The Piano School of New York City Inc

Nonprofit profile at a glance

EIN
043763130
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
New York, NY, USA
Phone
9143841839
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities N.E.C.

Reported finances

Revenue
$968,611
Expenses
$912,798
Assets
$507,384
Liabilities
$65,502

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • VERA BARSKAYA ANSELMO (EXECUTIVE DIRECTOR)
  • JUSTIN WILSON (PRESIDENT)
  • BENITO PIUZZI (VICE PRESIDENT)

Highest reported compensation

  • VERA BARSKAYA ANSELMO (EXECUTIVE DIRECTOR): $120,000 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 make a positive impact and broaden the perspectives of all children and adults by providing exposure to and availability of piano and music instruction by highly trained musicians.

What it reported doing in 2024

Provide music instruction to students via group or private lessons.

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
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 most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 48
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 51.8%; rating input score 52
  • Program expense ratio: 55.7%; rating input score 56
  • Fundraising efficiency: $1.04 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.8%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 0.56; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 13.1%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 54th percentile among comparable filings
  • Revenue growth: 7.3% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 26.9% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 51.8% of revenue deployed · 55.7% of spending went to programs
  • Governance: 10 of 10 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $508K in reported program spending
  • Leadership: top reported pay $120K · 11 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • Review — Financial Efficiency: Program expense ratio scored 56/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 3/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.