Musica Nova Inc

Analysis

Musica Nova Inc is a registered charity in United States, based in Phoenix, AZ. It received its IRS tax-exemption ruling in July 2003, 23 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, Musica Nova Inc reported income of $97k and spending of $76k, leaving 21% of income unspent that year. Across the 3 years on record, from June 2022 to June 2024, income fell from $100k to $97k (-3.1%), an average of -1.6% a year. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Musica Nova Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 33rd percentile within AZ. Charities of a similar size with the same main cause include Geros Tou Morea Inc ($97k), Martin County Arts Council ($97k) and Singers Club ($97k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 90% and program service revenue 26% of the total. At year end it held assets of $55k against liabilities of $0, net assets of $55k.