Magnificat Institute of Sacred Music Inc

Analysis

Magnificat Institute of Sacred Music Inc is a registered charity in United States, based in Lander, WY. It received its IRS tax-exemption ruling in October 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Magnificat Institute of Sacred Music Inc reported income of $99k and spending of $66k, leaving 34% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income fell from $176k to $99k (-44%), an average of -44% a year. The sharpest change came in the year to June 2024, when income dropped by 44%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Magnificat Institute of Sacred Music Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 32nd percentile within WY. Charities of a similar size with the same main cause include No Stones Ministries Inc ($99k), Kiwanis Club of Snohomish Charitable Foundation ($99k) and Tierra Bonita Educational Foundation ($99k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 86% and program service revenue 13% of the total. At year end it held assets of $28k against liabilities of $561, net assets of $27k.