Louisville Academy Of Music Inc

Louisville, KY
Tax-exempt since Jan. 1959
EIN: 61-0530107

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Arts, Culture and Humanities / Performing Arts Schools (NTEE)

Donations to this organization are tax deductible.

Details

According to its May 2023 tax filing, this nonprofit:

Operated a school

Organization is a school. Details are reported on Schedule E.

Revenue

$680k (2023)

Expenses

$632k (2023)

Total Assets

$432k (2023)

Total Liabilities

$55.4k (2023)

Years with multiple filings

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending May
2023

Revenue

$679,987

Expenses

$631,827

Net Income

$48,160

Net Assets

$376,948

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$174,154	25.6%
Program Services	$505,211	74.3%
Investment Income	$622	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$418,752	66.3%

Assets/Debt
Total Assets	$432,326
Total Liabilities	$55,378
Net Assets	$376,948

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Sara Callaway (Executive Director)	$61,353	$0	$0
Luke Darville (Director)	$6,450	$0	$0
Will Oldham (Director)	$0	$0	$0
Eleanor Livingston (Treasurer)	$0	$0	$0
Anna Hayden (Secretary)	$0	$0	$0
Sheronda Shorter (Director)	$0	$0	$0
David Handmaker (Chairman)	$0	$0	$0
Edward White (Director)	$0	$0	$0
Victoria Fuller (Director)	$0	$0	$0

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990

Filed on April 2, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending May
2022

Revenue

$223,091

Expenses

$228,266

Net Income

-$5,175

Net Assets

$328,788

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$6,816	3.1%
Program Services	$216,225	96.9%
Investment Income	$50	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$161,506	70.8%

Assets/Debt
Total Assets	$367,451
Total Liabilities	$38,663
Net Assets	$328,788

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Luke Darville (Director)	$0	$0	$0
Will Oldham (Director)	$0	$0	$0
Eleanor Livingston (Treasurer)	$0	$0	$0
Anna Hayden (Secretary)	$0	$0	$0
Sheronda Shorter (Director)	$0	$0	$0
David Handmaker (Director)	$0	$0	$0
Edward White (Director)	$0	$0	$0
Sara Callaway (Executive Director)	$0	$0	$0

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990

Filed on April 15, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

XML

Fiscal Year Ending Dec.
2021

Revenue

$477,050

Expenses

$416,171

Net Income

$60,879

Net Assets

$333,963

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$127,040	26.6%
Program Services	$348,896	73.1%
Investment Income	$234	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	-$30
Other Revenue	$910	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$49,926	12.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$245,669	59.0%

Assets/Debt
Total Assets	$339,746
Total Liabilities	$5,783
Net Assets	$333,963

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Sara Callaway (Executive Director)	$41,250	$0	$0
Laura Atkinson (Vice Chair)	$8,676	$0	$0
Erin Palmer (Chair (Partial Year))	$0	$0	$0
Kim Marley (Treasurer Thru 7/21)	$0	$0	$0
Melanie Erwin (Director/Chair Thru 10/21)	$0	$0	$0
Rachel Grimes (Director Thru 5/21)	$0	$0	$0
Luke Darville (Director)	$0	$0	$0
Will Oldham (Director)	$0	$0	$0
Eleanor Livingston (Treasurer Eff 8/21)	$0	$0	$0
Anna Hayden (Secretary Eff 8/21)	$0	$0	$0
Sheronda Shorter (Director)	$0	$0	$0
David Handmaker (Director)	$0	$0	$0

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990

Filed on Nov. 14, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$421,489

Expenses

$381,169

Net Income

$40,320

Net Assets

$273,084

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$70,781	16.8%
Program Services	$347,616	82.5%
Investment Income	$1,498	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$900	0.2%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$694	0.2%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$275,426	72.3%

Assets/Debt
Total Assets	$315,885
Total Liabilities	$42,801
Net Assets	$273,084

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Sara Callaway (Executive Director)	$40,551	$0	$0
Laura Atkinson (Vice Chair)	$9,569	$0	$0
Daniel Callaway (Director (Partial Year))	$889	$0	$0
Erin Palmer (Chairman)	$0	$0	$0
Kim Marley (Treasurer)	$0	$0	$0
Yoko Martin (Director)	$0	$0	$0
Melanie Erwin (Director)	$0	$0	$0
Rachel Grimes (Director)	$0	$0	$0
Luke Darville (Director)	$0	$0	$0
Will Oldham (Director)	$0	$0	$0
Daniel Smith (Director)	$0	$0	$0
Ryan Fenwick (Director (Partial Year))	$0	$0	$0
Yizhen Quan (Director (Partial Year))	$0	$0	$0

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990

Filed on May 18, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2019

Revenue

$358,121

Expenses

$299,976

Net Income

$58,145

Net Assets

$232,764

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$69,035	19.3%
Program Services	$280,588	78.4%
Investment Income	$704	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$6,132	1.7%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$1,062	0.3%
Other Revenue	$600	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$45,927	15.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$189,531	63.2%

Assets/Debt
Total Assets	$235,491
Total Liabilities	$2,727
Net Assets	$232,764

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Sara Callaway (Executive Director)	$45,927	$0	$0
Gary Pearson (Director)	$38,288	$0	$0
Laura Atkinson (Director)	$5,927	$0	$0
Daniel Callaway (Vice Chair)	$1,323	$0	$0
Erin Palmer (Chairman)	$0	$0	$0
Kim Marley (Treasurer)	$0	$0	$0
Ryan Fenwick (Director)	$0	$0	$0
Yoko Martin (Director)	$0	$0	$0
Yizhen Quan (Director)	$0	$0	$0

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990

Filed on July 15, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2018

Revenue

$250,399

Expenses

$226,317

Net Income

$24,082

Net Assets

$174,619

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$1,950	0.8%
Program Services	$245,974	98.2%
Investment Income	$1,171	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$1,304	0.5%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$98,486	43.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$111,009	49.1%

Assets/Debt
Total Assets	$175,732
Total Liabilities	$1,113
Net Assets	$174,619

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Sara Callaway (Executive Director)	$38,232	$0	$0
Gary Pearson (Secretary And Teacher)	$36,065	$0	$0
Ruth French (President (Partial Year))	$24,189	$0	$0
Dan Callaway (Vice President And Treasurer)	$0	$0	$0

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990

Filed on May 31, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2017

Revenue

$233,640

Expenses

$222,778

Net Income

$10,862

Net Assets

-$44,980

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$230,692	98.7%
Investment Income	$1,385	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$1,563	0.7%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$40,000	18.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$110,995	49.8%

Assets/Debt
Total Assets	$182,990
Total Liabilities	$227,970
Net Assets	-$44,980

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2016

Revenue

$225,523

Expenses

$221,726

Net Income

$3,797

Net Assets

-$47,325

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$221,337	98.1%
Investment Income	$1,328	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$2,858	1.3%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$33,000	14.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$115,950	52.3%

Assets/Debt
Total Assets	$232,925
Total Liabilities	$280,250
Net Assets	-$47,325

The IRS has provided extracted financial data for this filing, but has not yet released the source documents.

Fiscal Year Ending Jan.
2016

Revenue

$225,523

Expenses

$221,726

Net Income

$3,797

Net Assets

-$47,325

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$221,337	98.1%
Investment Income	$1,328	0.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$2,858	1.3%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$33,000	14.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$115,950	52.3%

Assets/Debt
Total Assets	$232,925
Total Liabilities	$280,250
Net Assets	-$47,325

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2015

Revenue

$220,811

Expenses

$207,661

Net Income

$13,150

Net Assets

$58,829

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$216,335	98.0%
Investment Income	$1,516	0.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$2,960	1.3%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$44,000	21.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$101,277	48.8%

Assets/Debt
Total Assets	$317,506
Total Liabilities	$258,677
Net Assets	$58,829

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2014

Revenue

$175,054

Expenses

$235,544

Net Income

-$60,490

Net Assets

$49,696

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$170,220	97.2%
Investment Income	$2,045	1.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$2,789	1.6%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$40,000	17.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$105,077	44.6%

Assets/Debt
Total Assets	$309,885
Total Liabilities	$260,189
Net Assets	$49,696

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2013

Revenue

$175,258

Expenses

$222,547

Net Income

-$47,289

Net Assets

$268,768

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$169,492	96.7%
Investment Income	$2,953	1.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$2,813	1.6%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$24,000	10.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$106,205	47.7%

Assets/Debt
Total Assets	$320,137
Total Liabilities	$51,369
Net Assets	$268,768

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2012

Revenue

$177,857

Expenses

$216,665

Net Income

-$38,808

Net Assets

$264,840

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$169,476	95.3%
Investment Income	$5,330	3.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$3,051	1.7%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$32,000	14.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$139,259	64.3%

Assets/Debt
Total Assets	$319,418
Total Liabilities	$54,578
Net Assets	$264,840

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$196,745

Expenses

$265,631

Net Income

-$68,886

Net Assets

$276,748

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$4,731	2.4%
Program Services	$183,349	93.2%
Investment Income	$6,045	3.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$2,620	1.3%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$45,000	16.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$161,750	60.9%

Assets/Debt
Total Assets	$320,644
Total Liabilities	$43,896
Net Assets	$276,748

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

Fiscal Year Ending Dec.
2006

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

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We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

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Updated December 20, 2024

Louisville Academy Of Music Inc

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $680k (2023)

Expenses $632k (2023)

Total Assets $432k (2023)

Total Liabilities $55.4k (2023)

Tax Filings by Year

Fiscal Year Ending May 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending May 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

No Document Links

Fiscal Year Ending Jan. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

Revenue

$680k (2023)

Expenses

$632k (2023)

Total Assets

$432k (2023)

Total Liabilities

$55.4k (2023)

Fiscal Year Ending May
2023

Fiscal Year Ending May
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Jan.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending June
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Jan.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004

Fiscal Year Ending Dec.
2003

Fiscal Year Ending Dec.
2002

Fiscal Year Ending Dec.
2001