Overview
What is Sol-La Music Academy Inc?
Sol-La Music Academy Inc, established in 2007, is a 501(c)(3) nonprofit organization situated in Santa Monica, California. With a strong commitment to providing equal opportunities in music education, they serve a varied student population, offering lessons, classes, ensembles, chamber groups, music theory, and early education to over 250 students annually. Their program spans across two 16-week semesters and individual lessons throughout the year. Sol-La is deeply invested in making music education accessible, providing tuition assistance to 50% of its on-campus students. Embracing diversity, they welcome students of all skill levels, believing music should be an integral part of every child's education. With a dedicated team of 6 employees, Sol-La's students consistently excel in competitions and secure scholarships and placements in renowned music programs.
Official website here: www.sollamusicacademy.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning a Two-Star out of Four Star rating.
Sol-La Music Academy Inc has received a Two-Star rating from Charity Navigator, indicating some areas of strength and areas that need improvement. The organization has a strong governance structure, evidenced by a fully independent board of directors and no material diversion of assets. Additionally, it scores well on aspects like accountability, with its conflict of interest policy listed and all board meeting minutes documented.
However, the organization faces challenges in its financial reporting and transparency. The absence of a whistleblower policy and a document retention policy has impacted its overall accountability score. Furthermore, its program expense ratio is relatively low at 57.06%, suggesting that a smaller portion of its expenses directly supports its programs compared to other nonprofits. These factors contribute to the organization's overall rating and call for increased focus on financial transparency and programmatic spending.
This AI summary has been generated from information found on Charity Navigator.
Is Sol-La Music Academy Inc legitimate?
Sol-La Music Academy Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sol-La Music Academy Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $98,119
Professional Fundraising Fees: $0
Other Salaries and Wages: $155,534
For more financial information, click here
Official website here: www.sollamusicacademy.org
What is the mission statement of Sol-La Music Academy Inc?
Sol-La Music Academy Inc, established as a non-profit organization in 2007, is committed to offering top-notch performing arts education. The academy operates in an inspiring and engaging environment, promoting achievement and fostering a sense of community. Their mission is centered around providing music education to students from various backgrounds and economic circumstances, believing that a rich cultural education strengthens overall learning, bridges diverse societies, and enhances the enjoyment of life.
Official website here: www.sollamusicacademy.org
Who is the CEO of Sol-La Music Academy Inc?
Banafsheh Bayati is the Trustee of Sol-La Music Academy Inc.
Official website here: www.sollamusicacademy.org
What is the revenue of Sol-La Music Academy Inc?
Sol-La Music Academy Inc's revenue in 2023 was $475,374.
Official website here: www.sollamusicacademy.org
Who are the executives of Sol-La Music Academy Inc and what are their salaries?
The average compensation at Sol-La Music Academy Inc during 2023 was $42,276. There are 6 employees and 200 volunteers at Sol-La Music Academy Inc.
Here are 14 key members and their salaries:
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Official website here: www.sollamusicacademy.org
Where can I find the form 990 for Sol-La Music Academy Inc?
Sol-La Music Academy Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.sollamusicacademy.org
Learn more at the official website: www.sollamusicacademy.org
Mission Statement of Sol-La Music Academy Inc
Sol-La Music Academy, established in 2007 as a 501(c)(3) organization, is committed to delivering exceptional music education in a supportive and engaging atmosphere. Their mission, rooted in a belief in the transformative power of cultural education, is to provide access to high-quality performing arts instruction for students from diverse backgrounds and economic circumstances. This mission is underpinned by the conviction that such education not only nurtures various aspects of learning but also fosters connections among diverse societies and enhances overall enjoyment of life.
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Impact
July, 2024
Sol-La Music Academy Inc's impact is significant in the Santa Monica community and beyond. By providing outstanding music education to over 250 students each year, Sol-LA Music Academy creates a vibrant and engaging environment that fosters achievement and community. Notably, the academy offers a wide range of music education programs, including lessons, classes, ensembles, chamber groups, music theory, and early education.
One of the standout aspects of Sol-La's impact is its commitment to making music education accessible to all children. Over 50% of students receive tuition assistance, ensuring that financial circumstances do not hinder young musicians from pursuing their passion. By embracing children of all levels and backgrounds, Sol-La demonstrates its belief that music should be an integral part of every child's education.
Moreover, Sol-La Music Academy's dedication to excellence is reflected in the success of its students. These young musicians consistently excel in competitions throughout Southern California, receive scholarship awards, and gain acceptances to prestigious university and summer music programs. By nurturing the commitment and talent of high-achieving students, Sol-La Music Academy sets a standard of excellence that resonates both within the local community and in the broader music education landscape.
This information is meant to be a general summary of Sol-La Music Academy Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $2
- Program Service Revenue: $221,742
- Gross Receipts: $475,374
Assets and Liabilities:
- Total Assets: $334,889
- Total Liabilities: $13,020
- Net Assets: $321,869
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Tuition
Revenue
$221,742
Organization Details
Founding Year
2007
Phone
(310) 828-2912Principal Officer
Banafsheh Bayati
Main Address
1812 Stanford St, Santa Monica, CA, 90404
Website
www.sollamusicacademy.orgNTEE Category
Code: A6E - Arts
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