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← ACADEMY OF MUSIC ENDOWMENT FUND

Form 990 for tax year 2024

Filed by ACADEMY OF MUSIC ENDOWMENT FUND.

Totals

Total revenue
$1,304,630
Total expenses
$1,538,092
Contributions and grants received
$0
Grants paid
$1,365,012
Program service revenue
$0
Investment income
$1,296,408
Other revenue
$8,222
Total assets, end of year
$23,977,723
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$23,977,723
Program services expenses (Part IX)
$1,369,475
Management and general expenses
$168,617
Fundraising expenses
$0
Program service expenses (Part III)
$1,369,475

Program services were 89.0% 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.

  • 3 · Investment income

    total $441,245 · excluded $441,245

  • 7a · Gross sales of assets other than inventory

    securities $5,635,880

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

    securities $4,780,717

  • 7c · Gain or loss

    securities $855,163

  • 7d · Net gain or loss

    total $855,163 · excluded $855,163

  • 11a · Other revenue: PARTNERSHIP INCOME

    total $8,222 · unrelated business $241 · excluded $7,981

  • 11e · Other revenue, total

    $8,222

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,365,012 · program services $1,365,012

  • 5 · Compensation of officers, directors and key employees

    total $22,314 · program services $4,463 · management and general $17,851

  • 24a · Other expenses: INVESTMENT EXPENSES

    total $125,000 · management and general $125,000

  • 24b · Other expenses: PARTNERSHIP EXPENSES

    total $25,732 · management and general $25,732

  • 24c · Other expenses: FOREIGN TAXES

    total $34 · management and general $34

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $1,449,111 · end of year $2,119,667

  • 11 · Investments: publicly traded securities

    beginning of year $22,383,073 · end of year $21,858,056

  • 31 · Retained earnings, endowment or other funds

    beginning of year $23,832,184 · end of year $23,977,723

Mission and programs · 2024

Mission

SUPPORT FOR THE ACADEMY OF MUSIC OF MUSIC OF PHILADELPHIA

  • SUPPORT FOR THE PHILADELPHIA ORCHESTRA OF MUSIC.

    Expenses $243,153 · Grants $242,360

  • SUPPORT FOR THE ACADEMY OF MUSIC OF PHILADELPHIA INC.

    Expenses $1,126,322 · Grants $1,122,652

As filed on the 2024 return.

Listed in Part VII

  • Pnc Bank N A

    TRUSTEE

    Total calculated
    $22,314
    From this org
    $22,314
    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
2024
Filed
12 March 2026
IRS schema version
2024v5.2
Source object
202600729349300345

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