Musicians Foundation Inc

Analysis

Musicians Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 1953, 73 years ago. 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 December 2023, Musicians Foundation Inc reported income of $226k and spending of $450k, spending 199% of what it took in. Across the 5 years on record, from April 2020 to December 2023, income fell from $260k to $226k (-13%), an average of -3.5% a year. The sharpest change came in the year to April 2021, when income rose by 129%. Over the whole period it spent 120% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Musicians Foundation Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 53rd percentile within NY. Charities of a similar size with the same main cause include Louisville Preschool Inc ($226k), Little League Baseball Inc ($226k) and The Harrison School District Foundation Inc ($226k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 2.6% of the total. Compensation of current officers, directors and key employees was $96k (21% of expenses). Other salaries and wages came to $66k. At year end it held assets of $2.5m against liabilities of $0, net assets of $2.5m. It reported 2 employees.