Music Academy Foundation

Analysis

Music Academy Foundation is a registered charity in United States, based in Rockford, IL. It received its IRS tax-exemption ruling in September 2007, 19 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, Music Academy Foundation reported income of $90k and spending of $17k, leaving 81% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $130k to $90k (-31%), an average of -31% a year. The sharpest change came in the year to December 2023, when income dropped by 31%. Over the whole period it spent 27% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Music Academy Foundation sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 35th percentile within IL. Charities of a similar size with the same main cause include Lake Bluff History Museum ($90k), Washington Historical Society ($90k) and New Music Works ($90k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% of the total. At year end it held assets of $555k against liabilities of $0, net assets of $555k.