Jack Music Inc

Analysis

Jack Music Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Jack Music Inc reported income of $672k and spending of $706k, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $606k to $672k (+11%), an average of +2.6% a year. The sharpest change came in the year to December 2021, when income rose by 25%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Jack Music Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Voices in Contemporary Art ($672k), Riverrun International Film Festival ($673k) and Creative Arts Workshop Inc ($672k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $400k (57% of expenses). At year end it held assets of $313k against liabilities of $13k, net assets of $300k. It reported 5 employees.