Roots of Music Inc

Analysis

Roots of Music Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in February 2009, 17 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 December 2022, Roots of Music Inc reported income of $1.1m and spending of $1.1m, spending 101% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $636k to $1.1m (+73%), an average of +20% a year. The sharpest change came in the year to December 2020, when income rose by 71%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Roots of Music Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within LA. Charities of a similar size with the same main cause include Artpace Inc ($1.1m), Martha Graham School of Contemporary Dance Inc ($1.1m) and Waco Symphony Association Inc ($1.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $62k (5.6% of expenses). Other salaries and wages came to $421k. It paid $29k in professional fundraising fees. At year end it held assets of $593k against liabilities of $3,150, net assets of $590k. It reported 15 employees.