Bob Moog Memorial Foundation for Electronic Music Inc

Analysis

Bob Moog Memorial Foundation for Electronic Music Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in March 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 2022, Bob Moog Memorial Foundation for Electronic Music Inc reported income of $600k and spending of $696k, spending 116% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $396k to $600k (+51%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 101%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bob Moog Memorial Foundation for Electronic Music Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within NC. Charities of a similar size with the same main cause include Cue Art Foundation ($600k), Institute for Economics and Peace ($600k) and Oil Painters of America ($600k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 46% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $85k (12% of expenses). Other salaries and wages came to $278k. At year end it held assets of $535k against liabilities of $234k, net assets of $301k. It reported 12 employees.