The Masterwork Chorus Inc

Analysis

The Masterwork Chorus Inc is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in February 1995, 31 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, The Masterwork Chorus Inc reported income of $236k and spending of $235k, spending 99% of its income. Across the 3 years on record, from June 2020 to June 2024, income fell from $283k to $236k (-16%), an average of -8.5% a year. The sharpest change came in the year to June 2023, when income dropped by 27%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Masterwork Chorus Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 64th percentile within NJ. Charities of a similar size with the same main cause include Marianna Historic Trust ($236k), Theatre Flamenco of San Francisco Inc ($236k) and Music Theatre of Wenatchee Inc ($236k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 56% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $36k (15% of expenses). Other salaries and wages came to $67k. At year end it held assets of $159k against liabilities of $16k, net assets of $143k. It reported 1 employees.