LA Jolla Music Society

Analysis

LA Jolla Music Society is a registered charity in United States, based in LA Jolla, CA. It received its IRS tax-exemption ruling in November 1971, 55 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 September 2023, LA Jolla Music Society reported income of $8.8m and spending of $9.4m, spending 106% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $28.0m to $8.8m (-68%), an average of -25% a year. The sharpest change came in the year to September 2022, when income rose by 99%. Over the whole period it spent 65% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, LA Jolla Music Society sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Stephenson Stellar Corporation ($8.8m), Rialto Theatre Foundation ($8.8m) and Elife Sciences Publications Ltd ($8.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 63% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $635k (6.8% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $84.4m against liabilities of $1.1m, net assets of $83.3m. It reported 75 employees.