Music Mountain Incorporated

Analysis

Music Mountain Incorporated is a registered charity in United States, based in Lakeville, CT. It received its IRS tax-exemption ruling in February 1973, 53 years ago. 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 October 2023, Music Mountain Incorporated reported income of $530k and spending of $505k, spending 95% of its income. Across the 5 years on record, from October 2019 to October 2023, income grew from $511k to $530k (+3.7%), an average of +0.9% a year. The sharpest change came in the year to October 2021, when income rose by 100%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Music Mountain Incorporated sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within CT. Charities of a similar size with the same main cause include Alabama Nurses Foundation Inc ($529k), U S Foundation for Queens University at Kingston ($530k) and Friends of Lincoln Inc ($529k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 56% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $77k (15% of expenses). Other salaries and wages came to $83k. At year end it held assets of $412k against liabilities of $134k, net assets of $278k. It reported 7 employees.