Quick charity verification for Brooklyn Academy Of Music Inc (EIN: 112201344)
Verdict: Brooklyn Academy Of Music Inc appears trustworthy
75/100Mission Score
$49.1MRevenue
$146.4MAssets
3Red Flags
3Strengths
Red Flags
Consistent reporting of 0% officer compensation, which is unusual for an organization of this size and may indicate a lack of transparency in executive pay disclosure.
Significant operating deficit in 2023 ($5.2 million) where expenses exceeded revenue, indicating potential financial strain.
Major expense spike in 2014 where expenses were more than double the revenue, suggesting a potentially unsustainable spending event without clear explanation.
Strengths
Strong asset base, consistently over $140 million in recent years, providing financial stability and resilience.
Generally stable revenue streams, often exceeding $45 million annually, indicating consistent donor and audience support.
Healthy asset-to-liability ratio, with assets significantly outweighing liabilities (e.g., $151M assets vs. $12M liabilities in 2023), demonstrating good solvency.
Spending Breakdown
How Brooklyn Academy Of Music Inc allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
Admin Costs
Reasonable — admin costs in check
10%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Brooklyn Academy Of Music Inc
Is Brooklyn Academy Of Music Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Brooklyn Academy Of Music Inc (EIN: 112201344) appears trustworthy. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
Is Brooklyn Academy Of Music Inc a good charity to donate to?
Brooklyn Academy Of Music Inc has a Mission Score of 75/100. Revenue: $49.1M. Assets: $146.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Brooklyn Academy Of Music Inc?
The Employer Identification Number (EIN) for Brooklyn Academy Of Music Inc is 112201344. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Brooklyn Academy Of Music Inc spend its money?
Brooklyn Academy Of Music Inc allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Brooklyn Academy Of Music Inc's tax-exempt status?
You can verify Brooklyn Academy Of Music Inc's tax-exempt status using EIN 112201344 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Brooklyn Academy Of Music Inc (BAM) demonstrates a generally stable financial position with assets consistently exceeding liabilities, indicating good solvency. For instance, in 2023, assets were $151,026,443 against liabilities of $12,391,254. However, the organization has experienced periods of operating deficits, such as in 2023 where expenses ($51,862,473) exceeded revenue ($46,585,680), and notably in 2014 where expenses ($103,905,249) significantly outstripped revenue ($49,660,937). This suggests a need for careful management of operational costs relative to income streams. The consistent reporting of 0% for officer compensation across all available filings is unusual and may indicate that executive compensation is reported under other expense categories or that the specific field in the provided data is incomplete, which could impact transparency assessment if not clarified.