Miami Music Project Inc

Analysis

Miami Music Project Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in September 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 June 2023, Miami Music Project Inc reported income of $2.3m and spending of $2.6m, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.7m to $2.3m (-14%), an average of -3.8% a year. The sharpest change came in the year to June 2022, when income rose by 38%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Miami Music Project Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within FL. Charities of a similar size with the same main cause include Palos Verdes Art Center Beverly G Alpay Center for Arts Education ($2.3m), Mississippi Humanities Council Inc ($2.3m) and Fall River Historical Society ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $167k (6.3% of expenses). Other salaries and wages came to $948k. At year end it held assets of $3.8m against liabilities of $504k, net assets of $3.3m. It reported 40 employees.