Masterwork Music & Art Foundation

Analysis

Masterwork Music & Art Foundation is a registered charity in United States, based in Cranford, NJ. It received its IRS tax-exemption ruling in September 1978, 48 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 private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Masterwork Music & Art Foundation reported income of $56k and spending of $51k, spending 91% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $9,680 to $56k (+483%), an average of +55% a year. The sharpest change came in the year to June 2021, when income rose by 320%. Over the whole period it spent 135% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Masterwork Music & Art Foundation sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 29th percentile within NJ. Charities of a similar size with the same main cause include The Sanctuary Museum Inc ($56k), New Hampshire Law Enforcement Officers Memorial Association ($56k) and Winchester Area Historical Society ($56k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 3.0% of the total. At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m.