World Music Inc

Analysis

World Music Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in October 1994, 32 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, World Music Inc reported income of $2.3m and spending of $2.3m, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.9m to $2.3m (+23%), an average of +7.1% a year. The sharpest change came in the year to June 2022, when income rose by 177%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, World Music Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Childrens Museum Corporation of Rutherford County ($2.3m), Cache Valley Center for the Arts ($2.3m) and Mississippi Humanities Council Inc ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 46% and program service revenue 52% of the total. Other salaries and wages came to $695k. At year end it held assets of $2.2m against liabilities of $518k, net assets of $1.7m. It reported 26 employees.