Music Connections Foundation Inc

Analysis

Music Connections Foundation Inc is a registered charity in United States, based in Bloomington, IL. It received its IRS tax-exemption ruling in August 2008, 18 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 December 2023, Music Connections Foundation Inc reported income of $356k and spending of $394k, spending 111% of what it took in. Across the 3 years on record, from December 2019 to December 2023, income grew from $218k to $356k (+63%), an average of +28% a year. The sharpest change came in the year to December 2022, when income dropped by 100%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Music Connections Foundation Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within IL. Charities of a similar size with the same main cause include Helping Link ($356k), Central Vermont Community Television ($356k) and Rorschach Theatre ($356k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $50k (13% of expenses). Other salaries and wages came to $33k. At year end it held assets of $20k against liabilities of $0, net assets of $20k.