Guitar Center Music Foundation

Analysis

Guitar Center Music Foundation is a registered charity in United States, based in Westlake VLG, CA. It received its IRS tax-exemption ruling in November 2005, 21 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, Guitar Center Music Foundation reported income of $666k and spending of $803k, spending 121% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $257k to $666k (+160%), an average of +27% a year. The sharpest change came in the year to December 2021, when income rose by 82%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Guitar Center Music Foundation sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 76th percentile within CA. Charities of a similar size with the same main cause include Moving Forward Contemporary Asian American Dance Co ($666k), Dominican Day Parade ($666k) and Uptown Music Collective ($666k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Compensation of current officers, directors and key employees was $40k (5.0% of expenses). At year end it held assets of $308k against liabilities of $0, net assets of $308k. It reported 1 employees.