Music Worcester Inc

Analysis

Music Worcester Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in November 1943, 83 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, Music Worcester Inc reported income of $2.7m and spending of $1.8m, leaving 36% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.0m to $2.7m (-10%), an average of -2.7% a year. The sharpest change came in the year to June 2022, when income rose by 320%. Over the whole period it spent 46% 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 Worcester Inc 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 87th percentile within MA. Charities of a similar size with the same main cause include Venice Symphony Inc ($2.7m), Chicago Sinfonietta Inc ($2.7m) and Native Renewables Inc ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 19% of the total. At year end it held assets of $12.8m against liabilities of $172k, net assets of $12.6m. It reported 5 employees.