Nonprofit · EIN 32-0542058
VARNA INTERNATIONAL MUSIC ACADEMY
Tax-exempt · COLUMBIA, SC 29201
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| July 31, 2025 | 990 | $1,114,027 | $994,294 | $119,733 | $168,083 | $210,635 | -$42,552 |
| July 31, 2024 | 990 | $1,216,717 | $1,421,318 | -$204,601 | $42,802 | $205,087 | -$162,285 |
| July 31, 2023 | 990 | $645,920 | $887,775 | -$241,855 | $139,032 | $96,716 | $42,316 |
Financial details: 990 for the year ended July 31, 2025
Revenue
- Contributions, gifts and grants
- $342,098
- of which government grants
- $332,264
- Program service revenue
- $771,929
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $333
- Occupancy
- $10,181
- Travel
- $399
- Program services (functional)
- $938,973
- Management and general (functional)
- $52,321
- Fundraising (functional)
- $3,000
Balance sheet and other
- Total assets, start of year
- $42,802
- Total assets, end of year
- $168,083
- Total liabilities, end of year
- $210,635
- Net assets, end of year
- -$42,552
- Land, buildings and equipment
- $9,519
- Gross receipts
- $1,114,027
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2017
- State of legal domicile
- SC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended July 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kalin Tchonev | Musical Director, Treas Trustee or director, Officer | 35 | $0 |
| Sharon Tchonev | Director, President Trustee or director, Officer | 35 | $0 |
| Shaul Paz | Director Trustee or director | 0.5 | $0 |
| Gregory Buchalter | Director, VP Trustee or director, Officer | 0.5 | $0 |
| Jonathan Stinson | Director, Board Sec Trustee or director | 0.5 | $0 |
990 for the year ended July 31, 2024: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kalin Tchonev | Musical Director, Treas Trustee or director, Officer | 35 | $0 |
| Sharon Tchonev | Director, President Trustee or director, Officer | 35 | $0 |
| Shaul Paz | Director Trustee or director | 0.5 | $0 |
| Gregory Buchalter | Director, VP Trustee or director, Officer | 0.5 | $0 |
| Jonathan Stinson | Director, Board Sec Trustee or director | 0.5 | $0 |
990 for the year ended July 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kalin Tchonev | Musical Director, Treas Trustee or director, Officer | 35 | $0 |
| Sharon Tchonev | Director, President Trustee or director, Officer | 35 | $0 |
| Shaul Paz | Director Trustee or director | 0.5 | $0 |
| Gregory Buchalter | Director, VP Trustee or director, Officer | 0.5 | $0 |
| Jonathan Stinson | Director, Board Sec Trustee or director | 0.5 | $0 |
Address and contacts
- Address (IRS master file)
- 1225 LAUREL STREET, COLUMBIA, SC 29201-5818
- Principal officer (990 for 2024)
- Sharon Tchonev, 1225 Laurel Street, Columbia, SC 29201
- Signed the 990
- Sharon Tchonev, Vice President
- Phone
- (803) 545-4166
- Return prepared by
- Randall L Raber CPA PA
Mission
To hold annual music academies and educational tours focusing on teaching students advanced music concepts and allowing them to practice their skills in opera productions, musicals, and choral-orchestral performances.
Program accomplishments
- Varna International Music Academy restarted its international music teaching academy and educational tours in Italy; it also produced and managed the Academy for teaching and performing the Muzika! festival all around the state of South Carolina.Expenses $938,973 · revenue $811,929
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in July, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | July 31, 2026 | December 15, 2026 | Not due yet |
| 2024 | July 31, 2025 | December 15, 2025 | 990 on file |
| 2023 | July 31, 2024 | December 16, 2024 | 990 on file |
IRS record
- EIN
- 32-0542058
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2018
- Accounting year ends
- July
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A68)
- Assets (IRS master file)
- $168,083
- Income (IRS master file)
- $1,114,027
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | July 2025 | $1,114,027 | $994,294 | $168,083 | XML |
| 990 | July 2024 | $1,216,717 | $1,421,318 | $42,802 | XML |
| 990 | July 2023 | $645,920 | $887,775 | $139,032 | XML |
| 990 | July 2022 | $1,227,146 | $1,224,173 | $449,855 | IRS |
| 990 | July 2021 | – | – | – | IRS |
| 990 | July 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 32-0542058).
Questions about VARNA INTERNATIONAL MUSIC ACADEMY
- What is the EIN of VARNA INTERNATIONAL MUSIC ACADEMY?
- The employer identification number (EIN) of VARNA INTERNATIONAL MUSIC ACADEMY is 32-0542058.
- Is VARNA INTERNATIONAL MUSIC ACADEMY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2018.
- Are donations to VARNA INTERNATIONAL MUSIC ACADEMY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does VARNA INTERNATIONAL MUSIC ACADEMY file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VARNA INTERNATIONAL MUSIC ACADEMY due?
- The return for tax year 2025 (the year ending July 31, 2026) is due December 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VARNA INTERNATIONAL MUSIC ACADEMY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended July 2025.
- Who is the principal officer of VARNA INTERNATIONAL MUSIC ACADEMY?
- The 990 for the year ended July 31, 2025 names Sharon Tchonev.
- Who are the officers and directors of VARNA INTERNATIONAL MUSIC ACADEMY?
- The 990 for the year ended July 31, 2025 lists 5 people; 0 received compensation from the organization.
- How much revenue does VARNA INTERNATIONAL MUSIC ACADEMY have?
- On its 990 for the year ended July 31, 2025 it reported revenue of $1,114,027, expenses of $994,294 and total assets of $168,083 at year end.
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All nonprofits in COLUMBIA · South Carolina · Arts, culture and humanities