Bloomingdale School Of Music Inc
Bloomingdale School Of Music consistently grows revenue and assets with 0% officer compensation.
EIN: 132562192 · New York, NY · NTEE: A6E0 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.0M |
| Total Expenses | $2.9M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $3 |
| Net Assets | $2.4M |
| Transparency Score | 90/100 |
Is Bloomingdale School Of Music Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bloomingdale School Of Music Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bloomingdale School Of Music Inc
Bloomingdale School Of Music Inc (EIN: 132562192) is a nonprofit organization based in New York, NY, classified under NTEE code A6E0. The organization reported total revenue of $3.0M and total assets of $2.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bloomingdale School Of Music Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bloomingdale School Of Music Inc is a mid-size nonprofit that has been operating for 60 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.2M |
| Total Expenses | $2.9M |
| Surplus / Deficit | +$334K |
| Total Assets | $2.7M |
| Total Liabilities | $371K |
| Net Assets | $2.4M |
| Operating Margin | 10.4% |
| Debt-to-Asset Ratio | 13.5% |
| Months of Reserves | 11.4 months |
Financial Health Grade: A
In 2023, Bloomingdale School Of Music Inc reported a surplus of $334K with revenue exceeding expenses, holds 11.4 months of operating reserves (strong position), has a debt-to-asset ratio of 13.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Bloomingdale School Of Music Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.1% | +18.6% | +18.7% |
| 2022 | +26.4% | +15.2% | +16.1% |
| 2021 | -3.9% | -12.1% | +20.8% |
| 2020 | +2.0% | +5.4% | +24.2% |
| 2019 | +11.3% | +4.3% | +13.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1966 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Bloomingdale School Of Music Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Bloomingdale School Of Music Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $334K, with revenue exceeding expenses.
- Debt-to-asset ratio: 13.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization of its size with over $3 million in annual revenue.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Bloomingdale School Of Music Inc's IRS 990 filings:
- Unusually low (0%) reported officer compensation, which might indicate compensation is reported under other expense categories or through related entities, warranting further investigation for full transparency.
Strengths
The following positive indicators were identified for Bloomingdale School Of Music Inc:
- Consistent revenue growth, increasing from $1.46M in 2014 to $3.22M in 2023.
- Significant asset growth, nearly tripling from $930,931 in 2014 to $2,748,255 in 2023.
- Positive net income in most recent years (e.g., $334,312 surplus in 2023).
- Remarkable 0% officer compensation reported across all filings, indicating high dedication of funds to mission.
- Manageable liabilities relative to assets, suggesting good financial stewardship.
Frequently Asked Questions about Bloomingdale School Of Music Inc
Is Bloomingdale School Of Music Inc a legitimate charity?
Bloomingdale School Of Music Inc (EIN: 132562192) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $3.0M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Bloomingdale School Of Music Inc spend its money?
Bloomingdale School Of Music Inc directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Bloomingdale School Of Music Inc tax-deductible?
Bloomingdale School Of Music Inc is registered as a tax-exempt nonprofit (EIN: 132562192). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Bloomingdale School Of Music Inc CEO make?
Bloomingdale School Of Music Inc's highest-compensated officer earns $3 annually. The organization reported $3.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Bloomingdale School Of Music Inc's spending goes to programs?
Bloomingdale School Of Music Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Bloomingdale School Of Music Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Bloomingdale School Of Music Inc is above average for NTEE category A6E0 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Bloomingdale School Of Music Inc located?
Bloomingdale School Of Music Inc is headquartered in New York, New York and files with the IRS under EIN 132562192. It is classified under NTEE code A6E0.
How many years of IRS 990 filings does Bloomingdale School Of Music Inc have?
Bloomingdale School Of Music Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $3.0M in total revenue.
Is Bloomingdale School Of Music Inc a good charity?
Based on the provided IRS 990 data, Bloomingdale School Of Music Inc appears to be a very good charity. It demonstrates consistent revenue growth, strong asset accumulation, and a remarkable 0% officer compensation, suggesting a high dedication to its mission.
How has the organization's financial health changed over the last decade?
The organization's financial health has significantly improved over the last decade. Revenue more than doubled from $1,460,920 in 2014 to $3,222,647 in 2023, and assets nearly tripled from $930,931 to $2,748,255 in the same period.
What is the trend in the organization's net assets?
The organization's net assets have shown a strong upward trend, increasing from approximately $687,633 (Assets - Liabilities) in 2014 to $2,376,979 in 2023, indicating healthy financial growth and accumulation of reserves.
Filing History
IRS 990 filing history for Bloomingdale School Of Music Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Bloomingdale School Of Music Inc's revenue has grown by 117.6%, moving from $1.5M to $3.2M. Total assets increased by 162.8% over the same period, from $1.0M to $2.7M. Total functional expenses rose by 83.7%, from $1.6M to $2.9M. In its most recent filing year (2023), Bloomingdale School Of Music Inc reported a surplus of $334K, with revenue exceeding expenses. The organization holds $371K in liabilities against $2.7M in assets (debt-to-asset ratio: 13.5%), resulting in net assets of $2.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.2M | $2.9M | $2.7M | $371K | — | View 990 |
| 2022 | $3.0M | $2.4M | $2.3M | $297K | — | View 990 |
| 2021 | $2.4M | $2.1M | $2.0M | $417K | — | View 990 |
| 2020 | $2.5M | $2.4M | $1.7M | $437K | — | View 990 |
| 2019 | $2.4M | $2.3M | $1.3M | $291K | — | View 990 |
| 2018 | $2.2M | $2.2M | $1.2M | $290K | — | View 990 |
| 2017 | $2.1M | $2.1M | $1.2M | $347K | — | View 990 |
| 2016 | $2.1M | $2.0M | $1.2M | $331K | — | View 990 |
| 2015 | $1.6M | $1.6M | $1.1M | $294K | — | View 990 |
| 2014 | $1.5M | $1.5M | $931K | $243K | — | View 990 |
| 2013 | $1.5M | $1.5M | $936K | $253K | — | View 990 |
| 2012 | $1.4M | $1.6M | $927K | $241K | — | View 990 |
| 2011 | $1.5M | $1.6M | $1.0M | $176K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.2M, expenses of $2.9M, and assets of $2.7M (revenue +7.1% year-over-year).
- 2022: Revenue of $3.0M, expenses of $2.4M, and assets of $2.3M (revenue +26.4% year-over-year).
- 2021: Revenue of $2.4M, expenses of $2.1M, and assets of $2.0M (revenue -3.9% year-over-year).
- 2020: Revenue of $2.5M, expenses of $2.4M, and assets of $1.7M (revenue +2.0% year-over-year).
- 2019: Revenue of $2.4M, expenses of $2.3M, and assets of $1.3M (revenue +11.3% year-over-year).
- 2018: Revenue of $2.2M, expenses of $2.2M, and assets of $1.2M (revenue +5.7% year-over-year).
- 2017: Revenue of $2.1M, expenses of $2.1M, and assets of $1.2M (revenue +0.2% year-over-year).
- 2016: Revenue of $2.1M, expenses of $2.0M, and assets of $1.2M (revenue +26.7% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.6M, and assets of $1.1M (revenue +11.3% year-over-year).
- 2014: Revenue of $1.5M, expenses of $1.5M, and assets of $931K (revenue -3.2% year-over-year).
- 2013: Revenue of $1.5M, expenses of $1.5M, and assets of $936K (revenue +10.1% year-over-year).
- 2012: Revenue of $1.4M, expenses of $1.6M, and assets of $927K (revenue -7.4% year-over-year).
- 2011: Revenue of $1.5M, expenses of $1.6M, and assets of $1.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bloomingdale School Of Music Inc:
Data Sources and Methodology
This transparency report for Bloomingdale School Of Music Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.