Gay Mens Chorus of Charlotte

Analysis

Gay Mens Chorus of Charlotte is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2023, Gay Mens Chorus of Charlotte reported income of $247k and spending of $239k, spending 97% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $103k to $247k (+139%), an average of +139% a year. The sharpest change came in the year to June 2023, when income rose by 139%. Over the whole period it spent 93% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Gay Mens Chorus of Charlotte sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within NC. Charities of a similar size with the same main cause include Triangle East Chapter 100 Black Men of America Inc ($246k), Sucede Inc ($247k) and Reisman Family Foundation Inc ($246k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $32k (13% of expenses). At year end it held assets of $58k against liabilities of $42k, net assets of $16k.