Caramoor Center for Music & the Arts Inc

Analysis

Caramoor Center for Music & the Arts Inc is a registered charity in United States, based in Katonah, NY. It received its IRS tax-exemption ruling in April 1946, 80 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 December 2023, Caramoor Center for Music & the Arts Inc reported income of $6.2m and spending of $8.7m, spending 141% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $9.5m to $6.2m (-35%), an average of -10% a year. The sharpest change came in the year to December 2021, when income rose by 60%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Caramoor Center for Music & the Arts Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include American Symphony Orchestra League ($6.2m), Home Port Alliance for the Uss New Jersey Inc ($6.2m) and Music Will Inc ($6.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $993k (11% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $46.8m against liabilities of $1.3m, net assets of $45.5m. It reported 155 employees.