Friends of Dresden Music Foundation

Analysis

Friends of Dresden Music Foundation is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in July 2002, 24 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Friends of Dresden Music Foundation reported income of $55k and spending of $91k, spending 166% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $88k to $55k (-38%), an average of -38% a year. The sharpest change came in the year to December 2023, when income dropped by 38%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of Dresden Music Foundation sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 19th percentile within RI. Charities of a similar size with the same main cause include Schuylkill Ballet Theatre ($55k), Feast of the Flowering Moon Inc ($55k) and National Association of Multicultur Al Engineering Program Advocates I ($55k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 47% of the total. At year end it held assets of $73k against liabilities of $0, net assets of $73k.