Musica Sacra Inc

Analysis

Musica Sacra Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1974, 52 years ago. 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 June 2023, Musica Sacra Inc reported income of $469k and spending of $479k, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $361k to $469k (+30%), an average of +6.8% a year. The sharpest change came in the year to June 2022, when income rose by 222%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Musica Sacra Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 65th percentile within NY. Charities of a similar size with the same main cause include Agape Unlimited Inc ($469k), Center for Freedom and Prosperity Foundation ($469k) and Marian Housing Center Inc ($469k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 44% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $68k (14% of expenses). Other salaries and wages came to $223k. At year end it held assets of $91k against liabilities of $67k, net assets of $24k. It reported 124 employees.