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← ACADEMY OF MUSIC ENDOWMENT FUND

Form 990 for tax year 2023

Filed by ACADEMY OF MUSIC ENDOWMENT FUND.

Totals

Total revenue
$7,576,897
Total expenses
$1,076,313
Contributions and grants received
$3,010,308
Grants paid
$1,011,474
Program service revenue
$0
Investment income
$4,547,247
Other revenue
$19,342
Total assets, end of year
$23,832,184
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$23,832,184
Program services expenses (Part IX)
$1,015,944
Management and general expenses
$60,369
Fundraising expenses
$0
Program service expenses (Part III)
$1,015,944

Program services were 94.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $3,010,308

  • 3 · Investment income

    total $428,587 · excluded $428,587

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · excluded $0

  • 5 · Royalties

    total $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $19,963,281

  • 7b · Less cost or other basis and sales expenses

    securities $15,844,621

  • 7c · Gain or loss

    securities $4,118,660

  • 7d · Net gain or loss

    total $4,118,660 · excluded $4,118,660

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · excluded $0

  • 11a · Other revenue: PARTNERSHIP INCOME

    total $19,342 · excluded $19,342

  • 11e · Other revenue, total

    $19,342

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,011,474 · program services $1,011,474

  • 5 · Compensation of officers, directors and key employees

    total $22,351 · program services $4,470 · management and general $17,881

  • 11b · Fees: legal

    total $396 · management and general $396

  • 24a · Other expenses: Foreign Taxes on Qualified Dividend

    total $2,425 · management and general $2,425

  • 24b · Other expenses: Foreign Taxes on Non Qualified Div

    total $2,211 · management and general $2,211

  • 24c · Other expenses: Investment Expenses

    total $25,000 · management and general $25,000

  • 24d · Other expenses: Partnership Expenses

    total $12,456 · management and general $12,456

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $163,806 · end of year $1,449,111

  • 11 · Investments: publicly traded securities

    beginning of year $17,961,157 · end of year $22,383,073

  • 31 · Retained earnings, endowment or other funds

    beginning of year $18,124,963 · end of year $23,832,184

Mission and programs · 2023

Mission

SUPPORT FOR THE ACADEMY OF MUSIC OF MUSIC OF PHILADELPHIA

  • SUPPORT FOR THE PHILADELPHIA ORCHESTRA OF MUSIC.

    Expenses $203,189 · Grants $197,468

  • SUPPORT FOR THE ACADEMY OF MUSIC OF PHILADELPHIA INC.

    Expenses $812,755 · Grants $814,006

As filed on the 2023 return.

Listed in Part VII

  • Pnc Bank N A

    TRUSTEE

    Total calculated
    $22,351
    From this org
    $22,351
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
7 March 2025
IRS schema version
2023v6.0
Source object
202500739349301310

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