Polyhymnia Music Foundation Inc

Analysis

Polyhymnia Music Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2004, 22 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 2024, Polyhymnia Music Foundation Inc reported income of $51k and spending of $44k, spending 86% of its income. Across the 2 years on record, from June 2023 to June 2024, income grew from $25k to $51k (+102%), an average of +102% a year. The sharpest change came in the year to June 2024, when income rose by 102%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Polyhymnia Music Foundation Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 22nd percentile within NY. Charities of a similar size with the same main cause include Titusville Council on the Arts Incorporated ($51k), Golden Gate Railroad Museum ($51k) and North American Arabidopsis Steering Committee ($51k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 86% and program service revenue 14% of the total. At year end it held assets of $16k against liabilities of $0, net assets of $16k.