Liabilities / Assets
51st percentile
Higher debt load relative to assets than 51% of similar nonprofits.
EIN 01-0739765 • 501(c)3 • Charleston, SC
Profile
The charleston academy of music is a non-profit organization whose mission is to empower students to become achievers by providing superior professional music instruction and performance opportunities.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
51st percentile
Higher debt load relative to assets than 51% of similar nonprofits.
Liabilities / Revenue
51st percentile
Higher debt load relative to revenue than 51% of similar nonprofits.
Net Margin
72nd percentile
Higher net margin than 72% of similar nonprofits.
Top Officer Pay
72nd percentile
Higher top officer pay than 72% of similar nonprofits.
Top officer pay equals 11.3% of source-year revenue.
Asset Growth
80th percentile
Faster asset growth than 80% of similar nonprofits.
Revenue Growth
47th percentile
Faster revenue growth than 47% of similar nonprofits.
Assets
Up$521,969
Up $106,699 (+26%) from 2023
Liabilities
Up$8,565
Up $2,793 (+48%) from 2023
Net Assets
Up$513,404
Up $103,906 (+25%) from 2023
Revenue
Up$538,873
Up $23,437 (+4.5%) from 2023
Expenses
Up$434,967
Up $33,031 (+8.2%) from 2023
Net Income
Down$103,906
Down $9,594 (-8.5%) from 2023
Most recent year
2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
The charleston academy of music is committed to providing access to exceptional music education, performance and community outreach to all, regardless of age, skill, gender, ethnicity or income.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $360,436 | $457,872 | ▲ $97,436 |
| Accounts Receivable | $37,967 | $48,008 | ▲ $10,041 |
| Cash and Non-Interest-Bearing Accounts | $8,638 | $11,460 | ▲ $2,822 |
| Land, Buildings, and Equipment, Net | $8,229 | $4,629 | ▼ $3,600 |
| Total Assets | $415,270 | $521,969 | ▲ $106,699 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $5,772 | $8,565 | ▲ $2,793 |
| Total Liabilities | $5,772 | $8,565 | ▲ $2,793 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $409,498 | $513,404 | ▲ $103,906 |
| Total Net Assets Fund Balance | $409,498 | $513,404 | ▲ $103,906 |
| Total Liabilities and Net Assets / Fund Balance | $415,270 | $521,969 | ▲ $106,699 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $4,629 | $13,371 | $18,000 |
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Dr Irina Pevzner | Executive Di | FT | $61,116 | $61,116 |
| Name | Title |
|---|---|
| Ed Meyer | Chairman |
| Maria Cordova | Board Member |
| Theresa Thomas | Board Member |
| Andrea Patrick | Secretary |
| Line Item | Amount |
|---|---|
| Other Expenses | $304,158 |
| Salaries, Compensation, and Employee Benefits | $123,209 |
| Total Fundraising Expense | $25,775 |
| Grants and Similar Amounts Paid | $7,600 |
| Professional Fundraising Fees | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Other | $171,815 | - | - | $171,815 |
| Occupancy | $62,491 | $5,681 | $2,840 | $71,012 |
| Current Officers, Directors, Trustees, and Key Employees | $40,336 | $11,001 | $9,779 | $61,116 |
| Other Salaries and Wages | $13,345 | $26,567 | $11,386 | $51,298 |
| Payroll Taxes | $6,597 | $3,379 | $819 | $10,795 |
| Office Expenses | $7,505 | $748 | $294 | $8,547 |
| Grants to Domestic Individuals | $7,600 | - | - | $7,600 |
| Insurance | $4,029 | $1,834 | $201 | $6,064 |
| Depreciation Depletion | $3,600 | - | - | $3,600 |
| Information Technology | $2,371 | $216 | $108 | $2,695 |
| Conferences and Meetings | $1,861 | $399 | $334 | $2,594 |
| Advertising | $2,187 | - | - | $2,187 |
| Fees for Services Accounting | - | $1,879 | - | $1,879 |
| Other Expenses | $346 | - | - | $346 |
| All Other Expenses | $60 | $16 | $14 | $90 |
| Travel | $89 | - | - | $89 |
| Total Functional Expenses | $357,472 | $51,720 | $25,775 | $434,967 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
“The form 990 is shared for a comment period. Once any questions are addressed (if any), the form 990 is filed with the appropriate agencies.”
“The organization has a conflict of interest policy in place and the board of directors of the organization monitors and enforces this policy to ensure compliance.”
“The board of directors uses independent data sources to aid in the determination and verification of the salaries of the school's executive director and management team members.”
“The board of directors uses independent data sources to aid in the determination and verification of the salaries of the school's executive director and management team members.”
“The organization makes form 990 available to the public upon request. Additionally, the form 990 is available on the website www.guidestar.org.”
“The organization makes its governing documents, financial statements, and form 990 available to the public upon request.”
“Continued from page 2, part iii, line 4a in 2023-24, the academy held two student honors recitals, where students audition to be a part of the performance, and three general student recitals. The program has approximately 250 students drawn from the local area. The program was conducted by 22 experienced music teachers and divided into fall and spring semester with the optional summer semester. The length of the program is generally 30 weeks lessons and classes. In 2023-24, academy's early childhood music program continued to implement the world-renowned music together method in which groups of mixed-age students (0-5 years old) are led by a specially trained teacher to develop children's natural musical instincts and skills necessary for the later study of instrument or voice. These classes are structured in three 10-week semesters and are offered at both downtown and mt. Pleasant locations. The suzuki program for 4-year-old string players has grown to consistent weekly lessons and group classes as more students enrolled. Theory and composition classes have continued in online format. These are open to all students who are encouraged to attend one of these two theory classes: theory and ear training - this class is a fun and interactive class suitable for beginners and intermediate level. Students of all instruments, including voice. No previous experience is necessary for the beginner level class; students move to intermediate level based on instructor's recommendation. Composition and songwriting - this class is for the students to learn to utilize their musical knowledge and instrumental skills to produce their own compositions. To attend this class, note reading ability and basic theory knowledge are required. Scholarship program: the organization's scholarship program is designed for students who are seriously committed to the musical training. The scholarships are divided into merit based and financial need-based awards. Students can apply for the program by filling out required paperwork, write a personal statement, and provide a letter of recommendation from a teacher. Applicants must audition and/or pass interview to be considered for an award. Upon the receipt of the scholarship, students sign the contract committing to certain hours of practice, regular lesson and concert attendance, and volunteer hours. Terranova piano trio: this ensemble consists of the core violin, piano, and cello faculty members and functions as academy's trademark of excellent professional performing. It serves two purposes: inspire students and deliver classical music to our community. Terranova performs public concerts and conducts outreach concerts in public schools to help local music teachers enhance their curriculum. The eclipse ensemble of cam (formerly the new music ensemble) is a group of charleston academy of music faculty that specializes in a wide spectrum of classical music from the last 100 years, including conventional avant-garde art music, concert music from nontraditional sources (musical theatre, cabaret, historical and contemporary media), and music influenced by a variety of cultures and nationalities. It is instrumental in diversifying charleston's music culture. Academy's popular concert series rush hour concerts have continued with its 10th season. These concerts showcase the talented faculty of the academy, with occasional guest artists, in an hour-long program. The series aim to make classical music more accessible to the community, perfect for all ages to attend in the early evening before heading home. Concerts are free and open to the public. The annual charleston sonatina festival launched by the academy in 2019 held its 5th run. The festival provides piano students and composers with an opportunity to explore and expand their skills in the sonata/sonatina genre, as well as to perform in a welcoming yet competitive environment. The abundance of sonatinas and sonatas in various levels and styles makes these pieces”
“Instructional contract labor 170,765 0 0 piano tuning 1,050 0 0 total 171,815 0 0”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 48008 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | false |
| IRS990/ActivityOrMissionDesc | 0 | THE CHARLESTON ACADEMY OF MUSIC IS COMMITTED TO PROVIDING ACCESS TO EXCEPTIONAL MUSIC EDUCATION, PERFORMANCE AND COMMUNITY OUTREACH TO ALL, REGARDLESS OF AGE, SKILL, GENDER, ETHNICITY OR INCOME. |
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| IRS990/AdvertisingGrp/TotalAmt | 0 | 2187 |
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| IRS990/AllOtherExpensesGrp/FundraisingAmt | 0 | 14 |
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| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 90 |
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| IRS990/ChangeToOrgDocumentsInd | 0 | false |
| IRS990/CollectionsOfArtInd | 0 | false |
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| IRS990/Desc | 0 | THE ACADEMIC PROGRAM PROVIDES A COMPLETE MUSIC EDUCATION OF THE HIGHEST QUALITY TO PREPARE STUDENTS FOR PROFESSIONAL CAREERS AS MUSICIANS, MUSIC EDUCATORS, AND LIFELONG ADVOCATES OF CLASSICAL MUSIC. STUDENTS OF THE ACADEMIC PROGRAM MAY CHOOSE TO RECEIVE MUSICAL INSTRUCTION IN PIANO, JAZZ PIANO, VOICE, VIOLIN, VIOLA, ORGAN, TRUMPET, CELLO, CLASSICAL GUITAR, JAZZ GUITAR, FLUTE, CLARINET, SAXOPHONE, AND HARP. MUSICAL INSTRUCTION INCLUDES PRIVATE LESSONS AND VARIOUS CLASSES, SUCH AS THEORY, EAR TRAINING, COMPOSITION, MASTERCLASSES AND PERFORMANCE CLASSES, AS WELL AS STRING ENSEMBLES AND GUITAR ORCHESTRA. ALL STUDENTS WILL HAVE MANY PERFORMANCE OPPORTUNITIES THROUGHOUT EACH SEMESTER. (CONTINUED ON SCHEDULE O) |
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| IRS990/ElectionOfBoardMembersInd | 0 | false |
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| IRS990/EmploymentTaxReturnsFiledInd | 0 | true |
| IRS990/EngagedInExcessBenefitTransInd | 0 | false |
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| IRS990/FamilyOrBusinessRlnInd | 0 | false |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | BOARD MEMBER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | BOARD MEMBER |
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| IRS990/FormationYr | 0 | 2002 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
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| IRS990/MissionDesc | 0 | THE CHARLESTON ACADEMY OF MUSIC IS COMMITTED TO PROVIDING ACCESS TO EXCEPTIONAL MUSIC EDUCATION, PERFORMANCE AND COMMUNITY OUTREACH TO ALL, REGARDLESS OF AGE, SKILL, GENDER, ETHNICITY OR INCOME. |
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| IRS990/PYOtherRevenueAmt | 0 | 2895 |
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| IRS990/PYTotalExpensesAmt | 0 | 401936 |
| IRS990/PYTotalRevenueAmt | 0 | 515436 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 103906 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
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| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | ALL OF THE ACADEMY'S PUBLICATIONS REFERENCE ITS RACIALLY NONDISCRIMINATORY POLICY. THESE MATERIALS INCLUDE PRINTED BROCHURES, FLYERS, AND NEWSPAPER ADVERTISEMENTS. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 1 | THE ACADEMY RECEIVED GOVERNMENTAL SUPPORT IN THE WAY OF STATE GRANT FUNDING. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE E, LINE 3 |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE E, LINE 6 |
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| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | SCHOLARSHIPS ARE AVAILABLE AND AWARDED TO STUDENTS WHO APPLY AND MEET THE CRITERIA OF FINANCIAL NEED AND MUSICAL APTITUDE. |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | CONTINUED FROM PAGE 2, PART III, LINE 4A IN 2023-24, THE ACADEMY HELD TWO STUDENT HONORS RECITALS, WHERE STUDENTS AUDITION TO BE A PART OF THE PERFORMANCE, AND THREE GENERAL STUDENT RECITALS. THE PROGRAM HAS APPROXIMATELY 250 STUDENTS DRAWN FROM THE LOCAL AREA. THE PROGRAM WAS CONDUCTED BY 22 EXPERIENCED MUSIC TEACHERS AND DIVIDED INTO FALL AND SPRING SEMESTER WITH THE OPTIONAL SUMMER SEMESTER. THE LENGTH OF THE PROGRAM IS GENERALLY 30 WEEKS LESSONS AND CLASSES. IN 2023-24, ACADEMY'S EARLY CHILDHOOD MUSIC PROGRAM CONTINUED TO IMPLEMENT THE WORLD-RENOWNED MUSIC TOGETHER METHOD IN WHICH GROUPS OF MIXED-AGE STUDENTS (0-5 YEARS OLD) ARE LED BY A SPECIALLY TRAINED TEACHER TO DEVELOP CHILDREN'S NATURAL MUSICAL INSTINCTS AND SKILLS NECESSARY FOR THE LATER STUDY OF INSTRUMENT OR VOICE. THESE CLASSES ARE STRUCTURED IN THREE 10-WEEK SEMESTERS AND ARE OFFERED AT BOTH DOWNTOWN AND MT. PLEASANT LOCATIONS. THE SUZUKI PROGRAM FOR 4-YEAR-OLD STRING PLAYERS HAS GROWN TO CONSISTENT WEEKLY LESSONS AND GROUP CLASSES AS MORE STUDENTS ENROLLED. THEORY AND COMPOSITION CLASSES HAVE CONTINUED IN ONLINE FORMAT. THESE ARE OPEN TO ALL STUDENTS WHO ARE ENCOURAGED TO ATTEND ONE OF THESE TWO THEORY CLASSES: THEORY AND EAR TRAINING - THIS CLASS IS A FUN AND INTERACTIVE CLASS SUITABLE FOR BEGINNERS AND INTERMEDIATE LEVEL. STUDENTS OF ALL INSTRUMENTS, INCLUDING VOICE. NO PREVIOUS EXPERIENCE IS NECESSARY FOR THE BEGINNER LEVEL CLASS; STUDENTS MOVE TO INTERMEDIATE LEVEL BASED ON INSTRUCTOR'S RECOMMENDATION. COMPOSITION AND SONGWRITING - THIS CLASS IS FOR THE STUDENTS TO LEARN TO UTILIZE THEIR MUSICAL KNOWLEDGE AND INSTRUMENTAL SKILLS TO PRODUCE THEIR OWN COMPOSITIONS. TO ATTEND THIS CLASS, NOTE READING ABILITY AND BASIC THEORY KNOWLEDGE ARE REQUIRED. SCHOLARSHIP PROGRAM: THE ORGANIZATION'S SCHOLARSHIP PROGRAM IS DESIGNED FOR STUDENTS WHO ARE SERIOUSLY COMMITTED TO THE MUSICAL TRAINING. THE SCHOLARSHIPS ARE DIVIDED INTO MERIT BASED AND FINANCIAL NEED-BASED AWARDS. STUDENTS CAN APPLY FOR THE PROGRAM BY FILLING OUT REQUIRED PAPERWORK, WRITE A PERSONAL STATEMENT, AND PROVIDE A LETTER OF RECOMMENDATION FROM A TEACHER. APPLICANTS MUST AUDITION AND/OR PASS INTERVIEW TO BE CONSIDERED FOR AN AWARD. UPON THE RECEIPT OF THE SCHOLARSHIP, STUDENTS SIGN THE CONTRACT COMMITTING TO CERTAIN HOURS OF PRACTICE, REGULAR LESSON AND CONCERT ATTENDANCE, AND VOLUNTEER HOURS. TERRANOVA PIANO TRIO: THIS ENSEMBLE CONSISTS OF THE CORE VIOLIN, PIANO, AND CELLO FACULTY MEMBERS AND FUNCTIONS AS ACADEMY'S TRADEMARK OF EXCELLENT PROFESSIONAL PERFORMING. IT SERVES TWO PURPOSES: INSPIRE STUDENTS AND DELIVER CLASSICAL MUSIC TO OUR COMMUNITY. TERRANOVA PERFORMS PUBLIC CONCERTS AND CONDUCTS OUTREACH CONCERTS IN PUBLIC SCHOOLS TO HELP LOCAL MUSIC TEACHERS ENHANCE THEIR CURRICULUM. THE ECLIPSE ENSEMBLE OF CAM (FORMERLY THE NEW MUSIC ENSEMBLE) IS A GROUP OF CHARLESTON ACADEMY OF MUSIC FACULTY THAT SPECIALIZES IN A WIDE SPECTRUM OF CLASSICAL MUSIC FROM THE LAST 100 YEARS, INCLUDING CONVENTIONAL AVANT-GARDE ART MUSIC, CONCERT MUSIC FROM NONTRADITIONAL SOURCES (MUSICAL THEATRE, CABARET, HISTORICAL AND CONTEMPORARY MEDIA), AND MUSIC INFLUENCED BY A VARIETY OF CULTURES AND NATIONALITIES. IT IS INSTRUMENTAL IN DIVERSIFYING CHARLESTON'S MUSIC CULTURE. ACADEMY'S POPULAR CONCERT SERIES RUSH HOUR CONCERTS HAVE CONTINUED WITH ITS 10TH SEASON. THESE CONCERTS SHOWCASE THE TALENTED FACULTY OF THE ACADEMY, WITH OCCASIONAL GUEST ARTISTS, IN AN HOUR-LONG PROGRAM. THE SERIES AIM TO MAKE CLASSICAL MUSIC MORE ACCESSIBLE TO THE COMMUNITY, PERFECT FOR ALL AGES TO ATTEND IN THE EARLY EVENING BEFORE HEADING HOME. CONCERTS ARE FREE AND OPEN TO THE PUBLIC. THE ANNUAL CHARLESTON SONATINA FESTIVAL LAUNCHED BY THE ACADEMY IN 2019 HELD ITS 5TH RUN. THE FESTIVAL PROVIDES PIANO STUDENTS AND COMPOSERS WITH AN OPPORTUNITY TO EXPLORE AND EXPAND THEIR SKILLS IN THE SONATA/SONATINA GENRE, AS WELL AS TO PERFORM IN A WELCOMING YET COMPETITIVE ENVIRONMENT. THE ABUNDANCE OF SONATINAS AND SONATAS IN VARIOUS LEVELS AND STYLES MAKES THESE PIECES |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE FORM 990 IS SHARED FOR A COMMENT PERIOD. ONCE ANY QUESTIONS ARE ADDRESSED (IF ANY), THE FORM 990 IS FILED WITH THE APPROPRIATE AGENCIES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY IN PLACE AND THE BOARD OF DIRECTORS OF THE ORGANIZATION MONITORS AND ENFORCES THIS POLICY TO ENSURE COMPLIANCE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE BOARD OF DIRECTORS USES INDEPENDENT DATA SOURCES TO AID IN THE DETERMINATION AND VERIFICATION OF THE SALARIES OF THE SCHOOL'S EXECUTIVE DIRECTOR AND MANAGEMENT TEAM MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE BOARD OF DIRECTORS USES INDEPENDENT DATA SOURCES TO AID IN THE DETERMINATION AND VERIFICATION OF THE SALARIES OF THE SCHOOL'S EXECUTIVE DIRECTOR AND MANAGEMENT TEAM MEMBERS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE ORGANIZATION MAKES FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. ADDITIONALLY, THE FORM 990 IS AVAILABLE ON THE WEBSITE WWW.GUIDESTAR.ORG. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | INSTRUCTIONAL CONTRACT LABOR 170,765 0 0 PIANO TUNING 1,050 0 0 TOTAL 171,815 0 0 |
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| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 15B |
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| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PART IX, LINE 11G |
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| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
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| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 1859 SUMMERVILLE AVE STE 800 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | CHARLESTON |
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| ReturnHeader/ReturnTs | 0 | 2025-06-16T12:16:30-04:00 |
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