Brooklyn Academy Of Music Inc
Brooklyn Academy Of Music Inc shows stable assets but faces occasional operating deficits.
EIN: 112201344 · Brooklyn, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $49.1M |
| Total Expenses | $51.9M |
| Program Spending | 70% |
| CEO/Top Officer Pay | $50 |
| Net Assets | $138.6M |
| Transparency Score | 75/100 |
Is Brooklyn Academy 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 →
Brooklyn Academy Of Music Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Brooklyn Academy Of Music Inc
Brooklyn Academy Of Music Inc (EIN: 112201344) is a nonprofit organization based in Brooklyn, NY. The organization reported total revenue of $49.1M and total assets of $146.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Brooklyn Academy Of Music Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Brooklyn Academy Of Music Inc is a large nonprofit that has been operating for 57 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $46.6M |
| Total Expenses | $51.9M |
| Surplus / Deficit | $-5,276,793 |
| Total Assets | $151.0M |
| Total Liabilities | $12.4M |
| Net Assets | $138.6M |
| Operating Margin | -11.3% |
| Debt-to-Asset Ratio | 8.2% |
| Months of Reserves | 34.9 months |
Financial Health Grade: B
In 2023, Brooklyn Academy Of Music Inc reported a deficit of $5.3M with expenses exceeding revenue, holds 34.9 months of operating reserves (strong position), has a debt-to-asset ratio of 8.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Brooklyn Academy Of Music Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.0% | +15.6% | -3.8% |
| 2022 | +59.1% | +76.4% | -6.6% |
| 2021 | -43.2% | -38.9% | +14.3% |
| 2020 | -2.5% | -17.7% | -5.9% |
| 2019 | -5.0% | -2.3% | +11.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1969 |
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 Brooklyn Academy Of Music Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Brooklyn Academy Of Music Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $5.3M, with expenses exceeding revenue.
- Debt-to-asset ratio: 8.2%.
Executive Compensation Analysis
The provided data consistently reports 0% for officer compensation, which is highly unusual for an organization of this size with annual revenues often exceeding $50 million. This lack of reported officer compensation makes it impossible to assess executive pay relative to the organization's scale and could be a transparency concern if not further detailed in public filings.
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 Brooklyn Academy Of Music Inc's IRS 990 filings:
- 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
The following positive indicators were identified for Brooklyn Academy Of Music Inc:
- 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.
Frequently Asked Questions about Brooklyn Academy Of Music Inc
Is Brooklyn Academy Of Music Inc a legitimate charity?
Brooklyn Academy Of Music Inc (EIN: 112201344) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $49.1M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Brooklyn Academy Of Music Inc spend its money?
Brooklyn Academy Of Music Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Brooklyn Academy Of Music Inc tax-deductible?
Brooklyn Academy Of Music Inc is registered as a tax-exempt nonprofit (EIN: 112201344). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Brooklyn Academy Of Music Inc CEO make?
Brooklyn Academy Of Music Inc's highest-compensated officer earns $50 annually. The organization reported $49.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Brooklyn Academy Of Music Inc's spending goes to programs?
Brooklyn Academy Of Music Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Brooklyn Academy Of Music Inc located?
Brooklyn Academy Of Music Inc is headquartered in Brooklyn, New York and files with the IRS under EIN 112201344.
How many years of IRS 990 filings does Brooklyn Academy Of Music Inc have?
Brooklyn Academy 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 $49.1M in total revenue.
How does Brooklyn Academy Of Music Inc manage its operating deficits, such as the $5.2 million deficit in 2023?
The organization likely covers operating deficits through its substantial asset base or draws from reserves. Further analysis of their financial statements would be needed to understand specific strategies for deficit management.
Why is officer compensation consistently reported as 0% across all filings?
This could be due to various reasons, such as compensation being reported under different expense categories (e.g., salaries and wages for all staff), or the specific data point provided being incomplete. It warrants further investigation into the full IRS 990 forms for clarity.
What caused the significant expense spike in 2014, where expenses were over double the revenue?
The 2014 filing shows expenses of $103,905,249 against revenue of $49,660,937. This substantial increase in expenses, potentially due to a major capital project, expansion, or one-time event, would require reviewing the detailed financial statements for that period to understand the specific drivers.
Filing History
IRS 990 filing history for Brooklyn Academy Of Music Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Brooklyn Academy Of Music Inc's revenue has declined by 7.2%, moving from $50.2M to $46.6M. Total assets increased by 4.1% over the same period, from $145.1M to $151.0M. Total functional expenses rose by 36.6%, from $38.0M to $51.9M. In its most recent filing year (2023), Brooklyn Academy Of Music Inc reported a deficit of $5.3M, with expenses exceeding revenue. The organization holds $12.4M in liabilities against $151.0M in assets (debt-to-asset ratio: 8.2%), resulting in net assets of $138.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $46.6M | $51.9M | $151.0M | $12.4M | — | View 990 |
| 2022 | $47.0M | $44.9M | $157.0M | $11.5M | — | View 990 |
| 2021 | $29.6M | $25.4M | $168.0M | $11.2M | — | View 990 |
| 2020 | $52.1M | $41.7M | $147.0M | $8.5M | — | View 990 |
| 2019 | $53.4M | $50.6M | $156.3M | $19.7M | — | View 990 |
| 2018 | $56.1M | $51.8M | $140.3M | $7.6M | — | View 990 |
| 2017 | $52.6M | $51.6M | $130.3M | $5.9M | — | View 990 |
| 2016 | $54.8M | $58.8M | $129.2M | $10.0M | — | View 990 |
| 2015 | $58.8M | $59.0M | $138.0M | $6.9M | — | View 990 |
| 2014 | $49.7M | $103.9M | $136.6M | $5.9M | — | View 990 |
| 2013 | $57.7M | $51.1M | $183.4M | $7.3M | — | View 990 |
| 2012 | $75.3M | $52.1M | $167.4M | $9.5M | — | View 990 |
| 2011 | $50.2M | $38.0M | $145.1M | $8.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $46.6M, expenses of $51.9M, and assets of $151.0M (revenue -1.0% year-over-year).
- 2022: Revenue of $47.0M, expenses of $44.9M, and assets of $157.0M (revenue +59.1% year-over-year).
- 2021: Revenue of $29.6M, expenses of $25.4M, and assets of $168.0M (revenue -43.2% year-over-year).
- 2020: Revenue of $52.1M, expenses of $41.7M, and assets of $147.0M (revenue -2.5% year-over-year).
- 2019: Revenue of $53.4M, expenses of $50.6M, and assets of $156.3M (revenue -5.0% year-over-year).
- 2018: Revenue of $56.1M, expenses of $51.8M, and assets of $140.3M (revenue +6.8% year-over-year).
- 2017: Revenue of $52.6M, expenses of $51.6M, and assets of $130.3M (revenue -4.1% year-over-year).
- 2016: Revenue of $54.8M, expenses of $58.8M, and assets of $129.2M (revenue -6.8% year-over-year).
- 2015: Revenue of $58.8M, expenses of $59.0M, and assets of $138.0M (revenue +18.4% year-over-year).
- 2014: Revenue of $49.7M, expenses of $103.9M, and assets of $136.6M (revenue -13.9% year-over-year).
- 2013: Revenue of $57.7M, expenses of $51.1M, and assets of $183.4M (revenue -23.3% year-over-year).
- 2012: Revenue of $75.3M, expenses of $52.1M, and assets of $167.4M (revenue +49.9% year-over-year).
- 2011: Revenue of $50.2M, expenses of $38.0M, and assets of $145.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Brooklyn Academy Of Music Inc:
Data Sources and Methodology
This transparency report for Brooklyn Academy 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.