Songwriters Hall of Fame Inc

Analysis

Songwriters Hall of Fame Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1972, 54 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, Songwriters Hall of Fame Inc reported income of $1.6m and spending of $605k, leaving 63% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.3m to $1.6m (+28%), an average of +6.3% a year. The sharpest change came in the year to June 2022, when income rose by 222%. Over the whole period it spent 52% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Songwriters Hall of Fame Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Human Relations Area Files Incorporated ($1.6m), The Opera San Antonio ($1.6m) and New Orleans African American Museum of Art Culture and History ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 165% of the total. Other salaries and wages came to $251k. It paid $78k in professional fundraising fees. At year end it held assets of $6.5m against liabilities of $763k, net assets of $5.7m. It reported 1 employees.