Verona Summer Music

Analysis

Verona Summer Music is a registered charity in United States, based in Verona, NJ. It received its IRS tax-exemption ruling in October 2000, 26 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, Verona Summer Music reported income of $79k and spending of $75k, spending 95% of its income. Across the 3 years on record, from June 2022 to June 2024, income grew from $32k to $79k (+144%), an average of +56% a year. The sharpest change came in the year to June 2023, when income rose by 65%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Verona Summer Music sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 38th percentile within NJ. Charities of a similar size with the same main cause include School of Visual Philosophy Inc ($79k), Person County Museum of History Inc ($79k) and Star Players Inc ($79k).

On its Form 990-EZ for the period ending June 2024, revenue came from program service revenue 100% of the total. At year end it held assets of $84k against liabilities of $79k, net assets of $5,833.