Overview
What is The Music Academy Nfp?
The Music Academy NFP, established in 1985 and officially incorporated as a nonprofit organization in Illinois in 2011, is a dedicated community music school. Its primary mission is to inspire a lifelong love of music and the arts in students, catering to learners of all ages, from prenatal stages to individuals in their 70s and 80s. The academy offers high-quality, affordable instruction and performance opportunities to its students, ensuring inclusivity regardless of their age or ability. With a team of 33 dedicated individuals, the Music Academy NFP strives to provide an enriching and accessible music education experience.
Official website here: www.musicacademyinrockford.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
The Music Academy Nfp has achieved an impressive Four-Star rating with a score of 97%, indicating a high level of accountability and financial health. The rating is based entirely on their financial practices, which are assessed through a single beacon score. This highlights the organization's commitment to transparency and effective management of resources.
Strengths of The Music Academy Nfp include a strong independent board, with 83% of its members being independent, and effective financial oversight as evidenced by a low liabilities to assets ratio of 22.46%. The organization also demonstrates solid fiscal responsibility, investing 82.74% of its expenses directly into programs, which reflects its dedication to fulfilling its mission.
While the organization shows many strengths in governance and financial management, no significant limitations were noted in the data. Overall, The Music Academy Nfp presents itself as a well-managed nonprofit, ensuring accountability and prioritizing its programmatic goals effectively.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about The Music Academy Nfp?
90% of 8 reviewers on Facebook recommend The Music Academy Nfp. Here is a summary of their reviews:
Participants appreciate the inclusive nature of the classes, which cater to a wide age range, from infants to seniors, making it accessible to everyone. The staff is consistently praised for being professional and encouraging, which enhances the overall experience for attendees. Many feel welcomed and supported, contributing to a positive atmosphere throughout the academy.
Overall, the feedback highlights a strong sense of community and commitment to fostering musical growth at all levels, indicating that the nonprofit successfully fulfills its mission to engage people of every age in music education.
This AI summary has been generated from reviews found on Facebook.
Is The Music Academy Nfp legitimate?
The Music Academy Nfp is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Music Academy Nfp 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: $63,085
Professional Fundraising Fees: $0
Other Salaries and Wages: $322,594
For more financial information, click here
Official website here: www.musicacademyinrockford.com
What is the mission statement of The Music Academy Nfp?
The Music Academy Nfp, established in 1985, is committed to inspiring a lifelong love of music and the arts in its students. The academy welcomes learners of all ages, from prenatal to those in their 70s and 80s, recognizing them as lifelong learners. As an Illinois not-for-profit community school of music, The Music Academy provides high-quality, affordable instruction and performance opportunities to its students, ensuring access regardless of their age or ability. The academy's mission is centered around nurturing a passion for music and the arts, fostering a love that spans an individual's entire life.
Official website here: www.musicacademyinrockford.com
What is the revenue of The Music Academy Nfp?
The Music Academy Nfp's revenue in 2024 was $487,383.
Official website here: www.musicacademyinrockford.com
Who are the executives of The Music Academy Nfp and what are their salaries?
The average compensation at The Music Academy Nfp during 2024 was $11,687. There are 33 employees and 20 volunteers at The Music Academy Nfp.
Here are 7 key members and their salaries:
- Compensation: $64,473
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- Other: $0
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- Other: $0
Official website here: www.musicacademyinrockford.com
Where can I find the form 990 for The Music Academy Nfp?
The Music Academy Nfp's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.musicacademyinrockford.com
Learn more at the official website: www.musicacademyinrockford.com
Mission Statement of The Music Academy Nfp
The Music Academy NFP, established in 1985, is dedicated to instilling a lifelong passion for music and the arts in its students. This not-for-profit organization caters to learners of all ages, from those in the prenatal stage to individuals in their 70s and 80s. The Academy's mission is multifaceted, aiming to foster a community of lifelong learners who value music and the arts. It provides high-quality, affordable instruction and performance opportunities, ensuring that these opportunities are accessible to all its students, regardless of their age or abilities. The Academy's ultimate goal is to inspire a love for music that lasts a lifetime.
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Impact
July, 2024
The Music Academy Nfp impacts individuals of all ages by inspiring a lifelong love of music and the arts. Founded in 1985, this nonprofit community school of music in Rockford, IL, is dedicated to providing high-quality and affordable instruction and performance opportunities to its students, regardless of age or ability. Through their mission, they engage students from prenatal to those in their 70s and 80s, fostering a culture of learning and appreciation for the arts.
This information is meant to be a general summary of The Music Academy Nfp. 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 2024.
- Program Service Revenue: $411,957
- Gross Receipts: $496,538
Assets and Liabilities:
- Total Assets: $164,251
- Total Liabilities: $36,893
- Net Assets: $127,358
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITION AND FEES
Revenue
$406,028
PROGRAMS AND WORKSHOPS
Revenue
$5,929
Organization Details
Founding Year
2011
Principal Officer
Laura Eakman
NTEE Category
Code: A68 - Arts
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