Albany Pro Musica Inc

Analysis

Albany Pro Musica Inc is a registered charity in United States, based in Troy, NY. It received its IRS tax-exemption ruling in January 1983, 43 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 June 2023, Albany Pro Musica Inc reported income of $587k and spending of $727k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $454k to $587k (+29%), an average of +6.7% a year. The sharpest change came in the year to June 2020, when income rose by 60%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Albany Pro Musica Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Stratford Art Works Inc ($587k), Whole World Theater Company ($587k) and Freetown Village Inc ($587k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $157k (22% of expenses). Other salaries and wages came to $163k. It paid $22k in professional fundraising fees. At year end it held assets of $1.0m against liabilities of $546k, net assets of $457k. It reported 4 employees.