New Musicals Inc

Analysis

New Musicals Inc is a registered charity in United States, based in Van Nuys, CA. It received its IRS tax-exemption ruling in June 2003, 23 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 August 2024, New Musicals Inc reported income of $224k and spending of $252k, spending 112% of what it took in. Across the 5 years on record, from August 2020 to August 2024, income grew from $219k to $224k (+2.6%), an average of +0.6% a year. The sharpest change came in the year to August 2021, when income rose by 39%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New Musicals Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 59th percentile within CA. Charities of a similar size with the same main cause include Senior Resources of Freeborn County ($224k), State Theater Company ($224k) and Gallery Route One ($224k).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 34% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $151k (60% of expenses). At year end it held assets of $107k against liabilities of $90, net assets of $107k. It reported 38 employees.