Musicopia Inc

Analysis

Musicopia Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in August 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 (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, Musicopia Inc reported income of $1.4m and spending of $1.6m, spending 117% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $1.4m (+29%), an average of +6.6% a year. The sharpest change came in the year to June 2021, when income rose by 83%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Musicopia Inc sits at the 89th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within PA. Charities of a similar size with the same main cause include National Liberty Ship Memorial Inc ($1.4m), Denver Theatre District Inc ($1.4m) and Landmark Society of Western New York Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 69% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $111k (7.0% of expenses). Other salaries and wages came to $582k. At year end it held assets of $670k against liabilities of $48k, net assets of $623k. It reported 21 employees.