World Music Institute Inc

Analysis

World Music Institute Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 1987, 39 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 2023, World Music Institute Inc reported income of $744k and spending of $795k, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $791k to $744k (-6.0%), an average of -1.5% a year. The sharpest change came in the year to June 2022, when income rose by 89%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, World Music Institute Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include City of Maples Repertory Theater ($744k), Long Beach Community Players Inc ($744k) and Cincinnati Memorial Hall Society ($743k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $165k (21% of expenses). Other salaries and wages came to $91k. At year end it held assets of $503k against liabilities of $13k, net assets of $491k. It reported 3 employees.