Music Haven Inc

Analysis

Music Haven Inc is a registered charity in United States, based in New Haven, CT. It received its IRS tax-exemption ruling in August 2006, 20 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Music Haven Inc reported income of $1.6m and spending of $937k, leaving 41% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $772k to $1.6m (+107%), an average of +20% a year. The sharpest change came in the year to June 2024, when income rose by 98%. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Music Haven Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within CT. Charities of a similar size with the same main cause include Wheeling Symphony Society Inc ($1.6m), Orient Land Trust ($1.6m) and Society for the Preservation of the Duquesne Heights Incline ($1.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% and program service revenue 1.1% of the total. Compensation of current officers, directors and key employees was $125k (13% of expenses). Other salaries and wages came to $495k. At year end it held assets of $1.7m against liabilities of $4,294, net assets of $1.7m. It reported 10 employees.