Charleston Academy of Music

EIN: 010739765 501(c)(3) Arts, Culture & Humanities

Charleston, SC

Total Revenue
$513,398
Total Expenses
$478,516
Total Assets
$876,544
Net Assets
$548,286
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Financial Trends

Organization Details

Formation Year
2002
Legal Domicile
SC
Principal Officer
Dr Irina Pevzner
Phone
8438057794
Tax Period
2024-08-01 to 2025-07-31

Charleston Academy of Music, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $513K in total revenue in fiscal year 2024. Expenses of $479K left a modest 7% surplus.

Mission

The Charleston Academy of Music is committed to providing access to exceptional music education, performance and community outreach to all, regardless of age, skill, gender, ethnicity or income.

Program Service Accomplishments

Program 1
Expenses: $372,947 Revenue: $404,466

The Academic Program provides a complete music education of the highest quality to prepare students for professional careers as musicians, music educators, and lifelong advocates of classical music...

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The Academic Program provides a complete music education of the highest quality to prepare students for professional careers as musicians, music educators, and lifelong advocates of classical music. Students of the Academic Program may choose to receive musical instruction in piano, jazz piano, voice, violin, viola, organ, trumpet, cello, classical guitar, jazz guitar, flute, clarinet, saxophone, and harp. Musical instruction includes private lessons and various classes, such as Theory, Ear Training, Composition, Masterclasses and Performance Classes, as well as String Ensembles and Guitar Orchestra. All students will have many performance opportunities throughout each semester.The program has approximately 250 students drawn from the local area. The program was conducted by 22 experienced music teachers and divided into Fall and Spring semester with the optional summer semester. The length of the program is generally 30 weeks lessons and classes. The Academy's early childhood music program continued to implement the world-renowned Music Together method in which groups of mixed-age students (0-5 years old) are led by a specially trained teacher to develop children's natural musical instincts and skills necessary for the later study of instrument or voice. These classes are structured in three 10-week semesters and are offered at both downtown and Mt. Pleasant locations. In March 2025 Charleston Academy of Music has purchased the space for operating in the North Mount Pleasant area, and is planning to transfer the current rented space to the new location in July 2027The Suzuki program for 4-year-old string players has grown to consistent weekly lessons and group classes as more students enrolled. Theory and Composition Classes have continued in online format. These are open to all students who are encouraged to attend one of these two theory classes: Theory and Ear Training - This class is a fun and interactiveclass suitable for beginners and intermediate level. Students of all instruments, including voice. No previous experience is necessary for the beginner level class; students move to intermediate level based oninstructor's recommendation. Composition and Songwriting - This class is for the students to learn to utilize their musical knowledge and instrumental skills to produce their own compositions. To attend this class, note reading ability and basic theory knowledge are required. Scholarship Program: The organization's scholarship program is designed for students who are seriously committed to the musical training. The scholarships are divided into merit based and financial need-based awards.Students can apply for the program by filling out required paperwork, write a personal statement, and provide a letter of recommendation from a teacher. Applicants must audition and/or pass interview to be consideredfor an award. Upon the receipt of the scholarship, students sign the contract committing to certain hours of practice, regular lesson and concert attendance, and volunteer hours.Terranova Piano Trio: this ensemble consists of the core violin, piano, and cello faculty members and functions as Academy's trademark of excellent professional performing. It serves two purposes: inspire students and deliver classical music to our community. Terranova performs public concerts and conducts outreach concerts in public schools to help local music teachers enhance their curriculum.The Eclipse Ensemble of CAM (formerly the New Music Ensemble) is a group of Charleston Academy of Music faculty that specializes in a wide spectrum of classical music from the last 100 years, including conventional avant-garde art music, concert music from nontraditional sources (musical theatre, cabaret, historical and contemporary media), and music influenced by a variety of cultures and nationalities. It is instrumental in diversifying Charleston's music culture.Academy's popular concert series Rush Hour Concerts have continued with its 10th season. These concerts showcase the talented faculty of the Academy, with occasional guest artists, in an hour-long program. The series aim to make classical music more accessible to the community, perfect for all ages to attend in the early evening before heading home. Concerts are free and open to the public.The annual Charleston Sonatina Festival launched by the Academy in 2019 held its 5th run. The festival provides piano students and composers with an opportunity to explore and expand their skills in the Sonata/Sonatina genre, as well as to perform in a welcoming yet competitive environment. The abundance of sonatinas and sonatas in various levels and styles makes these pieces the ideal manifestation of musical breadth, thus allowing every aspiring pianist to experience complete musicianship. Charleston-area students are invited to participate in the festival in two areas: Piano Performance and Composition. Students are welcome to take part in one or both areas. Students in the Performance area audition with a movement of a sonatina or sonata, demonstrate technical requirements related to the key of their performed piece, and answer questions related to their piece and "sonata form". Students in the Composition area create a musical composition for solo piano and submit their work (along with a short-written explanation) for consideration by a professional panel.The Charleston Academy of Music continued its partnership with the Meeting Street Academy to offer the Kidzymphony program. Students in grades 2 through 5 received string instruments and were instructed twice a week by Academy's faculty to learn violin, viola, and cello in orchestra setting during school and after school hours. Classes were free of charge to the families and took place during school and after school hours. The program culminated in a successful school-wide performance in May. Additionally, this year the program added a keyboard class to broaden music education for the students in the afterschool program. The Academy's faculty and students were invited to perform at the Piccolo Spoleto festival. Several faculty members and specially selected honor students presented electrifying music program of various genres. Academy's Summer Music Fest Jr continued its successful season in July. Open to students ages 3-6 years old, this full day music enrichment camp consisted of group classes that included music fundamentals in the form of Music Together and Eurhythmics instruction, Piano, Violin, Viola, Cello, Guitar, Woodwinds, Harp Instrument Petting Zoo, Arts, and other activities. Students at the Charleston Academy of music celebrated many successes and achievements in their music study endeavors. They included SC Music Teachers Association state audition winners, numerous prizewinners at the Charleston Music Teacher Association Achievement Day, multiple Charleston Symphony Orchestra League scholarship recipients, Charleston Music Club scholarship recipients, to name a few.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $86,382
Program Service Revenue $404,466
Investment Income $2,439
Other Revenue $20,111
TOTAL REVENUE $513,398

Expense Breakdown

Grants Paid $6,400
Salaries & Benefits $152,135
Fundraising Expenses $35,432
Program Expenses $372,947
Other Expenses $319,981
TOTAL EXPENSES $478,516

Year-over-Year Comparison

2024 2023 Change
Revenue $513,398 $538,873 0.0%
Expenses $478,516 $434,967 +0.1%
Net Income $34,882 $103,906 -0.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
4
Independent Members
4
Employees
3
Volunteers
70

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$62,264
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Ed Meyer Chairman 2.00
Officer Director
$0 $0 $0
Andrea Patrick Secretary 1.00
Officer Director
$0 $0 $0
Maria Cordova Board Member 1.00
Director
$0 $0 $0
Theresa Thomas Board Member 3.00
Director
$0 $0 $0
Dr Irina Pevzner Executive Director 40.00
Officer
$62,264 $0 $62,264
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $513,398 $478,516 $876,544 $34,882
2024 $538,873 $434,967 $521,969 $103,906
2023 $515,436 $401,936 $415,270 $113,500
2022 $414,301 $376,025 $302,002 $38,276
2021 $433,783 $336,074 $262,698 $97,709
2019 $304,972 $295,105 $236,407 $9,867
2018 $301,253 $281,177 $224,888 $20,076
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