Society Of The Third Street Music School Settlement Inc
Third Street Music School consistently generates surpluses and grows assets with zero reported officer compensation.
EIN: 135596825 · New York, NY · NTEE: A6E0 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.2M |
| Total Expenses | $10.4M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $10 |
| Net Assets | $19.8M |
| Transparency Score | 95/100 |
Is Society Of The Third Street Music School Settlement Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Society Of The Third Street Music School Settlement Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Society Of The Third Street Music School Settlement Inc
Society Of The Third Street Music School Settlement Inc (EIN: 135596825) is a nonprofit organization based in New York, NY, classified under NTEE code A6E0. The organization reported total revenue of $10.2M and total assets of $24.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Society Of The Third Street Music School Settlement Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Society Of The Third Street Music School Settlement Inc is a large nonprofit that has been operating for 84 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $12.2M |
| Total Expenses | $10.4M |
| Surplus / Deficit | +$1.8M |
| Total Assets | $23.6M |
| Total Liabilities | $3.8M |
| Net Assets | $19.8M |
| Operating Margin | 14.8% |
| Debt-to-Asset Ratio | 16.3% |
| Months of Reserves | 27.3 months |
Financial Health Grade: A
In 2023, Society Of The Third Street Music School Settlement Inc reported a surplus of $1.8M with revenue exceeding expenses, holds 27.3 months of operating reserves (strong position), has a debt-to-asset ratio of 16.3% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Society Of The Third Street Music School Settlement Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +10.9% | +0.9% | +17.3% |
| 2022 | +17.8% | +13.9% | -14.4% |
| 2021 | +1.1% | -8.6% | +14.5% |
| 2020 | -0.9% | +7.7% | -4.5% |
| 2019 | -2.0% | +11.3% | +1.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1942 |
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 Society Of The Third Street Music School Settlement Inc with a Mission Score of 95 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Society Of The Third Street Music School Settlement Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% 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 $1.8M, with revenue exceeding expenses.
- Debt-to-asset ratio: 16.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization with over $10 million in annual revenue and $23 million in assets. This suggests either a fully volunteer executive leadership or that compensation is reported under other expense categories, warranting further investigation for complete transparency.
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 Society Of The Third Street Music School Settlement Inc's IRS 990 filings:
- Unusually low (0%) reported officer compensation, which may obscure actual executive remuneration if reported elsewhere.
Strengths
The following positive indicators were identified for Society Of The Third Street Music School Settlement Inc:
- Consistent revenue surpluses, indicating strong financial management (e.g., $1,802,406 surplus in 2023).
- Significant and consistent asset growth over the past decade (from $14.3M in 2014 to $23.6M in 2023).
- Healthy liability-to-asset ratio, demonstrating financial stability.
- Strong program focus implied by consistent surpluses and asset growth, suggesting efficient use of funds for mission-related activities.
Frequently Asked Questions about Society Of The Third Street Music School Settlement Inc
Is Society Of The Third Street Music School Settlement Inc a legitimate charity?
Society Of The Third Street Music School Settlement Inc (EIN: 135596825) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 95/100. It has 13 years of IRS 990 filings on record. Total revenue: $10.2M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Society Of The Third Street Music School Settlement Inc spend its money?
Society Of The Third Street Music School Settlement Inc directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Society Of The Third Street Music School Settlement Inc tax-deductible?
Society Of The Third Street Music School Settlement Inc is registered as a tax-exempt nonprofit (EIN: 135596825). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Society Of The Third Street Music School Settlement Inc CEO make?
Society Of The Third Street Music School Settlement Inc's highest-compensated officer earns $10 annually. The organization reported $10.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Society Of The Third Street Music School Settlement Inc's spending goes to programs?
Society Of The Third Street Music School Settlement Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Society Of The Third Street Music School Settlement Inc compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Society Of The Third Street Music School Settlement 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 Society Of The Third Street Music School Settlement Inc located?
Society Of The Third Street Music School Settlement Inc is headquartered in New York, New York and files with the IRS under EIN 135596825. It is classified under NTEE code A6E0.
How many years of IRS 990 filings does Society Of The Third Street Music School Settlement Inc have?
Society Of The Third Street Music School Settlement 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 $10.2M in total revenue.
Is Society Of The Third Street Music School Settlement Inc a good charity?
Based on the provided financial data, the organization appears to be a very good charity. It consistently generates surpluses, grows its assets, and reports 0% officer compensation, indicating strong financial health and a high dedication to its mission.
How does the organization manage to report 0% officer compensation?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this size. It could imply that executive leadership is entirely volunteer-based, or that compensation is categorized differently within the expense reports (e.g., as program or administrative staff salaries rather than 'officer compensation'). Further detail from the full 990 filing would be needed to clarify this.
What is the trend in the organization's assets and liabilities?
The organization's assets have shown a strong upward trend, growing from $14,387,222 in 2014 to $23,622,768 in 2023. Liabilities have also increased but at a slower rate, maintaining a healthy ratio to assets (e.g., $3,847,663 liabilities against $23,622,768 assets in 2023), indicating good financial stewardship.
Filing History
IRS 990 filing history for Society Of The Third Street Music School Settlement Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Society Of The Third Street Music School Settlement Inc's revenue has grown by 109.8%, moving from $5.8M to $12.2M. Total assets increased by 84.6% over the same period, from $12.8M to $23.6M. Total functional expenses rose by 79.3%, from $5.8M to $10.4M. In its most recent filing year (2023), Society Of The Third Street Music School Settlement Inc reported a surplus of $1.8M, with revenue exceeding expenses. The organization holds $3.8M in liabilities against $23.6M in assets (debt-to-asset ratio: 16.3%), resulting in net assets of $19.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $12.2M | $10.4M | $23.6M | $3.8M | — | View 990 |
| 2022 | $11.0M | $10.3M | $20.1M | $3.1M | — | View 990 |
| 2021 | $9.3M | $9.0M | $23.5M | $4.5M | — | View 990 |
| 2020 | $9.2M | $9.9M | $20.5M | $3.6M | — | View 990 |
| 2019 | $9.3M | $9.2M | $21.5M | $3.8M | — | View 990 |
| 2018 | $9.5M | $8.3M | $21.1M | $3.2M | — | View 990 |
| 2017 | $7.5M | $7.9M | $19.0M | $2.7M | — | View 990 |
| 2016 | $7.4M | $7.1M | $18.7M | $2.5M | — | View 990 |
| 2015 | $11.1M | $6.5M | $19.6M | $3.3M | — | View 990 |
| 2014 | $6.7M | $6.4M | $14.4M | $2.0M | — | View 990 |
| 2013 | $6.9M | $6.3M | $12.7M | $1.8M | — | View 990 |
| 2012 | $7.0M | $6.1M | $12.2M | $1.9M | — | View 990 |
| 2011 | $5.8M | $5.8M | $12.8M | $2.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $12.2M, expenses of $10.4M, and assets of $23.6M (revenue +10.9% year-over-year).
- 2022: Revenue of $11.0M, expenses of $10.3M, and assets of $20.1M (revenue +17.8% year-over-year).
- 2021: Revenue of $9.3M, expenses of $9.0M, and assets of $23.5M (revenue +1.1% year-over-year).
- 2020: Revenue of $9.2M, expenses of $9.9M, and assets of $20.5M (revenue -0.9% year-over-year).
- 2019: Revenue of $9.3M, expenses of $9.2M, and assets of $21.5M (revenue -2.0% year-over-year).
- 2018: Revenue of $9.5M, expenses of $8.3M, and assets of $21.1M (revenue +26.7% year-over-year).
- 2017: Revenue of $7.5M, expenses of $7.9M, and assets of $19.0M (revenue +1.6% year-over-year).
- 2016: Revenue of $7.4M, expenses of $7.1M, and assets of $18.7M (revenue -33.6% year-over-year).
- 2015: Revenue of $11.1M, expenses of $6.5M, and assets of $19.6M (revenue +66.0% year-over-year).
- 2014: Revenue of $6.7M, expenses of $6.4M, and assets of $14.4M (revenue -2.8% year-over-year).
- 2013: Revenue of $6.9M, expenses of $6.3M, and assets of $12.7M (revenue -2.0% year-over-year).
- 2012: Revenue of $7.0M, expenses of $6.1M, and assets of $12.2M (revenue +21.0% year-over-year).
- 2011: Revenue of $5.8M, expenses of $5.8M, and assets of $12.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Society Of The Third Street Music School Settlement Inc:
Data Sources and Methodology
This transparency report for Society Of The Third Street Music School Settlement 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.