Close Encounters with Music Inc

Analysis

Close Encounters with Music Inc is a registered charity in United States, based in Spencertown, NY. It received its IRS tax-exemption ruling in August 1995, 31 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Close Encounters with Music Inc reported income of $375k and spending of $349k, spending 93% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $210k to $375k (+78%), an average of +21% a year. The sharpest change came in the year to June 2021, when income rose by 57%. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Close Encounters with Music Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 62nd percentile within NY. Charities of a similar size with the same main cause include Association for Theatre in Higher Education ($375k), Somerset County Cultural Arts Center Inc ($375k) and American Friends of Chicken Shed Inc ($375k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 68% and program service revenue 32% of the total. At year end it held assets of $433k against liabilities of $0, net assets of $433k.