Multicultural Music Group Inc

Analysis

Multicultural Music Group Inc is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in June 1996, 30 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, Multicultural Music Group Inc reported income of $250k and spending of $250k, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $218k to $250k (+15%), an average of +4.7% a year. The sharpest change came in the year to June 2022, when income rose by 49%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Multicultural Music Group Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within NY. Charities of a similar size with the same main cause include Radio Free Georgia Broadcasting Foundation Inc ($250k), Friends of the Auditorium ($250k) and Clarksdale Downtown Development ($250k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $707k against liabilities of $586k, net assets of $121k.