Music in Common Inc

Analysis

Music in Common Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in March 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 2023, Music in Common Inc reported income of $610k and spending of $582k, spending 95% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $299k to $610k (+104%), an average of +104% a year. The sharpest change came in the year to December 2023, when income rose by 104%. Over the whole period it spent 101% 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 in Common Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 77th percentile within GA. Charities of a similar size with the same main cause include Dallas Chamber Symphony ($609k), Childrens Museum at Holyoke Inc ($610k) and Arms Wide Open ($609k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 5.9% of the total. Compensation of current officers, directors and key employees was $78k (13% of expenses). Other salaries and wages came to $143k. At year end it held assets of $83k against liabilities of $83k, net assets of $362. It reported 5 employees.