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Nonprofiteer
← INSTITUTE OF MUSICAL ART

Form 990 for tax year 2022

Filed by INSTITUTE OF MUSICAL ART.

Totals

Total revenue
$0
Total expenses
$618,517
Contributions and grants received
$0
Grants paid
$618,517
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$12,345,130
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$12,345,130
Program services expenses (Part IX)
$618,517
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$618,517

Program services were 100.0% 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.

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $618,517 · program services $618,517

Balance sheet

Part X, book values.

  • 12 · Investments: other securities

    beginning of year $12,555,370 · end of year $12,345,130

  • 27 · Net assets without donor restrictions

    beginning of year $12,555,370 · end of year $12,345,130

Mission and programs · 2022

Mission

THE MISSION OF THE INSTITUTE OF MUSICAL ART (IMA) IS SUPPORT OF THE JUILLIARD SCHOOL (JUILLIARD), A 501(C)(3) EXEMPT ORGANIZATION THROUGH ANNUAL DISTRIBUTIONS FROM THE IMA'S ENDOWMENT FUNDS.

Activities or mission (Part I)

SUPPORT OF THE JUILLIARD SCHOOL, A 501(C)(3) ORGANIZATION.

  • SUPPORT PAID TO THE JUILLIARD SCHOOL, A 501(C)(3) EXEMPT ORGANIZATION.

    Expenses $618,517 · Grants $618,517

As filed on the 2022 return.

Listed in Part VII

  • Joseph Polisi

    TRUSTEE

    Total calculated
    $414,058
    From this org
    $0
    From related orgs
    $350,469
    Other
    $63,589
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $339,707 related
    Bonus
    $0
    Other
    $0 + $10,762 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $33,089 related
    Filer's total
    $0 + $414,058 related

  • Christine Todd

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Bruce Kovner

    PRESIDENT

    Total calculated
    $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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE IMA DID NOT PROVIDE ANY OF THE ITEMS LISTED ON PART I, LINE 1A TO ANY PERSONS LISTED IN FORM 990, PART VII, SECTION A, LINE 1A DURING THE CURRENT YEAR. FURTHERMORE, IT DOES NOT PROVIDE REIMBURSEMENT OF ANY EXPENSES, INCLUDING THOSE LISTED IN LINE 1A, BECAUSE ITS ONLY ACTIVITY IS SUPPORT OF THE JUILLIARD SCHOOL THROUGH ANNUAL DISTRIBUTIONS FROM ITS INVESTMENT PORTFOLIO, WHICH IS MANAGED BY JUILLIARD. SINCE THERE ARE NO EMPLOYEES OF THE IMA AND NO OFFICERS OR TRUSTEES ARE COMPENSATED BY THE IMA, THE MEASURES LISTED IN PART I, LINE 3 TO DETERMINE COMPENSATION ARE NOT APPLICABLE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202441319349303584

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