Civic Intelligence

The Music Academy Foundation Inc

EIN 83-3200894 • 501(c)3 • Garden City, NY

Profile

To promote the musical arts through financial assistance for high-quality music programs in and out of public and private schools, by providing instruments to local school music programs and scholarships to talented music students.

42 Nassau Blvd SouthGarden City, NY 11530

www.musicacademyfoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

0.99x

Higher debt load relative to assets than 94% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

92nd percentile

0.75x

Higher debt load relative to revenue than 92% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Source year 2024

Net Margin

39th percentile

-1.3%

Higher net margin than 39% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

96th percentile

$148,500

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 21.2% of source-year revenue.

NTEE A • $500k-$1M nonprofits • Source year 2024

Asset Growth

19th percentile

-13%

Faster asset growth than 19% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

59th percentile

17%

Faster revenue growth than 59% of similar nonprofits.

NTEE A • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$525,631

Down $76,921 (-13%) from 2023

Liabilities

Down

$521,181

Down $67,892 (-12%) from 2023

Net Assets

Down

$4,450

Down $9,029 (-67%) from 2023

Operations
Liabilities / Revenue92nd percentileNet Margin39th percentile

Revenue

Up

$699,374

Up $100,503 (+17%) from 2023

Expenses

Up

$708,403

Up $148,770 (+27%) from 2023

Net Income

Down

-$9,029

Down $48,267 (-123%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth19th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0-$200KAssets 2020: $9,095Liabilities 2020: $6Net Assets 2020: $9,0892020Assets 2021: $17,738Liabilities 2021: $38,325Net Assets 2021: -$20,5872021Assets 2022: $630,843Liabilities 2022: $656,602Net Assets 2022: -$25,7592022Assets 2023: $602,552Liabilities 2023: $589,073Net Assets 2023: $13,4792023Assets 2024: $525,631Liabilities 2024: $521,181Net Assets 2024: $4,4502024

Highlighted filing

2024

Assets$525,631
Liabilities$521,181
Net Assets$4,450
Open 2024 Filing

Operations Trend

Revenue Growth59th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$800K$600K$400K$200K$0-$200KRevenue 2020: $153,358Expenses 2020: $149,026Net Income 2020: $4,3322020Revenue 2021: $382,199Expenses 2021: $411,874Net Income 2021: -$29,6752021Revenue 2022: $478,286Expenses 2022: $483,458Net Income 2022: -$5,1722022Revenue 2023: $598,871Expenses 2023: $559,633Net Income 2023: $39,2382023Revenue 2024: $699,374Expenses 2024: $708,403Net Income 2024: -$9,0292024

Highlighted filing

2024

Revenue$699,374
Expenses$708,403
Net Income-$9,029
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$525,631
Liabilities
$521,181
Net assets
$4,450
Revenue
$699,374
Expenses
$708,403
Net income
-$9,029
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.26$5.21$0.04$6.99$7.08$0.09
2023Detailed filing. Detailed filing data is available for this year.$6.03$5.89$0.13$5.99$5.60$0.39
2022Detailed filing. Detailed filing data is available for this year.$6.31$6.57$0.26$4.78$4.83$0.05
2021Detailed filing. Detailed filing data is available for this year.$0.18$0.38$0.21$3.82$4.12$0.30
2020Detailed filing. Detailed filing data is available for this year.$0.09$0.00$0.09$1.53$1.49$0.04
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 4, 2025
Return Version
2024v5.2
Gross Receipts
$713,235
Mission and Program Overview

Mission

To promote the musical arts through financial assistance for high-quality music programs in and out of public and private schools, by providing instruments to local school music programs and scholarships to talented music students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$541,366$469,183▼ $72,183
Cash and Non-Interest-Bearing Accounts$50,096$41,194▼ $8,902
Prepaid Expenses and Deferred Charges$1,751$6,435▲ $4,684
Land, Buildings, and Equipment, Net$5,815$4,153▼ $1,662
Accounts Receivable$524$1,666▲ $1,142
Total Assets$602,552$525,631▼ $76,921
Other Assets Total$3,000$3,000→ $0
Liabilities
Unsecured Notes Loans Payable$566,266$502,301▼ $63,965
Accounts Payable and Accrued Expenses$22,807$18,880▼ $3,927
Total Liabilities$589,073$521,181▼ $67,892
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,479$4,450▼ $9,029
Total Net Assets Fund Balance$13,479$4,450▼ $9,029
Total Liabilities and Net Assets / Fund Balance$602,552$525,631▼ $76,921

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,153$5,347-
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Peter CocoPresidentexecutive DirectorFT$148,500$148,500
Deborah CocoTreasurerdirectorPT$40,363$40,363

Board Members and Trustees

NameTitle
Danielle GenovaDirector
Gina DaddarioDirector
Jennifer KightlingerDirector
Matt WilsonDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$10,995
Program Service Revenue
$669,282
Investment Income
$20
Other Revenue
$19,077
Change in Net Assets
$-9,029
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$480,029
Salaries, Compensation, and Employee Benefits$228,374
Total Fundraising Expense$8,178
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$249,530--$249,530
Current Officers, Directors, Trustees, and Key Employees$169,977$15,109$3,777$188,863
Depreciation Depletion$70,235$3,609-$73,844
All Other Expenses$37,238$1,766$57$39,061
Insurance$26,700-$1,405$28,105
Other Salaries and Wages$20,264$1,801$450$22,515
Occupancy$17,100$900-$18,000
Interest$17,050$897-$17,947
Payroll Taxes$15,296$1,360$340$16,996
Advertising$11,190-$1,243$12,433
Fees for Services Accounting-$10,933-$10,933
Office Expenses$7,209-$379$7,588
Information Technology$3,917-$206$4,123
Other Expenses$597$100$32$629
Total Functional Expenses$663,750$36,475$8,178$708,403
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$27,375
Fundraising Direct Expenses$13,861
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Concert Tkts$27,375$27,375$13,861$13,514
Total Events$27,375$27,375$13,861$13,514
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“Peter Coco and Deborah Coco are married.”

Form 990 governing body review Part VI line 11

“The governing board reviews the Form 990 and approves it before filing.”

Conflict of interest policy compliance Part VI line 12C

“Potential conflicts of interest are reviewed by the Board at meetings.”

CEO executive director top management comp Part VI line 15A

“Compensation is voted on by the Board of Directors.”

Other officer or key employee compensation Part VI line 15B

“Compensation is voted on by the Board of Directors.”

Governing documents etc available to public Part VI line 19

“Upon request.”

Filing and Contact Details

Filer

Filer Name
The Music Academy Foundation Inc
EIN
83-3200894
In Care Of
% PETER COCO
Phone
5163026861
Address
42 NASSAU BLVD SOUTH, GARDEN CITY, NY 11530

Signing Officer

Name
Peter Coco
Title
President
Phone
5163026861
Signed
2025-11-04
Discuss with paid preparer
Yes

Organization Details

Formed
2017
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
4
Employees
3
Volunteers
1

Preparer

Firm
Donald Damore CPA PC
Address
94 West Main Street Suite 201A, Bay Shore, NY 11706
Preparer
Donald Damore
Phone
5163306403
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

“Contractors/Music Teachers $249,530”

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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt011141
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01091
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt036867
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt020
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt017
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt037
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt027605
IRS990ScheduleA/SubstantialContributorsTotAmt09262
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt010995
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt013640
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt011141
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01091
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt036867
IRS990ScheduleA/TotalSupportAmt036904
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleD/EquipmentGrp/BookValueAmt04153
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05347
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt09500
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04153
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt013861
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Concert Tkts
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt027375
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt027375
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt027375
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt027375
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt013514
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt013861
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt013861
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Peter Coco and Deborah Coco are married.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The governing board reviews the Form 990 and approves it before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Potential conflicts of interest are reviewed by the Board at meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation is voted on by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Compensation is voted on by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Contractors/Music Teachers $249,530
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6List of other fees for services expenses Part IX line 11g
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalContributionsAmt010995
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt08178
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt036475
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0663750
IRS990/TotalFunctionalExpensesGrp/TotalAmt0708403
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0589073
IRS990/TotalLiabilitiesEOYAmt0521181
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IRS990/TotalLiabilitiesGrp/EOYAmt0521181
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt013479
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04450
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0663750
IRS990/TotalProgramServiceRevenueAmt0669282
IRS990/TotalReportableCompFromOrgAmt0188863
IRS990/TotalRevenueGrp/ExclusionAmt013534
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0674845
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0699374
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt01
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0602552
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0525631
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0566266
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0502301
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.musicacademyfoundation.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PETER COCO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum05163026861
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE MUSIC ACADEMY FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MUSI
ReturnHeader/Filer/EIN0833200894
ReturnHeader/Filer/InCareOfNm0% PETER COCO
ReturnHeader/Filer/PhoneNum05163026861
ReturnHeader/Filer/USAddress/AddressLine1Txt042 NASSAU BLVD SOUTH
ReturnHeader/Filer/USAddress/CityNm0GARDEN CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011530
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0844832104
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Donald Damore CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt094 West Main Street Suite 201A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Bay Shore
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011706
ReturnHeader/PreparerPersonGrp/PhoneNum05163306403
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DONALD DAMORE

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