Side By Side Music Inc
EIN: 812234935 · Raleigh, NC · NTEE: P46
| Metric | Value |
|---|---|
| Total Revenue | $177K |
| Total Expenses | $172K |
| Net Assets | $90K |
Is Side By Side Music Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Side By Side Music Inc
Side By Side Music Inc (EIN: 812234935) is a nonprofit organization based in Raleigh, NC, classified under NTEE code P46. The organization reported total revenue of $177K and total assets of $102K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Side By Side Music Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Side By Side Music Inc is a small nonprofit that has been operating for 9 years, with 3 years of IRS 990 filings on record (2021–2023). Revenue has grown at a compound annual rate of 32.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $151K |
| Total Expenses | $172K |
| Surplus / Deficit | $-21,204 |
| Total Assets | $90K |
| Total Liabilities | $416 |
| Net Assets | $90K |
| Operating Margin | -14.0% |
| Debt-to-Asset Ratio | 0.5% |
| Months of Reserves | 6.3 months |
Financial Health Grade: B
In 2023, Side By Side Music Inc reported a deficit of $21K with expenses exceeding revenue, holds 6.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.5% (very low leverage).
Financial Trends
Over 3 years of filings (2021–2023), Side By Side Music Inc's revenue has grown at a compound annual growth rate (CAGR) of 32.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.0% | +47.5% | -19.6% |
| 2022 | +72.0% | +143.8% | +37.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 2017 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Side By Side Music 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 Side By Side Music 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $21K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.5%.
Frequently Asked Questions about Side By Side Music Inc
Is Side By Side Music Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Side By Side Music Inc (EIN: 812234935) insufficient data. 0 red flags identified, 0 strengths noted.
How does Side By Side Music Inc spend its money?
Detailed spending breakdown data is not yet available for Side By Side Music Inc. Check back for updated IRS 990 analysis.
Are donations to Side By Side Music Inc tax-deductible?
Side By Side Music Inc is registered as a tax-exempt nonprofit (EIN: 812234935). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Side By Side Music Inc located?
Side By Side Music Inc is headquartered in Raleigh, North Carolina and files with the IRS under EIN 812234935. It is classified under NTEE code P46.
How many years of IRS 990 filings does Side By Side Music Inc have?
Side By Side Music Inc has 3 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $177K in total revenue.
Filing History
IRS 990 filing history for Side By Side Music Inc showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2021–2023), Side By Side Music Inc's revenue has grown by 75.5%, moving from $86K to $151K. Total assets increased by 10.8% over the same period, from $81K to $90K. Total functional expenses rose by 259.7%, from $48K to $172K. In its most recent filing year (2023), Side By Side Music Inc reported a deficit of $21K, with expenses exceeding revenue. The organization holds $416 in liabilities against $90K in assets (debt-to-asset ratio: 0.5%), resulting in net assets of $90K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $151K | $172K | $90K | $416 | — | View 990 |
| 2022 | $148K | $117K | $112K | $1K | — | View 990 |
| 2021 | $86K | $48K | $81K | $2K | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $151K, expenses of $172K, and assets of $90K (revenue +2.0% year-over-year).
- 2022: Revenue of $148K, expenses of $117K, and assets of $112K (revenue +72.0% year-over-year).
- 2021: Revenue of $86K, expenses of $48K, and assets of $81K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Side By Side Music Inc:
Data Sources and Methodology
This transparency report for Side By Side 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.