Lutheran Music Academy of Galvestonisland Inc

Analysis

Lutheran Music Academy of Galvestonisland Inc is a registered charity in United States, based in Galveston, TX. It received its IRS tax-exemption ruling in October 2006, 20 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, Lutheran Music Academy of Galvestonisland Inc reported income of $128k and spending of $129k, spending 101% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $151k to $128k (-16%), an average of -16% a year. The sharpest change came in the year to December 2023, when income dropped by 16%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lutheran Music Academy of Galvestonisland Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 46th percentile within TX. Charities of a similar size with the same main cause include Mid-Valley Prelude Sinfonia Inc ($127k), MTC Players Inc ($128k) and Kontrapunktus Neo-Baroque Chamber Orchestra ($127k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 19% of the total. At year end it held assets of $52k against liabilities of $0, net assets of $52k.