Community Musicworks

Analysis

Community Musicworks is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in April 2001, 25 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 2023, Community Musicworks reported income of $2.4m and spending of $6.3m, spending 265% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.1m to $2.4m (-42%), an average of -13% a year. The sharpest change came in the year to June 2021, when income rose by 142%. Over the whole period it spent 56% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Community Musicworks sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within RI. Charities of a similar size with the same main cause include Georgetown Palace Theatre Inc ($2.4m), Foundation for Animal Care Andeducation ($2.4m) and Historic Hoosier Hills R C & D Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 106% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $181k (2.9% of expenses). Other salaries and wages came to $784k. At year end it held assets of $15.7m against liabilities of $4.9m, net assets of $10.7m. It reported 22 employees.