Florida Federation of Music Clubs Inc

Analysis

Florida Federation of Music Clubs Inc is a registered charity in United States, based in Gainesville, FL. It received its IRS tax-exemption ruling in October 1975, 51 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, Florida Federation of Music Clubs Inc reported income of $202k and spending of $149k, leaving 27% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $166k to $202k (+22%), an average of +6.7% a year. Over the whole period it spent 71% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florida Federation of Music Clubs Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 58th percentile within FL. Charities of a similar size with the same main cause include On Our Own of Roanoke Valley Inc ($202k), Santa Cruz Art League Inc ($202k) and Northwest Arkansas African American Heritage Association Inc ($202k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $600 (0.4% of expenses). At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m.