Troy Savings Bank Music Hall Corporation

Analysis

Troy Savings Bank Music Hall Corporation is a registered charity in United States, based in Troy, NY. It received its IRS tax-exemption ruling in December 1979, 47 years ago. 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, Troy Savings Bank Music Hall Corporation reported income of $1.8m and spending of $2.2m, spending 121% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.9m to $1.8m (-6.5%), an average of -1.7% a year. The sharpest change came in the year to June 2022, when income rose by 151%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Troy Savings Bank Music Hall Corporation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 82nd percentile within NY. Charities of a similar size with the same main cause include Victorious Christian Harvesters Inc ($1.8m), Depaul School of North East Florida Inc ($1.8m) and Fund Established by Will of Nanaline H Duke for Duke Universit ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 20% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $190k (8.7% of expenses). Other salaries and wages came to $406k. At year end it held assets of $1.7m against liabilities of $857k, net assets of $885k. It reported 39 employees.