Friends of the Music Hall

Analysis

Friends of the Music Hall is a registered charity in United States, based in Portsmouth, NH. It received its IRS tax-exemption ruling in March 1987, 39 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, Friends of the Music Hall reported income of $11.6m and spending of $9.5m, spending 81% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $6.1m to $11.6m (+91%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 57%. Over the whole period it spent 87% 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 the Music Hall sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within NH. Charities of a similar size with the same main cause include Charlotte Ballet ($11.6m), Joyce Theater Foundation Inc ($11.7m) and Auditorium Theatre of Roosevelt University Inc ($11.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 38% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $209k (2.2% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $15.1m against liabilities of $2.9m, net assets of $12.2m. It reported 129 employees.