Winchester Community Music School Trust

Analysis

Winchester Community Music School Trust is a registered charity in United States, based in Winchester, MA. It received its IRS tax-exemption ruling in September 1984, 42 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 July 2023, Winchester Community Music School Trust reported income of $3.1m and spending of $2.3m, leaving 23% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $1.9m to $3.1m (+58%), an average of +12% a year. The sharpest change came in the year to July 2023, when income rose by 31%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Winchester Community Music School Trust sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within MA. Charities of a similar size with the same main cause include Independence Seaport Museum ($3.1m), Arts in Stark ($3.1m) and Afro-Latin Jazz Alliance of New York Inc ($3.1m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 34% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $137k (5.8% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $7.8m against liabilities of $547k, net assets of $7.2m. It reported 73 employees.