSPIRE STUDENTS TO EXPLORE THEIR ARTISTIC SKILLS, OFFER THEM A SOCIAL OUTLET TO SHARE TALENTS WITH LIKE-MINDED PEERS, AND ENCOURAGE THEM TO BUILD NEW RELATIONSHIPS ACROSS OUR SCHOOL COMMUNITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip Kwoka President | OfficerTrustee | 5 | $26,660 |
Thomas Winter-Aabo Treasurer | OfficerTrustee | 5 | $0 |
Isabel Hidrobo Secretary | OfficerTrustee | 5 | $0 |
Ken Simard Director | Trustee | 1 | $0 |
Gloria Huskey Director | Trustee | 1 | $0 |
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 | $202,048 |
| Noncash contributions included in lines 1a–1f | $20,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $202,048 |
| Total Program Service Revenue | $217,740 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $419,788 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,320 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $41,536 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $133,995 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,212 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,400 |
| Fees for services: Accounting | $900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,703 |
| Advertising and promotion | $3,539 |
| Office expenses | $9,808 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,318 |
| Travel | $809 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,120 |
| Insurance | $5,048 |
| All other expenses | $7,735 |
| Total functional expenses | $371,432 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,698 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,740 |
| 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 | $3,500 |
| Net Land, buildings, and equipment | $36,523 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $106,461 |
| Accounts payable and accrued expenses | $523 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $523 |
| Net assets without donor restrictions | $105,938 |
| 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 | $106,461 |