Civic Intelligence

Academy of Indian Music Inc

990 • Fiscal year 2014 • EIN 16-1666518

Jul 01, 2013 to Jun 30, 2014 • Filed on Apr 24, 2015

Organization Profileaimarts.org
902 OAK TREE AVE Room 307080

(908) 222-0111

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

98th percentile

5.25x

Higher debt load relative to assets than 98% of similar nonprofits.

2014 filings • NTEE A23 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

97th percentile

1.05x

Higher debt load relative to revenue than 97% of similar nonprofits.

2014 filings • NTEE A23 • <$500k nonprofits • Source year 2014

Net Margin

27th percentile

-4.1%

Higher net margin than 27% of similar nonprofits.

2014 filings • NTEE A23 • <$500k nonprofits • Source year 2014

Top Officer Pay

96th percentile

$27,694

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 13.5% of source-year revenue.

2014 filings • NTEE A23 • <$500k nonprofits • Source year 2014

Asset Growth

23rd percentile

-9.7%

Faster asset growth than 23% of similar nonprofits.

2014 filings • NTEE A23 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

34th percentile

-16%

Faster revenue growth than 34% of similar nonprofits.

2014 filings • NTEE A23 • <$500k nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$40,840

Down $4,402 (-9.7%) from 2013

Net Assets

Down

-$173,756

Down $8,364 (-5.1%) from 2013

Liabilities

Up

$214,596

Up $3,962 (+1.9%) from 2013

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin27th percentile

Revenue

$205,025

No earlier filing loaded for comparison.

Expenses

Down

$213,389

Down $47,359 (-18%) from 2013

Net Income

-$8,364

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0-$100K-$200KAssets 2011: $29,982Liabilities 2011: $154,530Net Assets 2011: -$124,5482011Assets 2012: $29,003Liabilities 2012: $191,184Net Assets 2012: -$162,1812012Assets 2013: $45,242Liabilities 2013: $210,634Net Assets 2013: -$165,3922013Assets 2014: $40,840Liabilities 2014: $214,596Net Assets 2014: -$173,7562014Assets 2015: $41,830Liabilities 2015: $214,103Net Assets 2015: -$172,2732015

Highlighted filing

2014

Assets$40,840
Liabilities$214,596
Net Assets-$173,756
Open 2014 Filing

Operations Trend

Revenue Growth34th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200KRevenue 2011: $349,316Expenses 2011: $377,491Net Income 2011: -$28,1752011Expenses 2012: $353,8772012Expenses 2013: $260,7482013Revenue 2014: $205,025Expenses 2014: $213,389Net Income 2014: -$8,3642014Revenue 2015: $99,344Expenses 2015: $97,861Net Income 2015: $1,4832015

Highlighted filing

2014

Revenue$205,025
Expenses$213,389
Net Income-$8,364
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Apr 24, 2015
Return Version
2013v4.0
Gross Receipts
$205,025
Mission and Program Overview

Mission

At the Academy of Indian Music AIM you will find purity in all that we do expect teachings of pure classical music Classical Indian dance forms and even yoga. Its the perfect offering of rhythm and harmony- for your mind, body and soul

Academy of Indian Music Inc.AIM was organized in the State of New Jersey Not-for-profit Corporation Law to provide various social services like teaching music and yoga to its community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,763$9,483▼ $1,280
Cash and Non-Interest-Bearing Accounts$10,710$7,587▼ $3,123
Accounts Receivable$6,375$6,375→ $0
Total Assets$45,242$40,840▼ $4,402
Other Assets Total$17,394$17,395▲ $1
Liabilities
Unsecured Notes Loans Payable$192,098$192,098→ $0
Accounts Payable and Accrued Expenses$18,536$22,498▲ $3,962
Total Liabilities$210,634$214,596▲ $3,962
Net Assets / Fund Balance
Unrestricted Net Assets$-165,392$-173,756▼ $8,364
Total Net Assets Fund Balance$-165,392$-173,756▼ $8,364
Total Liabilities and Net Assets / Fund Balance$45,242$40,840▼ $4,402

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$8,477$20,867$29,344
Equipment$1,006$6,441$7,447
Other Land Buildings-$3,699$3,699
Other Assets Org$11,395--
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Uma NarashimhanSecetaryFT$27,694$27,694

Board Members and Trustees

NameTitle
Ravi NarayanswamyPresident
Badri NarayanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,964
Program Service Revenue
$135,907
Investment Income
$0
Other Revenue
$61,154
All Other Contributions
$434
Change in Net Assets
$-8,364
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$134,922
Other Expenses$78,467
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$73,972--$73,972
Occupancy$41,991--$41,991
Current Officers, Directors, Trustees, and Key Employees$27,694--$27,694
Other Employee Benefits$24,421--$24,421
Other Expenses$20,489--$20,489
Payroll Taxes$8,835--$8,835
Office Expenses-$4,275-$4,275
Fees for Services Accounting-$2,554-$2,554
Depreciation Depletion$1,074--$1,074
Insurance$1,063--$1,063
Conferences and Meetings$1,050--$1,050
Fees for Services Legal-$420-$420
Total Functional Expenses$206,140$7,249$0$213,389
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is revied by the executive committee before a presentation is made to the board of directors which are each given a copy before the meeting is scheduled so that all questions they have can be addressed at that time. The board committee members review the final form 990 before it is filed with the irs.”

Form 990, Part VI, Section B, Line 12C

“Each board member is asked to sign conflict of interest agreements that are kept at organizations premises. In signing the conflict of interest agreement they are required to disclose any transactions whether present or future that may cause a conflict or interest at the board meetings. If any conflict of interest arises then that board member is prohibited from participating in that board meetings delibration and decision of that transaction”

Form 990, Part VI, Section B, Line 14

“The organization maintains the records for seven years from the date of trnasaction in the digital form. The data is backed up every two weeks on a centralized server”

Form 990, Part VI, Section C, Line 19

“The governing documents are not available to the public.”

Filing and Contact Details

Filer

EIN
16-1666518
Phone
9082220111

Signing Officer

Name
Ravi Narayanswamy
Title
President
Signed
2015-04-24
Discuss with paid preparer
No

Organization Details

Principal Officer
Ravi Narayanswamy
Formed
2003
Legal Domicile
Nj
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Preparer
Ravi Ramaswamy CPA Cbm
Phone
7323551640
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIED BY THE EXECUTIVE COMMITTEE BEFORE A PRESENTATION IS MADE TO THE BOARD OF DIRECTORS WHICH ARE EACH GIVEN A COPY BEFORE THE MEETING IS SCHEDULED SO THAT ALL QUESTIONS THEY HAVE CAN BE ADDRESSED AT THAT TIME. THE BOARD COMMITTEE MEMBERS REVIEW THE FINAL FORM 990 BEFORE IT IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH BOARD MEMBER IS ASKED TO SIGN CONFLICT OF INTEREST AGREEMENTS THAT ARE KEPT AT ORGANIZATIONS PREMISES. IN SIGNING THE CONFLICT OF INTEREST AGREEMENT THEY ARE REQUIRED TO DISCLOSE ANY TRANSACTIONS WHETHER PRESENT OR FUTURE THAT MAY CAUSE A CONFLICT OR INTEREST AT THE BOARD MEETINGS. IF ANY CONFLICT OF INTEREST ARISES THEN THAT BOARD MEMBER IS PROHIBITED FROM PARTICIPATING IN THAT BOARD MEETINGS DELIBRATION AND DECISION OF THAT TRANSACTION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAINTAINS THE RECORDS FOR SEVEN YEARS FROM THE DATE OF TRNASACTION IN THE DIGITAL FORM. THE DATA IS BACKED UP EVERY TWO WEEKS ON A CENTRALIZED SERVER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 14
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt045242
IRS990/TotalAssetsEOYAmt040840
IRS990/TotalAssetsGrp/BOYAmt045242
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt07964
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07249
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0206140
IRS990/TotalFunctionalExpensesGrp/TotalAmt0213389
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0210634
IRS990/TotalLiabilitiesEOYAmt0214596
IRS990/TotalLiabilitiesGrp/BOYAmt0210634
IRS990/TotalLiabilitiesGrp/EOYAmt0214596
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-165392
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-173756
IRS990/TotalProgramServiceExpensesAmt0206140
IRS990/TotalProgramServiceRevenueAmt0135907
IRS990/TotalReportableCompFromOrgAmt027694
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0197061
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0205025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt045242
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt040840
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-165392
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-173756
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0192098
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0192098
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10902 Oak Tree Ave
IRS990/USAddress/City0s Plainsfield
IRS990/USAddress/State0NJ
IRS990/USAddress/ZIPCode007080
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0aimarts.org
IRS990/WhistleblowerPolicyInd0true
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Ravi Narayanswamy
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-04-24
ReturnHeader/Filer/BusinessName/BusinessNameLine10ACADEMY OF INDIAN MUSIC INC
ReturnHeader/Filer/BusinessNameControlTxt0ACAD
ReturnHeader/Filer/EIN0161666518
ReturnHeader/Filer/PhoneNum09082220111
ReturnHeader/Filer/USAddress/AddressLine10902 OAK TREE AVE Room 3
ReturnHeader/Filer/USAddress/City0S PLAINSFIELD
ReturnHeader/Filer/USAddress/State0NJ
ReturnHeader/Filer/USAddress/ZIPCode007080
ReturnHeader/PreparerPersonGrp/PhoneNum07323551640
ReturnHeader/PreparerPersonGrp/PreparationDt02015-04-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RAVI RAMASWAMY CPA CBM
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02015-04-24T07:07:58-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$40,840
Liabilities
$214,596
Net assets
-$173,756
Revenue
$205,025
Expenses
$213,389
Net income
-$8,364
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$0.42$2.14$1.72$0.99$0.98$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.41$2.15$1.74$2.05$2.13$0.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$2.11$1.65$2.61
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.29$1.91$1.62$3.54
2011Summary only. Only limited summary data is available for this year.$0.30$1.55$1.25$3.49$3.77$0.28
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)3 • <$500k nonprofits