Music Guild of New Mexico Inc

Analysis

Music Guild of New Mexico Inc is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in April 2010, 16 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 May 2024, Music Guild of New Mexico Inc reported income of $148k and spending of $153k, spending 104% of its income. Across the 5 years on record, from May 2020 to May 2024, income grew from $77k to $148k (+91%), an average of +18% a year. The sharpest change came in the year to May 2022, when income rose by 106%. Over the whole period it spent 80% 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 Guild of New Mexico Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 43rd percentile within NM. Charities of a similar size with the same main cause include Clean Oceans Project ($148k), Actors Company and Theater School ($148k) and India Center Inc ($148k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 89% and program service revenue 10% of the total. At year end it held assets of $178k against liabilities of $5,400, net assets of $173k.