Music Academy International Inc
Nonprofit profile at a glance
- EIN
- 464377985
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024
- Location
- Hartford, CT, USA
- Phone
- 2125311514
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $984,608
- Expenses
- $825,805
- Assets
- $609,279
- Liabilities
- $158,349
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
2 people listed
Executive titles in this filing
- MITCHELL PIPER (EXECUTIVE DIRECTOR)
Highest reported compensation
- MITCHELL PIPER (EXECUTIVE DIRECTOR): $45,000 total reported compensation
- ROBIN PIPER (SECRETARY): $45,000 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide, create, develop, support and coordinate educational, research, and performance programs, services, and initiatives about music with a specific emphasis on the art and business or opera, orchestral, piano, and broadway and their respective traditions. To serve as a teaching and learning site for students of opera, orchestra, piano, and broadway music with a specific emphasis on career development and professional management. To engage in educational, research and performance activities and efforts directed to improving the knowledge and skills of students of opera, orchestral, piano, and broadway music, and enhancing their opportunties for success.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 63
- Transparency & Controls: 92
- Accountability: 68
- Sustainability: 50
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 66.2%; rating input score 66
- Program expense ratio: 78.6%; rating input score 79
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 2 of 9 controls in place; rating input score 22
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 16.1%; rating input score 71; 71st percentile among comparable filings
- Total-asset coverage ratio: 0.74; rating input score 33; 33rd percentile among comparable filings
- Liabilities to assets ratio: 0.26; rating input score 27; 27th percentile among comparable filings
- Officer compensation ratio: 10.9%; rating input score 34; 34th percentile among comparable filings
Growth
- Program expense growth: 0.9% per year; rating input score 100; 21st percentile among comparable filings
- Revenue growth: 28.7% per year; rating input score 100; 91st percentile among comparable filings
- Asset growth: 2.8% per year; rating input score 100; 29th percentile among comparable filings
Details
- Where the money goes: 66.2% of revenue deployed · 78.6% of spending went to programs
- Governance: 2 of 2 board members independent · 2 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $649K in reported program spending
- Leadership: top reported pay $45K · 2 people listed
- Consistency: 21 of 21 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Accountability: Governance controls: 6 of 8 not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
- High — Sustainability: Liabilities to assets ratio scored 27/100.
- Moderate — Sustainability: Officer compensation ratio scored 34/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.