Wolfeboro Friends of Music

Analysis

Wolfeboro Friends of Music is a registered charity in United States, based in Wolfeboro, NH. It received its IRS tax-exemption ruling in July 1991, 35 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 2024, Wolfeboro Friends of Music reported income of $70k and spending of $116k, spending 165% of what it took in. Across the 4 years on record, from June 2021 to June 2024, income fell from $229k to $70k (-69%), an average of -33% a year. The sharpest change came in the year to June 2022, when income dropped by 62%. Over the whole period it spent 52% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wolfeboro Friends of Music sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 29th percentile within NH. Charities of a similar size with the same main cause include Mayflower Choral Society ($70k), Florida Agricultural Hall of Fame Foundation Inc ($70k) and Ahhabroadway Inc ($70k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 31% and program service revenue 45% of the total. At year end it held assets of $381k against liabilities of $0, net assets of $381k.