The Foundation for Music Education

Analysis

The Foundation for Music Education is a registered charity in United States, based in Magnolia, TX. It received its IRS tax-exemption ruling in December 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. 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, The Foundation for Music Education reported income of $196k and spending of $172k, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $126k to $196k (+56%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 99%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Foundation for Music Education sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 57th percentile within TX. Charities of a similar size with the same main cause include International Interior Design Association Foundation ($196k), Preston Education Foundation ($196k) and Elizabethtown High School Athletic Booster Club ($196k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 96% of the total. At year end it held assets of $205k against liabilities of $32k, net assets of $173k.