Danbury Music Centre Inc

Analysis

Danbury Music Centre Inc is a registered charity in United States, based in Danbury, CT. It received its IRS tax-exemption ruling in March 1951, 75 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 May 2024, Danbury Music Centre Inc reported income of $333k and spending of $381k, spending 114% of what it took in. Across the 6 years on record, from May 2019 to May 2024, income fell from $342k to $333k (-2.7%), an average of -0.5% a year. The sharpest change came in the year to May 2022, when income rose by 74%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Danbury Music Centre Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 61st percentile within CT. Charities of a similar size with the same main cause include Kauai Philippine Cultural Center ($333k), Off-Road Motorsports Hall of Fame ($333k) and Menomonee Falls Downtown Inc ($333k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 63% and program service revenue 36% of the total. Other salaries and wages came to $39k. At year end it held assets of $359k against liabilities of $25k, net assets of $334k. It reported 1 employees.