Somerville Music Boosters Inc

Analysis

Somerville Music Boosters Inc is a registered charity in United States, based in Somerville, NJ. It received its IRS tax-exemption ruling in October 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Somerville Music Boosters Inc reported income of $110k and spending of $91k, spending 83% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $41k to $110k (+169%), an average of +28% a year. The sharpest change came in the year to June 2023, when income rose by 89%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Somerville Music Boosters Inc sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 47th percentile within NJ. Charities of a similar size with the same main cause include Southwest Electrical Apprenticeship Program ($110k), Parent Booster USA Inc ($110k) and Abington Band Parents Association Inc ($110k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 8.0% and program service revenue 80% of the total. At year end it held assets of $94k against liabilities of $0, net assets of $94k.