Manhattan School Of Music in New York, New York (NY)

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Manhattan School Of Music
Employer Identification Number (EIN)131656667
Name of OrganizationManhattan School Of Music
In Care of NamePaul Kelleher
Address120 Claremont Ave 115, New York, NY 10027-4689
ActivitiesPrivate school, Other cultural or historical activities, School, college, trade school, etc.
SubsectionEducational Organization
Ruling Date11/1947
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2013
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$90,608,224
Amount of Income$57,202,359
Form 990 Revenue Amount$47,591,722
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Arts Education


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Amount of income in 2013: $57,202,359
This organization: 

 $57,202,359
Other organizations performing similar types of work: 

 $206,067

Assets in 2013: $90,608,224
Manhattan School Of Music: 

 $90,608,224
Other organizations performing similar types of work: 

 $109,929

Expenses in 2013: $45,468,443
This organization: 

 $45,468,443
Other organizations performing similar types of work: 

 $240,853

Income to expenses ratio in 2013: 1.3
This organization: 

 1.3
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 82.4%
Manhattan School Of Music: 

 82.4%
Other organizations performing similar types of work: 

 82.4%

Number of employees in 2013: 1,186
Manhattan School Of Music: 

 1,186
Other organizations performing similar types of work: 

 10

Employees paid over $100,000 in 2013: 4.4%
Manhattan School Of Music: 

 4.4%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 8.3%
This organization: 

 8.3%
Other organizations performing similar types of work: 

 45.8%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoNo
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoNo
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?YesYes
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?YesYes
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 1096113111
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return1,1691,186
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYes
Did the organization notify the donor of the value of the goods or services provided?YesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$2,049,227$1,873,649
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$524,462$479,283
Total number of individuals who received more than $100,000 of reportable compensation from the organization2529
Total number of independent contractors who received more than $100,000 of compensation from the organization1923
Statement of Revenue
201120122013
Total revenue$38,504,001$47,083,969$47,591,722
Contributions, Gifts, Grants and Other Similar Amounts$5,878,816$3,851,162$3,953,947
Program Service Revenue$25,447,223$39,974,039$40,487,512
611600$35,795,104$36,248,431
611600$4,178,935$4,239,081
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$754,815$518,776$313,046
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$2,794,639$2,935,805
Gross rents (Real / Personal)$0 / $0$2,794,639 / $0$2,935,805 / $0
Less: rental expenses (Real / Personal)$0 / $0$0 / $0$0 / $0
Rental income or (loss) (Real / Personal)$0 / $0$2,794,639 / $0$2,935,805 / $0
Net gain/loss from sales of assets other than inventory$179,014$35,794$-7,694
Gross amount from sales of assets other than inventory (Securities / Other)$3,381,673 / $0$5,557,156 / $0$9,351,167 / $0
Less: cost or other basis and sales expenses (Securities / Other)$3,202,659 / $0$5,521,362 / $0$9,358,861 / $0
Gain or (loss) (Securities / Other)$179,014 / $0$35,794 / $0$-7,694 / $0
Net income/loss from fundraising events$-77,021$-82,297$-75,619
Gross income from fundraising events$26,700$17,809$22,200
Less: direct expenses$103,721$100,106$97,819
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$-7,929$-8,144$-15,275
Gross sales of inventory, less returns and allowances$155,001$167,040$138,682
Less: cost of goods sold$162,930$175,184$153,957
Miscellaneous Revenue$6,329,083$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$34,784,668$44,262,294$45,468,443
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$8,891,611$9,062,000
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$0$1,976,431$1,115,032
Compensation not included above, to disqualified persons$0$62,926
Other salaries and wages$18,260,083$17,143,607$18,682,675
Pension plan accruals and contributions$908,026$847,992
Other employee benefits$1,864,134$1,959,734
Payroll taxes$1,323,029$1,318,831$1,478,653
Fees for services (non-employees)
Management$0$0
Legal$217,040$142,672
Accounting$163,930$181,380
Lobbying$45,300$65,342
Professional fundraising services$150,221$161,150$126,326
Investment management fees$98,033$95,629
Other$26,839$38,353
Advertising and promotion$149,025$143,732
Office expenses$3,807,264$3,814,492
Information technology$195,725$243,744
Royalties$0$0
Occupancy$2,524,222$2,725,418
Travel$193,595$200,095
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$62,575$99,665
Interest$1,259,553$1,215,298
Payments to affiliates$0$0
Depreciation, depletion, and amortization$2,403,838$2,441,763
Insurance$30,775$38,300
Other expenses$820,790$687,222
Balance Sheet
201120122013
Total assets$87,634,740$88,780,408$90,608,224
Cash - non-interest-bearing$7,792,770$3,630,537
Savings and temporary cash investments$69,364$5,634,619
Pledges and grants receivable, net$5,278,909$5,898,421
Accounts receivable, net$0$0
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$961,596$979,480
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$493,917$564,521
Land, buildings, and equipment: cost or other basis$55,669,948$54,364,697
Investments - publicly traded securities$10,583,511$10,927,819
Investments - other securities$7,756,595$8,439,043
Investments - program-related$0$0
Intangible assets$0$0
Other assets$173,798$169,087
Total liabilities$46,304,736$45,503,518$43,529,284
Accounts payable and accrued expenses$1,978,666$2,028,610
Grants payable$0$0
Deferred revenue$1,685,529$1,050,938
Tax-exempt bond liabilities$41,215,000$40,055,000$38,820,000
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$676,769$529,596$375,262
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$1,254,727$1,254,474
Total net assets or fund balances$41,330,004$43,276,890$47,078,940
Unrestricted net assets$21,274,521$22,998,881
Temporarily restricted net assets$1,337,260$1,380,475
Permanently restricted net assets$20,665,109$22,699,584
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Number of organizations supported0
Sum of amounts of support$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$21,532,545$25,264,595$25,638,674$25,983,507$28,623,718$29,466,308$29,246,276$35,625,314
Contributions, gifts, grants, and similar amounts received$4,489,768$4,689,827$2,817,263$2,233,615$3,245,711$2,056,597$3,856,988$7,306,858
Contributions to donor advised funds$0$0
Direct public support$3,993,170$4,163,145$2,274,351$1,678,799$2,894,727$1,676,334$3,473,860$6,937,932
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$496,598$526,682$542,912$554,816$350,984$380,263$383,128$368,926
Program service revenue including government fees and contracts$14,145,570$15,865,379$17,152,792$17,064,224$18,849,692$19,875,776$18,501,764$20,096,173
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$10,467$9,274$8,864$38,726$41,931$80,632$53,959$59,538
Dividends and interest from securities$1,096,350$472,495$389,435$243,738$378,053$459,562$414,117$597,411
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$1,189,895$-798,188$-138,968$581,732$411,762$1,020,851$422,275$1,123,231
Gross amount from sales of assets other than inventory$1,189,895$0$0$581,732$411,762$1,020,851$4,739,853$13,959,033
Less: cost or other basis and sales expenses$0$798,188$138,968$0$0$0$4,317,578$12,835,802
Net income or (loss) from special events and activities$126,812$114,675$93,988$12,550$157,726$0$0$0
Gross revenue$194,217$176,026$133,602$15,050$222,250$0$0$0
Less: direct expenses other than fundraising expenses$67,405$61,351$39,614$2,500$64,524$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$47,221$10,654$36,788$-15,170$-10,785
Gross sales of inventory, less returns and allowances$0$0$0$49,910$157,147$172,402$141,113$169,154
Less: cost of goods sold$0$0$0$2,689$146,493$135,614$156,283$179,939
Other revenue$473,683$4,911,133$5,315,300$5,761,701$5,528,189$5,936,102$6,012,343$6,452,888
Total expenses$18,373,084$26,165,055$29,767,891$24,284,415$26,952,626$28,180,969$29,754,558$33,450,020
Program services$13,051,996$20,046,706$25,500,638$20,558,152$22,811,303$24,139,051$24,950,120$27,558,563
Management and general$4,303,432$4,979,303$3,469,932$2,938,772$3,188,581$3,539,726$3,866,020$4,625,439
Fundraising$1,017,656$1,139,046$797,321$787,491$952,742$502,192$938,418$1,266,018
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$40,984,021$36,604,638$32,843,726$35,323,690$37,088,191$39,588,332$40,706,600$39,639,671
Excess or (deficit) for the year$3,159,461$-900,460$-4,129,217$1,699,092$1,671,092$1,285,339$-508,282$2,175,294
Net assets or fund balances at beginning of year$41,544,042$38,638,842$36,604,638$32,843,726$35,323,690$37,088,191$39,588,332$40,706,600
Other changes in net assets or fund balances$-3,719,482$-1,133,744$368,305$780,872$93,409$1,214,802$1,626,550$-3,242,223
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$33,450,020$27,558,563$4,625,439$1,266,018
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$508,076$0$508,076$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$16,173,501$13,878,780$1,669,745$624,976
Pension plan contributions not included above$664,764$516,065$110,684$38,015
Employee benefits not included above$1,160,204$740,102$386,781$33,321
Payroll taxes$1,098,847$904,411$154,199$40,237
Professional fundraising fees$475,844$0$0$475,844
Accounting fees$111,750$0$111,750$0
Legal fees$84,093$0$84,093$0
Supplies$466,094$402,225$55,277$8,592
Telephone$149,673$136,430$12,592$651
Postage and shipping$139,625$69,889$62,152$7,584
Occupancy$1,411,180$1,324,562$82,362$4,256
Equipment rental and maintenance$365,155$279,434$83,259$2,462
Printing and publications$475,464$229,747$232,622$13,095
Travel$55,374$37,452$13,947$3,975
Conferences, conventions, and meetings$0$0$0$0
Interest$4,053,378$3,942,216$111,162$0
Depreciation, depletion, etc.$2,548,218$2,472,090$72,387$3,741
Other expenses not covered above$3,508,780$2,625,160$874,351$9,269
Balance Sheets
20002001200220032004200520062007
Total assets$91,552,932$91,454,980$89,269,738$88,604,330$89,987,284$90,733,131$90,037,590$89,723,563
Cash - non-interest-bearing$4,456,266$2,688,113$2,782,115$2,797,261$3,984,521$7,265,727$5,334,115$5,490,405
Savings and temporary cash investments$0$0$0$0$0$0$0$0
Accounts receivable less allowance for doubtful accounts$123,233$76,772$130,082$131,886$0$0$0$0
Pledges receivable less allowance for doubtful accounts$5,575,092$5,910,368$5,022,067$3,212,324$3,122,747$2,520,302$2,046,944$1,825,041
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$617,258$619,004$550,377$593,519$641,477$659,114$743,708$745,448
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$301,349$57,325$30,359$75,069$231,884$156,860$133,046$188,184
Investments - publicly-traded securities$10,197,674$8,497,084
Investments - other securities$12,637,981$12,383,127$12,706,516$14,004,237$15,231,917$12,707,006$2,941,805$5,981,308
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$61,337,978
Investments - other$0$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$55,945,178$65,076,949$64,233,109$63,823,761$60,837,431$61,999,402$63,263,921$0
Other assets, including program-related investments$11,896,575$4,643,322$3,815,113$3,966,273$5,937,307$5,424,720$5,376,377$5,658,115
Total liabilities$50,568,910$54,850,342$56,426,012$53,280,640$52,899,093$51,144,799$49,330,990$50,083,892
Accounts payable and accrued expenses$353,454$1,140,887$475,796$604,338$1,110,249$1,291,983$535,025$1,395,561
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$706,964$649,164$683,937$792,051$911,705$1,026,452$1,005,096$1,333,847
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$49,000,000$49,000,000$48,230,000$47,455,000$46,635,000$45,720,000$44,760,000$43,745,000
Mortgages and other notes payable$0$3,569,101$7,036,279$4,429,251$4,242,139$1,669,874$1,589,415$2,162,468
Other liabilities$508,492$491,190$0$0$0$1,436,490$1,441,454$1,447,016
Total liabilities and net assets/fund balances$91,552,932$91,454,980$89,269,738$88,604,330$89,987,284$90,733,131$90,037,590$89,723,563
Total net assets or fund balances$40,984,022$36,604,638$32,843,726$35,323,690$37,088,191$39,588,332$40,706,600$39,639,671
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$21,532,545$25,264,595$25,638,674$25,983,507$28,623,718$29,466,308$29,246,276$35,628,751
Total revenue, gains, and other support per audited financial statements$17,794,041$24,122,120$25,991,112$26,684,760$28,746,265$29,497,523$30,843,228$33,024,919
Other expenses$-3,652,077$-1,072,393$407,919$786,061$239,902$211,354$1,702,374$176,500
Net unrealized gains on investments$-3,719,482$-1,133,744$368,305$780,872$93,409$75,740$1,546,091$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$67,405$61,351$39,614$5,189$146,493$135,614$156,283$176,500
Other revenue$86,427$70,082$55,481$84,808$117,355$180,139$105,422$2,780,332
Investment expenses$86,427$70,082$55,481$84,808$117,355$180,139$105,422$111,162
Other$0$0$0$0$0$0$0$2,669,170
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$18,373,083$26,165,055$29,767,891$24,284,415$26,952,626$28,180,969$29,754,558$33,453,457
Total expenses and losses per audited financial statements$18,354,061$26,156,324$29,752,024$24,204,796$26,981,764$28,136,444$29,805,419$33,518,795
Other revenue$67,405$61,351$39,614$5,189$146,493$135,614$156,283$176,500
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$67,405$61,351$39,614$5,189$146,493$135,614$156,283$176,500
Other expenses$86,427$70,082$55,481$84,808$117,355$180,139$105,422$111,162
Investment expenses$86,427$70,082$55,481$84,808$117,355$180,139$105,422$111,162
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
35$477,176$30,900$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings15
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$33,196$8,189,087$20,096,173
Program service revenue
Program service revenue 1000000$000$0$20,096,173
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$59,538$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$597,411$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$1,123,231$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$-10,785$0
Other revenueOther financial vehicles$33,196Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$6,419,692$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$135,931$17,500$0
$133,357$17,951$0
$127,767$10,522$0
$121,341$15,877$0
$119,989$14,579$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2009)
IncomeExpensesNet
Total$0$0$0
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2009)
Total deductions$0
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$0
Unrelated business taxable income before net operating loss deduction$0
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$0
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Manhattan School Of Music120 Claremont Ave 115, New York, NY 10027-4689NY1947-11$57,202,359
2Art Students League Of New York215 W 57th St, New York, NY 10019-2104NY1939-07$12,465,487
3Alliance For Young Artists & Writers Inc557 Broadway 2nd Floor, New York, NY 10012-3962NY1995-05$3,210,147
4Center For Arts Education IncFl 9, New York, NY 10018NY1997-04$2,709,740
5Cattaraugus County Living Arts Association10 Main St, Salamanca, NY 14779NY1985-03$32,944
6Studio Art Centers International Inc50 Broad Street, New York, NY 10004-2307NY1977-11$5,123,289
7Skowhegan School Of Painting And Sculpture Inc136 West 22nd Street, New York, NY 10011-2424NY1947-07$3,483,494
8Young Audiences-New York IncOne East 53rd St 9th Fl, New York, NY 10022-4200NY1970-05$2,463,136
9Victor Association Of Cultural And Performing Arts Inc630 Crowley Rd, Farmington, NY 14425-9525NY1984-04$1,430,232
10Young Audiences Of Western New York Inc1 Lafayette Sq, Buffalo, NY 14203-1823NY1967-01$577,466
11Uptown Dance Academy Inc167 E 121st St, New York, NY 10035-3524NY1997-06$380,664
12Youth Theatre Interactions IncPO BOX 1187, Yonkers, NY 10702-1187NY1974-07$302,421
13The Quartet Program Inc1163 East Ave Apt 4, Rochester, NY 14607-2337NY1981-11$199,968
14X-Quest Inc1131 Van Antwerp Rd, Schenectady, NY 12309-5925NY1999-05$138,017
15To Make The World A Better Place27 Bleecker St Apt 3a, New York, NY 10012-2442NY1998-01$42,548
16Brave New Theatre Company Inc12 E 86th St Apt 723, New York, NY 10028-0512NY1993-12$0
17Brown Paper Press Inc26 Rolling Drive, Brookville, NY 11545NY2008-07$0
18India Center Of Art And Culture Inc530 W 25th St 2nd Flr, New York, NY 10001-5516NY1999-06$0
19The Ten Penny Players Inc393 Saint Pauls Avenue, Staten Island, NY 10304-2127NY1968-05$0
20Veve Visual Environments For Visual Education1925 Seventh Avenue 7 L, New York, NY 10026NY1998-08$0
Number of organizations performing similar types of work
Alaska1
Alabama2
Arkansas1
Arizona4
California33
Colorado5
Connecticut6
District of Columbia7
Delaware2
Florida15
Georgia6
Hawaii2
Iowa2
Idaho3
Illinois14
Indiana3
Kansas1
Kentucky2
Louisiana2
Massachusetts15
Maryland6
Maine3
Michigan10
Minnesota6
Missouri5
Mississippi1
Montana1
North Carolina8
North Dakota3
New Hampshire6
New Jersey13
New Mexico4
Nevada1
New York48
Ohio10
Oklahoma1
Oregon6
Pennsylvania9
Rhode Island3
South Carolina2
Tennessee2
Texas10
Utah1
Virginia7
Vermont3
Washington8
Wisconsin6
West Virginia1
Total310

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