Music for People Inc

Analysis

Music for People Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in January 1988, 38 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 December 2023, Music for People Inc reported income of $60k and spending of $59k, spending 99% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $86k to $60k (-31%), an average of -31% a year. The sharpest change came in the year to December 2023, when income dropped by 31%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Music for People Inc sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 25th percentile within NY. Charities of a similar size with the same main cause include Dearworld Org Inc ($60k), Southern Nash Music Boosters ($60k) and The Friends of Muscoot Inc ($60k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 54% of the total. At year end it held assets of $75k against liabilities of $0, net assets of $75k.