Musicworks

Analysis

Musicworks is a registered charity in United States, based in Havertown, PA. It received its IRS tax-exemption ruling in November 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 June 2024, Musicworks reported income of $1.2m and spending of $936k, spending 81% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $548k to $1.2m (+110%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 76%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Musicworks 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 81st percentile, and in the 79th percentile within PA. Charities of a similar size with the same main cause include Hawaii International Film Festival ($1.2m), Adventure Theatre Inc ($1.2m) and Paid in Full Foundation ($1.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 12% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $221k (24% of expenses). Other salaries and wages came to $328k. At year end it held assets of $1.2m against liabilities of $150k, net assets of $1.0m. It reported 18 employees.