Solon Music Parents Club

Analysis

Solon Music Parents Club is a registered charity in United States, based in Solon, OH. It received its IRS tax-exemption ruling in February 1970, 56 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2022, Solon Music Parents Club reported income of $199k and spending of $47k, leaving 77% of income unspent that year. Across the 3 years on record, from June 2019 to June 2022, income grew from $182k to $199k (+9.2%), an average of +4.5% a year. The sharpest change came in the year to June 2020, when income rose by 17%. Over the whole period it spent 62% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Solon Music Parents Club sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 54th percentile within OH. Charities of a similar size with the same main cause include Blast Soccer Club LLC ($199k), Ektaa Center ($199k) and PTA North Carolina Congress ($199k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 60% of the total. Other salaries and wages came to $500. At year end it held assets of $370k against liabilities of $11k, net assets of $360k.