The Academy Of Music
EIN: 541764269 · Norfolk, VA · NTEE: B90Z
| Metric | Value |
|---|---|
| Total Revenue | $778K |
| Total Expenses | $650K |
| Net Assets | $2.1M |
Is The Academy Of Music Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About The Academy Of Music
The Academy Of Music (EIN: 541764269) is a nonprofit organization based in Norfolk, VA, classified under NTEE code B90Z. The organization reported total revenue of $778K and total assets of $2.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Academy Of Music's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Academy Of Music is a small nonprofit that has been operating for 30 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 3.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $778K |
| Total Expenses | $650K |
| Surplus / Deficit | +$128K |
| Total Assets | $2.1M |
| Total Liabilities | $2K |
| Net Assets | $2.1M |
| Operating Margin | 16.5% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 38.3 months |
Financial Health Grade: A
In 2024, The Academy Of Music reported a surplus of $128K with revenue exceeding expenses, holds 38.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), The Academy Of Music's revenue has grown at a compound annual growth rate (CAGR) of 3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +15.6% | -1.7% | +13.7% |
| 2023 | +5.3% | +3.1% | +1.0% |
| 2022 | -1.6% | +9.7% | -1.4% |
| 2021 | +4.6% | +3.8% | +32.4% |
| 2020 | -11.5% | -5.5% | +6.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1996 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for The Academy Of Music 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 The Academy Of Music 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 $128K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.1%.
Frequently Asked Questions about The Academy Of Music
Is The Academy Of Music a legitimate charity?
Based on AI analysis of IRS 990 filings, The Academy Of Music (EIN: 541764269) insufficient data. 0 red flags identified, 0 strengths noted.
How does The Academy Of Music spend its money?
Detailed spending breakdown data is not yet available for The Academy Of Music. Check back for updated IRS 990 analysis.
Are donations to The Academy Of Music tax-deductible?
The Academy Of Music is registered as a tax-exempt nonprofit (EIN: 541764269). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is The Academy Of Music located?
The Academy Of Music is headquartered in Norfolk, Virginia and files with the IRS under EIN 541764269. It is classified under NTEE code B90Z.
How many years of IRS 990 filings does The Academy Of Music have?
The Academy Of Music has 14 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 $778K in total revenue.
Filing History
IRS 990 filing history for The Academy Of Music showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), The Academy Of Music's revenue has grown by 49%, moving from $522K to $778K. Total assets increased by 827.9% over the same period, from $223K to $2.1M. Total functional expenses rose by 45.2%, from $447K to $650K. In its most recent filing year (2024), The Academy Of Music reported a surplus of $128K, with revenue exceeding expenses. The organization holds $2K in liabilities against $2.1M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $2.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $778K | $650K | $2.1M | $2K | — | — |
| 2023 | $673K | $661K | $1.8M | $4K | — | View 990 |
| 2022 | $639K | $641K | $1.8M | $6K | — | View 990 |
| 2021 | $649K | $584K | $1.8M | $48K | — | View 990 |
| 2020 | $621K | $563K | $1.4M | $53K | — | View 990 |
| 2019 | $701K | $596K | $1.3M | $26K | — | View 990 |
| 2018 | $660K | $551K | $1.2M | $31K | — | View 990 |
| 2017 | $615K | $506K | $1.0M | $30K | — | View 990 |
| 2016 | $589K | $475K | $806K | $25K | — | View 990 |
| 2015 | $549K | $466K | $714K | $18K | — | View 990 |
| 2014 | $517K | $470K | $627K | $44K | — | View 990 |
| 2013 | $521K | $484K | $525K | $39K | — | View 990 |
| 2012 | $659K | $453K | $427K | $3K | — | View 990 |
| 2011 | $522K | $447K | $223K | $8K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $778K, expenses of $650K, and assets of $2.1M (revenue +15.6% year-over-year).
- 2023: Revenue of $673K, expenses of $661K, and assets of $1.8M (revenue +5.3% year-over-year).
- 2022: Revenue of $639K, expenses of $641K, and assets of $1.8M (revenue -1.6% year-over-year).
- 2021: Revenue of $649K, expenses of $584K, and assets of $1.8M (revenue +4.6% year-over-year).
- 2020: Revenue of $621K, expenses of $563K, and assets of $1.4M (revenue -11.5% year-over-year).
- 2019: Revenue of $701K, expenses of $596K, and assets of $1.3M (revenue +6.3% year-over-year).
- 2018: Revenue of $660K, expenses of $551K, and assets of $1.2M (revenue +7.2% year-over-year).
- 2017: Revenue of $615K, expenses of $506K, and assets of $1.0M (revenue +4.5% year-over-year).
- 2016: Revenue of $589K, expenses of $475K, and assets of $806K (revenue +7.3% year-over-year).
- 2015: Revenue of $549K, expenses of $466K, and assets of $714K (revenue +6.2% year-over-year).
- 2014: Revenue of $517K, expenses of $470K, and assets of $627K (revenue -0.8% year-over-year).
- 2013: Revenue of $521K, expenses of $484K, and assets of $525K (revenue -21.0% year-over-year).
- 2012: Revenue of $659K, expenses of $453K, and assets of $427K (revenue +26.3% year-over-year).
- 2011: Revenue of $522K, expenses of $447K, and assets of $223K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Academy Of Music:
Data Sources and Methodology
This transparency report for The Academy Of Music 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.