Music Academy Of North Carolina Inc
EIN: 581583883 · Greensboro, NC · NTEE: A6E0
| Metric | Value |
|---|---|
| Total Revenue | $1.9M |
| Total Expenses | $806K |
| Net Assets | $1.9M |
Is Music Academy Of North Carolina Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Music Academy Of North Carolina Inc
Music Academy Of North Carolina Inc (EIN: 581583883) is a nonprofit organization based in Greensboro, NC, classified under NTEE code A6E0. The organization reported total revenue of $1.9M and total assets of $2.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Music Academy Of North Carolina Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Music Academy Of North Carolina Inc is a mid-size nonprofit that has been operating for 42 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 7.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.9M |
| Total Expenses | $806K |
| Surplus / Deficit | +$1.1M |
| Total Assets | $2.0M |
| Total Liabilities | $96K |
| Net Assets | $1.9M |
| Operating Margin | 57.2% |
| Debt-to-Asset Ratio | 4.9% |
| Months of Reserves | 29.3 months |
Financial Health Grade: A
In 2024, Music Academy Of North Carolina Inc reported a surplus of $1.1M with revenue exceeding expenses, holds 29.3 months of operating reserves (strong position), has a debt-to-asset ratio of 4.9% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2024), Music Academy Of North Carolina Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +81.8% | +8.2% | +123.6% |
| 2023 | +62.5% | +9.4% | +51.2% |
| 2022 | -16.0% | +4.3% | -7.2% |
| 2021 | +14.0% | -3.8% | +12.0% |
| 2020 | +6.0% | +2.9% | -3.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Music Academy Of North Carolina Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Music Academy Of North Carolina Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.1M, with revenue exceeding expenses.
- Debt-to-asset ratio: 4.9%.
Frequently Asked Questions about Music Academy Of North Carolina Inc
Is Music Academy Of North Carolina Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Music Academy Of North Carolina Inc (EIN: 581583883) insufficient data. 0 red flags identified, 0 strengths noted.
How does Music Academy Of North Carolina Inc spend its money?
Detailed spending breakdown data is not yet available for Music Academy Of North Carolina Inc. Check back for updated IRS 990 analysis.
Are donations to Music Academy Of North Carolina Inc tax-deductible?
Music Academy Of North Carolina Inc is registered as a tax-exempt nonprofit (EIN: 581583883). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Music Academy Of North Carolina Inc located?
Music Academy Of North Carolina Inc is headquartered in Greensboro, North Carolina and files with the IRS under EIN 581583883. It is classified under NTEE code A6E0.
How many years of IRS 990 filings does Music Academy Of North Carolina Inc have?
Music Academy Of North Carolina 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 $1.9M in total revenue.
Filing History
IRS 990 filing history for Music Academy Of North Carolina Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Music Academy Of North Carolina Inc's revenue has grown by 142.4%, moving from $778K to $1.9M. Total assets increased by 236.3% over the same period, from $586K to $2.0M. Total functional expenses fell by 5.5%, from $853K to $806K. In its most recent filing year (2024), Music Academy Of North Carolina Inc reported a surplus of $1.1M, with revenue exceeding expenses. The organization holds $96K in liabilities against $2.0M in assets (debt-to-asset ratio: 4.9%), resulting in net assets of $1.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.9M | $806K | $2.0M | $96K | — | — |
| 2023 | $1.0M | $745K | $881K | $86K | — | View 990 |
| 2022 | $638K | $681K | $582K | $80K | — | View 990 |
| 2021 | $760K | $653K | $627K | $82K | — | View 990 |
| 2020 | $667K | $679K | $560K | $121K | — | View 990 |
| 2019 | $629K | $660K | $583K | $129K | — | View 990 |
| 2018 | $743K | $708K | $596K | $111K | — | View 990 |
| 2017 | $889K | $867K | $598K | $148K | — | View 990 |
| 2016 | $919K | $916K | $624K | $196K | — | View 990 |
| 2015 | $920K | $965K | $642K | $217K | — | View 990 |
| 2014 | $960K | $939K | $692K | $222K | — | View 990 |
| 2013 | $916K | $952K | $650K | $200K | — | View 990 |
| 2012 | $778K | $853K | $586K | $99K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $1.9M, expenses of $806K, and assets of $2.0M (revenue +81.8% year-over-year).
- 2023: Revenue of $1.0M, expenses of $745K, and assets of $881K (revenue +62.5% year-over-year).
- 2022: Revenue of $638K, expenses of $681K, and assets of $582K (revenue -16.0% year-over-year).
- 2021: Revenue of $760K, expenses of $653K, and assets of $627K (revenue +14.0% year-over-year).
- 2020: Revenue of $667K, expenses of $679K, and assets of $560K (revenue +6.0% year-over-year).
- 2019: Revenue of $629K, expenses of $660K, and assets of $583K (revenue -15.4% year-over-year).
- 2018: Revenue of $743K, expenses of $708K, and assets of $596K (revenue -16.3% year-over-year).
- 2017: Revenue of $889K, expenses of $867K, and assets of $598K (revenue -3.3% year-over-year).
- 2016: Revenue of $919K, expenses of $916K, and assets of $624K (revenue -0.2% year-over-year).
- 2015: Revenue of $920K, expenses of $965K, and assets of $642K (revenue -4.1% year-over-year).
- 2014: Revenue of $960K, expenses of $939K, and assets of $692K (revenue +4.8% year-over-year).
- 2013: Revenue of $916K, expenses of $952K, and assets of $650K (revenue +17.7% year-over-year).
- 2012: Revenue of $778K, expenses of $853K, and assets of $586K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Music Academy Of North Carolina Inc:
Data Sources and Methodology
This transparency report for Music Academy Of North Carolina 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.