Musical Arts Institute
EIN: 300603029 · Chicago, IL · NTEE: A68
| Metric | Value |
|---|---|
| Total Revenue | $882K |
| Total Expenses | $975K |
| Net Assets | $59K |
Is Musical Arts Institute Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Musical Arts Institute
Musical Arts Institute (EIN: 300603029) is a nonprofit organization based in Chicago, IL, classified under NTEE code A68. The organization reported total revenue of $882K and total assets of $683K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Musical Arts Institute's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Musical Arts Institute is a small nonprofit that has been operating for 16 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 16.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $839K |
| Total Expenses | $975K |
| Surplus / Deficit | $-136,420 |
| Total Assets | $628K |
| Total Liabilities | $568K |
| Net Assets | $59K |
| Operating Margin | -16.3% |
| Debt-to-Asset Ratio | 90.5% |
| Months of Reserves | 7.7 months |
Financial Health Grade: C
In 2023, Musical Arts Institute reported a deficit of $136K with expenses exceeding revenue, holds 7.7 months of operating reserves (strong position), has a debt-to-asset ratio of 90.5% (high leverage).
Financial Trends
Over 10 years of filings (2011–2023), Musical Arts Institute's revenue has grown at a compound annual growth rate (CAGR) of 16.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.3% | +42.0% | -17.1% |
| 2022 | +56.9% | +39.9% | +271.2% |
| 2021 | +33.4% | +54.5% | +25.8% |
| 2020 | +73.2% | +27.3% | +231.8% |
| 2019 | +14.8% | +39.5% | +8.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2010 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Musical Arts Institute 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 Musical Arts Institute 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $136K, with expenses exceeding revenue.
- Debt-to-asset ratio: 90.5%.
Frequently Asked Questions about Musical Arts Institute
Is Musical Arts Institute a legitimate charity?
Musical Arts Institute (EIN: 300603029) is a registered tax-exempt nonprofit based in Illinois. It has 10 years of IRS 990 filings on record. Total revenue: $882K. No red flags identified. Financial health grade: C.
How does Musical Arts Institute spend its money?
Musical Arts Institute reported $882K in total revenue in IRS 990 filings. 10 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Musical Arts Institute tax-deductible?
Musical Arts Institute is registered as a tax-exempt nonprofit (EIN: 300603029). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Musical Arts Institute located?
Musical Arts Institute is headquartered in Chicago, Illinois and files with the IRS under EIN 300603029. It is classified under NTEE code A68.
How many years of IRS 990 filings does Musical Arts Institute have?
Musical Arts Institute has 10 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 $882K in total revenue.
Filing History
IRS 990 filing history for Musical Arts Institute showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Musical Arts Institute's revenue has grown by 553.6%, moving from $128K to $839K. Total assets increased by 1086.2% over the same period, from $53K to $628K. Total functional expenses rose by 1038%, from $86K to $975K. In its most recent filing year (2023), Musical Arts Institute reported a deficit of $136K, with expenses exceeding revenue. The organization holds $568K in liabilities against $628K in assets (debt-to-asset ratio: 90.5%), resulting in net assets of $59K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $839K | $975K | $628K | $568K | — | — |
| 2022 | $812K | $687K | $757K | $484K | — | — |
| 2021 | $518K | $491K | $204K | $72K | — | View 990 |
| 2020 | $388K | $318K | $162K | $102K | — | — |
| 2019 | $224K | $250K | $49K | $40K | — | View 990 |
| 2017 | $195K | $179K | $45K | $20K | — | — |
| 2014 | $112K | $111K | $28K | $20K | — | View 990 |
| 2013 | $108K | $121K | $31K | $20K | — | View 990 |
| 2012 | $106K | $114K | $44K | $20K | — | View 990 |
| 2011 | $128K | $86K | $53K | $20K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $839K, expenses of $975K, and assets of $628K (revenue +3.3% year-over-year).
- 2022: Revenue of $812K, expenses of $687K, and assets of $757K (revenue +56.9% year-over-year).
- 2021: Revenue of $518K, expenses of $491K, and assets of $204K (revenue +33.4% year-over-year).
- 2020: Revenue of $388K, expenses of $318K, and assets of $162K (revenue +73.2% year-over-year).
- 2019: Revenue of $224K, expenses of $250K, and assets of $49K (revenue +14.8% year-over-year).
- 2017: Revenue of $195K, expenses of $179K, and assets of $45K (revenue +74.6% year-over-year).
- 2014: Revenue of $112K, expenses of $111K, and assets of $28K (revenue +3.8% year-over-year).
- 2013: Revenue of $108K, expenses of $121K, and assets of $31K (revenue +1.9% year-over-year).
- 2012: Revenue of $106K, expenses of $114K, and assets of $44K (revenue -17.6% year-over-year).
- 2011: Revenue of $128K, expenses of $86K, and assets of $53K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Musical Arts Institute:
Data Sources and Methodology
This transparency report for Musical Arts Institute 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.