Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $304,063

• 1f · All other contributions, gifts and grants

  $9,306,118

• 1g · Noncash contributions included above

  $108,400

• 2a · Program service revenue: TUITION AND REGISTRATION FEES

  total $8,023,324 · related or exempt $8,023,324

• 2f · All other program service revenue

  total $123,148 · related or exempt $123,148

• 3 · Investment income

  total $455,445 · excluded $455,445

• 6a · Gross rents

  real property $35,435

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $35,435

• 6d · Net rental income or loss

  total $35,435 · excluded $35,435

• 7a · Gross sales of assets other than inventory

  securities $422,585

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

  securities $0

• 7c · Gain or loss

  securities $422,585

• 7d · Net gain or loss

  total $422,585 · excluded $422,585

• 8a · Fundraising events: gross income

  $100,047

• 8a · Fundraising events: contributions included on line 1c

  $304,063

• 8b · Fundraising events: direct expenses

  $132,017

• 8c · Net income from fundraising events

  total -$31,970 · excluded -$31,970

• 10a · Gross sales of inventory

  $200

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $200 · unrelated business $200

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $2,768,351 · program services $2,768,351

• 5 · Compensation of officers, directors and key employees

  total $403,355 · program services $317,567 · management and general $71,129 · fundraising $14,659

• 7 · Other salaries and wages

  total $6,960,705 · program services $6,216,807 · management and general $329,686 · fundraising $414,212

• 8 · Pension plan contributions

  total $58,494 · program services $46,053 · management and general $10,315 · fundraising $2,126

• 9 · Other employee benefits

  total $474,550 · program services $426,573 · management and general $21,673 · fundraising $26,304

• 10 · Payroll taxes

  total $535,801 · program services $485,150 · management and general $21,617 · fundraising $29,034

• 11b · Fees: legal

  total $13,679 · program services $13,679

• 11c · Fees: accounting

  total $93,858 · management and general $93,858

• 11e · Fees: professional fundraising services

  total $33,416 · fundraising $33,416

• 11f · Fees: investment management

  total $345 · management and general $345

• 11g · Fees: other

  total $488,090 · program services $327,526 · management and general $79,822 · fundraising $80,742

• 12 · Advertising and promotion

  total $45,439 · program services $1,481 · management and general $43,958

• 13 · Office expenses

  total $109,970 · program services $46,905 · management and general $40,058 · fundraising $23,007

• 14 · Information technology

  total $194,656 · program services $107,590 · management and general $57,263 · fundraising $29,803

• 16 · Occupancy

  total $466,056 · program services $441,375 · management and general $24,681

• 17 · Travel

  total $44,732 · program services $19,530 · management and general $24,730 · fundraising $472

• 19 · Conferences, conventions and meetings

  total $45,310 · program services $6,630 · management and general $25,050 · fundraising $13,630

• 20 · Interest

  total $81,441 · program services $78,021 · management and general $2,198 · fundraising $1,222

• 22 · Depreciation, depletion and amortization

  total $779,561 · program services $779,561

• 23 · Insurance

  total $128,751 · program services $128,751

• 24a · Other expenses: MUSIC EXPENSES & CONTRA

  total $323,243 · program services $279,583 · management and general $10,275 · fundraising $33,385

• 24b · Other expenses: SERVICES CHARGES

  total $200,724 · program services $175,496 · management and general $25,228

• 24c · Other expenses: DUES & PUBLICATIONS

  total $16,350 · program services $66 · management and general $16,284

• 24d · Other expenses: TAXES AND LICENSES

  total $3,844 · program services $3,361 · management and general $483

• 24e · All other expenses

  total $56,884 · program services $35,190 · management and general $20,891 · fundraising $803

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,153,843 · end of year $1,420,762

• 2 · Savings and temporary cash investments

  beginning of year $588,443 · end of year $391,497

• 3 · Pledges and grants receivable

  beginning of year $3,169,534 · end of year $2,956,735

• 4 · Accounts receivable

  beginning of year $24,928 · end of year $86,693

• 9 · Prepaid expenses and deferred charges

  beginning of year $108,762 · end of year $83,231

• 10a · Land, buildings and equipment: cost or other basis

  $29,792,932

• 10b · Land, buildings and equipment: accumulated depreciation

  $16,375,910

• 10c · Land, buildings and equipment, net

  beginning of year $14,002,412 · end of year $13,417,022

• 11 · Investments: publicly traded securities

  beginning of year $13,764,672 · end of year $19,615,493

• 15 · Other assets

  beginning of year $1,396,431 · end of year $1,365,688

• 17 · Accounts payable and accrued expenses

  beginning of year $313,806 · end of year $426,732

• 19 · Deferred revenue

  beginning of year $547,466 · end of year $583,682

• 23 · Secured mortgages and notes payable

  beginning of year $2,472,026 · end of year $2,190,382

• 25 · Other liabilities

  beginning of year $96,431 · end of year $65,688

• 27 · Net assets without donor restrictions

  beginning of year $15,678,294 · end of year $15,798,566

• 28 · Net assets with donor restrictions

  beginning of year $15,101,002 · end of year $20,272,071

The filer's explanations (Part III)

PART I, LINE 7

SCHEDULE J, PART II, COLUMN (B)(II) REPORTS DISCRETIONARY INCENTIVE AMOUNTS THAT WERE APPROVED BY THE BOARD BASED UPON PERFORMANCE.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• SMS COLLABORATIVE MANAGEMENT LLC

  TO SUPPORT SMS PRE-K SCHOLARSHIP COLLABORATIVE, LLC. · PA · income $0 · assets $0

  Directly controlled by SETTLEMENT MUSIC SCHOOL OF PHILADELPHIA

• SETTLEMENT MUSIC SCHOOL PRE-K SCHOLARSHIP COLLABORATIVE LLC

  TO PARTICIPATE IN PA EDUCATIONAL IMPROVEMENT SCHOLARSHIP TAX CREDIT PROGRAM · PA · income $0 · assets $0

  Directly controlled by SMS COLLABORATIVE MANAGEMENT LLC