Arts, Culture & Humanities
(A6E0)
IRS Verified
DX Registered
MERIT SCHOOL OF MUSIC
CharityAI™ Score
Not yet evaluated
Mission Statement
Merit School of Music transforms the lives of Chicago-area youth by providing the highest quality music education – with a focus on underserved communities – inspiring young people to achieve their full musical and personal potential.
Financial Overview — FY 2023
$11.7M
Total Revenue
$8.4M
Total Expenses
$34.7M
Net Assets
207
Employees
Revenue Sources
Expense Breakdown
Program Expense Ratio
80.4%
Fundraising Efficiency
0.0%
Operating Reserve
49.68x
Liability-to-Asset
3.5%
Revenue Diversification
63.3%
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2023 | $11.7M | $8.4M | $34.7M | 80.4% | 207 |
| 2022 | $6.6M | $8.1M | N/A | — | 207 |
| 2021 | $10.2M | $7.1M | N/A | — | 175 |
| 2020 | $7.6M | $7.1M | N/A | — | 209 |
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