Cormont Music

Analysis

Cormont Music is a registered charity in United States, based in Sugar Hill, NH. It received its IRS tax-exemption ruling in August 2017, 9 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, Cormont Music reported income of $279k and spending of $261k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $129k to $279k (+116%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 154%. Over the whole period it spent 75% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cormont Music sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 63rd percentile within NH. Charities of a similar size with the same main cause include St Marys Submarine Museum Inc ($279k), Penn Square Opera ($279k) and Dance-New Jersey Inc ($279k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $44k (17% of expenses). Other salaries and wages came to $13k. At year end it held assets of $198k against liabilities of $0, net assets of $198k. It reported 4 employees.