Millennial Music

Analysis

Millennial Music is a registered charity in United States, based in Queen Creek, AZ. It received its IRS tax-exemption ruling in June 2022, 4 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 June 2023, Millennial Music reported income of $2.6m and spending of $2.8m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.1m to $2.6m (+26%), an average of +6.0% a year. The sharpest change came in the year to June 2022, when income rose by 30%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Millennial Music sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 86th percentile within AZ. Charities of a similar size with the same main cause include Committee of 100 Inc ($2.6m), Project Healthy Minds Corporation ($2.6m) and Bronx Council on the Arts Inc ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 5.5% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $616k (22% of expenses). Other salaries and wages came to $629k. At year end it held assets of $411k against liabilities of $382k, net assets of $30k. It reported 30 employees.