Friends of Music Concerts Inc

Analysis

Friends of Music Concerts Inc is a registered charity in United States, based in Millwood, NY. It received its IRS tax-exemption ruling in July 1976, 50 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 2024, Friends of Music Concerts Inc reported income of $215k and spending of $213k, spending 99% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $89k to $215k (+141%), an average of +25% a year. The sharpest change came in the year to June 2024, when income rose by 91%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of Music Concerts Inc sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 53rd percentile within NY. Charities of a similar size with the same main cause include Oil City Civic Center Inc ($215k), Rotary Clubs of Joplin Sculpture Garden ($215k) and Russian Educational Center Bookvarel Inc ($215k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 18% and program service revenue 28% of the total. At year end it held assets of $423k against liabilities of $0, net assets of $423k.