Chamber Music Monterey Bay

Analysis

Chamber Music Monterey Bay is a registered charity in United States, based in Carmel, CA. It received its IRS tax-exemption ruling in September 1976, 50 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 2023, Chamber Music Monterey Bay reported income of $280k and spending of $329k, spending 118% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $309k to $280k (-9.4%), an average of -2.4% a year. The sharpest change came in the year to June 2022, when income rose by 42%. 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, Chamber Music Monterey Bay sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 63rd percentile within CA. Charities of a similar size with the same main cause include Chapin Girls Dance Booster Club Inc ($280k), Hear Now Music Festival ($280k) and Austin Amateur Radio Club Inc ($280k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $104k (31% of expenses). Other salaries and wages came to $4,005. At year end it held assets of $763k against liabilities of $147k, net assets of $616k. It reported 3 employees.