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School for Strings INC FY2024 filing

Tax-deductible

New York, NY501(c)(3)Arts & CultureEIN 51-0201835Revenue $1.6M in FY2024

On file with the IRSschoolforstrings.org419 W 54th St, 10019-4405 · New York, NYTax-exempt since Sep 1977School — 170(b)(1)(A)(ii)

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To provide music students with the necessary facilities, equipment, and instructors.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$148K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $157K a year · 9% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$148K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $16K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$110K
0.8% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
+13% vs prior year
Spent
$1.5M
To programs
74%
Net assets
$13.9M
By yearFY2020–FY2025
Revenue
$1.6M
FY2024▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.9M
FY2021$1.6M
FY2022$1.5M
FY2023$1.4M
FY2024$1.6M
FY2025$2.1M
Expenses
$1.5M
FY2024▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$1.5M
FY2022$1.5M
FY2023$1.5M
FY2024$1.5M
FY2025$1.6M
Net assets
$13.9M
FY2024▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2020$11.8M
FY2021$12.9M
FY2022$12.0M
FY2023$12.5M
FY2024$13.9M
FY2025$14.9M

From the FY2024 Form 990 (year ending August 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1977.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $1.1M Management & general 26% · $405K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990; $148K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Alexander Yudkovsky
Executive Director
$147,741Pt VII · Sec A
$0Pt VII · Sec A
Gregory Galterio
Chairman/President/Trustee
$0Pt VII · Sec A
Juliana Pereira
Secretary/Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
Philip Toh
Treasurer/Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Alexander Yudkovsky’s $167K as Executive Director is at the 73rd percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Alexander Yudkovsky$166,837$147,741$148,078$132,874$132,598$133,610

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers music students facilities, equipment, and instructors for their studies.

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Provided by the organization

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1 program · $1.1M · in their own filed words · FY2023
01

The expenses as reported in part ix were incurred to help provide music students with the necessary facilities, equipment, and instructors to help develop and enhance their musical talents. For the year ended august 31, 2024, the number of students and instructors that participated in the program were 230 and 29, respectively.

$1.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Marin Community FoundationFY2024$10K
John P and Anne Welsh McNulty FoundationFY2024$5K
Pfizer Foundation INCFY2024$500
Total grants receivedfrom 3 funders$16K
See all 3 funders →

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.6M
Ln 12
Fees for servicesLn 2g$1.2M
Gifts and grantsLn 1h$225K
Investment incomeLn 3$218K
Money outPt IX
$1.5M
Ln 25
Programscol B$1.1M
Managementcol C$405K
Owns and owesPt X
$13.9M
net assets · Ln 32
Cash and savingsLn 1–2$513K
Total assetsLn 16$14.0M
LiabilitiesLn 26$110K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$225K
Fundraising eventsLn 1c$55K
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$218K
Gains on assetsLn 7−$167K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
SavingsLn 2$513K
Cash and savings togetherLn 1–2$513K
InvestmentsLn 11–13$11.8M
Land, buildings, equipmentLn 10c$650K
Other assetsLn 15$1.0M
Total assetsLn 16$14.0M
LiabilitiesLn 26$110K
Net assetsLn 32$13.9M
OperationsPt I, VI
EmployeesI 537
VolunteersI 60
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$235K$513K
InvestmentsLn 11–13$10.7M$11.8M
Land, buildings, equipmentLn 10c$680K$650K
Total assetsLn 16$12.6M$14.0M
LiabilitiesLn 26$123K$110K
Net assetsLn 32$12.5M$13.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$148K$107K$41K
Pay of disqualified personsLn 6$764K$552K$212K
Other employee benefitsLn 9$51K$37K$14K
Payroll taxesLn 10$63K$45K$18K
Accounting feesLn 11c$18K$18K
Advertising and promotionLn 12$53K$53K
Office expensesLn 13$13K$13K$675
Depreciation, depletion and amortizationLn 22$94K$90K$5K
InsuranceLn 23$42K$27K$14K
Other expenses (24a–d)Ln 24$238K$222K$16K
All other expensesLn 24e$56K$43K$13K
Total functional expensesLn 25$1.5M$1.1M$405K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.1M$1.6M$510K$14.9M 990 PDF
FY2024 Viewing $1.6M$1.5M$62K$13.9M 990 PDF
FY2023 $1.4M$1.5M−$89K$12.5M 990 PDF
FY2022 $1.5M$1.5M−$25K$12.0M 990 PDF
FY2021 $1.6M$1.5M$137K$12.9M 990 PDF
FY2020 $1.9M$1.6M$347K$11.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $1,603,295 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $103,090$225,244
I-9 Program service revenuePrior year $1,108,610$1,166,940
I-10 Investment incomePrior year $216,880$218,131
I-11 Other revenuePrior year −$10,716−$7,020
I-12 Total revenuePrior year $1,417,864$1,603,295
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,026,480$1,025,638
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $480,570$515,179
I-18 Total expensesPrior year $1,507,050$1,540,817
I-19 Revenue less expensesPrior year −$89,186$62,478
Part VI · Governance 8 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members8
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $1,603,295 across 8 lines filed
VIII-1c Fundraising events$55,475
VIII-1f All other contributions, gifts and grants$169,769
VIII-1h Total contributions, gifts and grants$225,244
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,166,940$1,166,940
VIII-3 Investment incomeExcluded from tax $384,788$384,788
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$166,657−$166,657
VIII-8 Net income from fundraising eventsExcluded from tax −$7,020−$7,020
VIII-12 Total revenueRelated to mission $1,166,940 · Unrelated business $0 · Excluded from tax $211,111$1,603,295
Part IX · Statement of functional expenses $1,540,817 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $106,782 · Management $40,959$147,741
IX-6 Pay of disqualified personsPrograms $552,461 · Management $211,905$764,366
IX-9 Other employee benefitsPrograms $36,693 · Management $14,037$50,730
IX-10 Payroll taxesPrograms $45,160 · Management $17,641$62,801
IX-11c Accounting feesManagement $18,500$18,500
IX-12 Advertising and promotionManagement $53,112$53,112
IX-13 Office expensesPrograms $12,817 · Management $675$13,492
IX-22 Depreciation, depletion and amortizationPrograms $89,706 · Management $4,721$94,427
IX-23 InsurancePrograms $27,380 · Management $14,366$41,746
IX-24 Other expenses (24a–d)Programs $221,894 · Management $15,846$237,740
IX-24e All other expensesPrograms $42,875 · Management $13,287$56,162
IX-25 Total functional expensesPrograms $1,135,768 · Management $405,049 · Fundraising $0$1,540,817
Part X · Balance sheet $14,039,478 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $234,666$512,586
X-4 Accounts receivableStart of year $34,728$45,623
X-9 Prepaid expenses and deferred chargesStart of year $13,462$10,901
X-10c Land, buildings and equipment, netStart of year $680,062$649,635
X-11 Publicly traded securitiesStart of year $10,652,615$11,820,733
X-15 Other assetsStart of year $1,000,000$1,000,000
X-16 Total assetsStart of year $12,615,533$14,039,478
X-17 Accounts payable and accrued expensesStart of year $66,298$47,517
X-19 Deferred revenueStart of year $56,992$62,975
X-26 Total liabilitiesStart of year $123,290$110,492
X-27 Net assets without donor restrictionsStart of year $12,453,803$13,891,903
X-28 Net assets with donor restrictionsStart of year $38,440$37,083
X-32 Total net assets or fund balancesStart of year $12,492,243$13,928,986
X-33 Total liabilities and net assetsStart of year $12,615,533$14,039,478
Part XI · Reconciliation of net assets $13,928,986 net assets at year end
XI-1 Total revenue$1,603,295
XI-2 Total expenses$1,540,817
XI-3 Revenue less expenses$62,478
XI-4 Net assets at start of year$12,492,243
XI-5 Net unrealized gains (losses) on investments$1,386,877
XI-7 Investment expenses−$12,612
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$13,928,986

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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