Bagaduce Music Lending Library

Analysis

Bagaduce Music Lending Library is a registered charity in United States, based in Blue Hill, ME. It received its IRS tax-exemption ruling in September 1984, 42 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Bagaduce Music Lending Library reported income of $267k and spending of $332k, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $201k to $267k (+33%), an average of +7.3% a year. The sharpest change came in the year to December 2021, when income rose by 43%. Over the whole period it spent 152% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Bagaduce Music Lending Library sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 54th percentile within ME. Charities of a similar size with the same main cause include Chicago Association of Realtors Educational Foundation Inc ($267k), Ccsu Alumni Association Inc ($267k) and Ed3 Galaxy ($267k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 38% of the total. Other salaries and wages came to $120k. At year end it held assets of $2.9m against liabilities of $8,278, net assets of $2.9m. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.