Melody of Dragon Inc

Analysis

Melody of Dragon Inc is a registered charity in United States, based in Forest Hills, NY. It received its IRS tax-exemption ruling in December 1999, 27 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 February 2024, Melody of Dragon Inc reported income of $170k and spending of $31k, leaving 82% of income unspent that year. Across the 2 years on record, from February 2023 to February 2024, income grew from $97k to $170k (+75%), an average of +75% a year. The sharpest change came in the year to February 2024, when income rose by 75%. Over the whole period it spent 20% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Melody of Dragon Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Suzuki Music Academy of Kalamazoo ($170k), United Theatre Education Center ($170k) and Wisconsin Veterans Museum Foundation Inc ($170k).

On its Form 990 for the period ending February 2024, revenue came from contributions and grants 48% and program service revenue 41% of the total. At year end it held assets of $619k against liabilities of $3,062, net assets of $616k.