Mostly Music Inc

Analysis

Mostly Music Inc is a registered charity in United States, based in Westfield, NJ. It received its IRS tax-exemption ruling in October 1982, 44 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Mostly Music Inc reported income of $81k and spending of $73k, spending 90% of its income. Across the 3 years on record, from June 2022 to June 2024, income grew from $64k to $81k (+27%), an average of +12% a year. The sharpest change came in the year to June 2024, when income rose by 33%. 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, Mostly Music Inc sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 39th percentile within NJ. Charities of a similar size with the same main cause include Chestnut Hill Concerts Inc ($81k), Friends of the Museum Inc ($81k) and Natyaveda ($81k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 51% and program service revenue 15% of the total. At year end it held assets of $77k against liabilities of $0, net assets of $77k.